As Benjamin Franklin once said, “. . . in this world, nothing is certain except death and taxes.” For good reason, few people like to talk about either of these topics. Nonetheless, in this article, I will focus on the latter, taxes. In retirement, taxes are coming...
Imagine for a moment you are on your way home from the store, and a dog jumps out in front of you. In a moment of surprise and quick reaction, you do your best to avoid the dog; however, you lose control of your vehicle and hit a tree. Thankfully, you survived the...
In 2004, a Harvard Business Review article argued that ambidextrous leadership was crucial to long-term business success. Ambidextrous was defined as a business that exploited existing market opportunities, displayed operational excellence, and mandated executional...
Fall is my favorite time of the year, and it is here. The leaves have begun to change, the temperatures are starting to cool off, and we are in the middle of college football season. Just like the weather has begun to change, the IRS has made changes that will affect...
The US legislature is required to raise revenue for bridges, armies, and social safety nets. The budget changes and the need for more income seem obvious. The tax code creates a rule book attempting to uncover the necessary revenue to run our country. Bear in mind...
Investments have varying characteristics. The most essential issues are volatility, taxation, and liquidity. Occasionally, assets have to be divided amongst children and spouses in the case of divorce. Picking and choosing assets to be exchanged or delivered to a...
Your Retirement Playbook with Joe Clark, CFP. In this segment, we will cover: In this segment of Your Retirement Playbook, we will discuss how to use and gift your money in the best way. We want to help you be a better giver, not a bigger giver. Your Retirement...
Your Retirement Playbook with Joe Clark, CFP. In this segment, we will cover: We have Your Retirement Playbook program to help people reduce financial regrets, and in this episode, we will talk about four things you need on your radar right now. Your Retirement...
Your Retirement Playbook with Joe Clark, CFP. In this segment we will cover: When you have an extra dollar, where should you put it? Do you have a checklist or process on how to make that decision? Join us as we break it down! Your Retirement Playbook” is an...
Your Retirement Playbook with Joe Clark, CFP. In this segment we will cover: Get out of the penalty box! You know I hate rules (or are the guidelines or the suggestions?). When I look at most people's financial plans, other people's decisions were actually made,...
Your Retirement Playbook with Joe Clark, CFP. In this segment we will cover: What in the world is a tax bomb?! Ed Slott's retirement Tax Bomb. I've been a part of Ed Slott's organization for the last 18 years (hard for me to believe), where we study taxes. This...
Consider This Program with Aaron Rheaume, CKA, and Grant Soliven, AIF. In this segment we will cover: Coming to the end of your working career can be both exciting and terrifying. How are you going to replace your standard of living without a paycheck? What are the 7...
As Benjamin Franklin once said, “. . . in this world, nothing is certain except death and taxes.” For good reason, few people like to talk about either of these topics. Nonetheless, in this article, I will focus on the latter, taxes. In retirement, taxes are coming...
Consider This Program with Grant Soliven, AIF, and Aaron Rheaume, CKA. In this segment we will cover: Tax Planning Show An in-service, non-hardship distribution is a 401k option that not many are aware of. What other options are wrapped inside of your 401k? Are you...
Knowing which basket to use is essential when engaging in activities like picking apples, or shopping at the grocery store. The same is true when evaluating your investment portfolio. The most common “baskets” used for investing today are mutual funds and their...
Consider This Program with Joe Clark, CFP, and Grant Soliven. In this segment we will cover: Knowing the difference between marginal and effective tax rates is important, especially going into retirement. Where do you need to focus your attention? Call 800-928-4001 or...
Did you know two tax codes exist? Most people will tell you one is for the rich and one is for the poor. That is not true. The real answer is there is one for the informed and one for the uninformed. At the Financial Enhancement Group, we take pride in our ability to...
Consider This Program with Joe Clark, CFP and Grant Soliven, AIF. In this segment we will cover: Although we fear the dreaded tax audit, the IRS will not likely show up on our doorstep. However, if they did, would you have done the right things to protect your family...
Consider This Program with Joe Clark, CFP and Jamie Burton. In this segment we will cover: Knowing how to read your return can help you understand the IRS’s impact on your financial journey and can help create various strategies to mitigate unnecessary taxation. Call...
When saving for retirement, many factors determine the most efficient and effective way to save. Should I be saving my money pre-tax or after-tax? Should I also have a bucket of taxable money? What may feel good today is not always what is best for our future. A...
Consider This Program with Joe Clark, CFP and Grant Soliven, AIF. In this segment we will cover: Think of tax planning as Annie Duke calls a freeroll. A freeroll is a great decision-making tool because the downside cost is very minimal compared to the potential...
Consider This Program with Joe Clark, CFP, and Grant Soliven, AIF. In this segment we will cover: Many Americans wait until the last possible minute on April 15th to submit their taxes. Not only can that kind of delay put you in an uncomfortable position with the IRS....
Fall is on its way and brings about many changes. Autumn’s beautiful foliage arrives. Thanksgiving and Christmas approach. Another year begins to wind down. During this season of transition, the average family does not think much about taxes. Of course, you are not...
Consider This Program with Joe Clark, CFP and Jamie Burton. In this segment we will cover: We all talk about financial readiness, but are your beneficiaries prepared for what comes next? What do your heirs need to know about your assets and their future? Join us on...
Consider This Program with Joe Clark, CFP and Ben Smith, CPA, CGMA with Estep Doctor and Company, PC. Schedule your complimentary Next Steps meeting today! www.yourlifeafterwork.com 800-928-4001
Consider This Program with Joe Clark, CFP and Aaron Rheaume. In this segment we will cover: Tax Planning is different from Tax reporting. One takes place after the clock has run out. The other can at times be the difference between financial freedom or financial...
Consider This Program with Joe Clark, CFP and Aaron Rheaume. In this segment we will cover: Leaving a legacy with your IRA’s and 401(k)’s has changed. The SECURE act shifted the landscape, and your heirs need to be aware of the tax tsunami that could be coming....
Consider This Program with Joe Clark, CFP and Aaron Rheaume. In this segment we will cover: Reading your 1040 is simple; however, understanding how it impacts your future is not. We will provide clarity on the differences between marginal tax brackets and your...
Tax season ended this year on Monday, May 17, marking the second year in a row where the deadline was extended. Our office, as well as our CPA affiliates, found themselves working until the last possible moment. An unwritten rule says the longer you give yourself to...
Consider This Program with Joe Clark, CFP and Dean Huddleston. In this segment we will cover: Being charitably inclined is a testament to you and your family. Our hope with the Better Giver is not to make you a bigger giver per se', but rather a better giver. Helping...
The most common way for people to save for retirement is through their 401(k) or 403(b) plan. Most of you reading this know the drill – you meet with the plan advisor one or two times a year. The advisor tells you how your mutual funds have performed and uses software...
Consider This Program with Joe Clark, CFP and Aaron Rheaume. In this segment we will cover: Tax reporting is what we are all doing right now. Tax planning is what you did before the end of the year. Reporting tells the IRS the tax story of last year. Tax planning...
Many Americans believe that there are two U.S has two tax codes – one for the rich and one for the poor. Actually, there are two U.S. tax codes, but for the informed and the uninformed. Our team at FEG regularly meets mistakes – or at the very least missed...
Consider This Program with Joe Clark, CFP and Brett Spangler, CPA. In this segment we will cover: All assets are not equal in spending, investing or charitable gifting. There are opportunities to be a Better Giver. That is our process for helping you to be the most...
Consider This Program with Joe Clark, CFP and Brett Spangler, cPA. In this segment we will cover: Though there never was a mention of a stretch IRA in the tax code, families counted on it in their planning. This is just one instance of the IRA changing the rules...
Consider This Program with Joe Clark, CFP and Brett Spangler, CPA. In this segment we will cover: Effective rates are a focus of accounting software where the computer tells you what tax rate you paid on the average dollar earned. It is a critical number during...
Consider This Program with Joe Clark, CFP and Aaron Rheaume. In this segment, we will cover: Kicking the can down the road" Imagine a cigarette salesperson saying, "Smoke these. They'll give you cancer in the future, and you won't need as much retirement savings." The...
You are on a financial journey. That trip will consist of complex decisions. One of the most challenging issues is determining whether to pay taxes today or defer taxation to a later day. No one wants to pay more taxes today, so the default is to delay the tax...
There are four critical days concerning your taxes every calendar year. April 15th is the typical day your taxes are due – 2020 was the exception, thanks to Covid. October 15th is when your final tax filing is due. The two other dates are apparent but often...
In this week’s episode, we will cover: The death of deferment End of year tax planning The questions you should ask yourself for tax planning What to consider at the end of your career Tips for giving a eulogy on Zoom Financial Tidbits “I use the Roth as a retirement...
Tis the season to give generously, gratefully, and wisely. And when it comes to giving wisely, it’s important to understand some basic IRS rules governing gifts and tax deductions. First, there are no deductions for gifts of time or talent. If I provide free financial...
Tis the season to give generously, gratefully, and wisely. And when it comes to giving wisely, it’s important to understand some basic IRS rules governing gifts and tax deductions. First, there are no deductions for gifts of time or talent. If I provide free financial...
November 17th, 2020 Consider This Program with Joe Clark, CFP and Co-host Angi Kinser! In this week's episode, we will cover: -The crucial Death Tax Exemption and why it's easy to miss. -Is the death of your company also the death of your retirement savings? -Death,...
What measures do you take to ensure you are safe when surfing the internet? Today we have a fantastic program lined up for you. Our host, Joe Clark, and co-host Angi Kinser have three fantastic guests joining them, namely: · Jeff Lanza- FBI special agent...
Inheriting an IRA is rarely fun. One reason, it means you lost a person who thought enough of you to be a beneficiary. Another, they can also be very confusing. The new tax changes added to the complexity. There are essentially three types of beneficiaries. You can...
There aren’t many actions taken in 2020 that will impact your 2019 tax returns. IRA contributions are an exception to that rule. There are three reasons to consider making that contribution now for 2019, and the third reason may surprise you. IRA contributions require...
The Secure Act was signed into law December 20, 2019, and became effective January 1, 2020. If you own an IRA or have a defined contribution plan at work or if you will potentially inherit once of these assets, then this law changed everything. Robert Keebler, CPA,...
The theme for the last 10 weeks has been retiring with $500k. The last nine weeks addressed individual issues in-depth. (Request a consolidated copy of the articles at yourlifeafterwork.com.) So what’s the answer? It depends on you. The amount of assets you have is...
Taxation is as much a part of retirement as it was during your working years. The basics remain consistent but how your money is taxed annually changes dramatically. We have devoted the last seven weeks and the next three weeks to walk you through how to retire on...
The concept of having a budget at any age gives some individuals cold chills and other relief. Some people love the rigidity or certainty of a budget while others feel trapped or constrained at the thought of a budget. Those are two vastly opposing emotional extremes...
That may sound like a small fortune or an amount you have already surpassed. Regardless, a sound retirement is the combined management of your budget, tax bracket, volatility of your investment account, Social Security timing, inflation, changing needs and life...
Diversification is commonly thought of as owning different investments. There is also the notion of not having all your money in one place or investment account. Diversification even occurs in alternating exercises or eating different food types. The concept has...
King Solomon famously wrote, “It is the little foxes that spoil the vine.” In a secular moment, he might have written: “it is the little assets that spoil the estate plan.” More often than not, with careful examination, we uncover forgotten assets in a family’s...
In business they say, things that are measured do well, and things that are measured and reported do tremendously better. Sadly, most taxpayers skip to the reporting and never do the measuring! You have to pay your taxes and you have to do tax reporting. Tax planning...
Here is this week’s radio show, hosted by Joe Clark, CFP.
[vc_row][vc_column][vc_column_text]Individual Retirement Accounts (IRA’s) seem so simple, but the rules can be deceptively complex. Add to that complexity the word “Roth,” and now things get very interesting. Critical to know is that the rules for an IRA and a Roth...
Here is this week’s radio show, hosted by Joe Clark, CFP.
Here is this week’s radio show, hosted by Joe Clark, CFP. https://www.youtube.com/embed/PseE7JXkrA4
Welcome to this week's Consider This with Big Joe Clark radio show, hosted by Joe Clark, CFP. This episode originally aired on December 8, 2018. To find our podcast, check out Consider This Program. In this episode you will find information about: Mutual Funds, Tax...
Welcome to this week's Consider This with Big Joe Clark radio show, hosted by Joe Clark, CFP. This episode originally aired on December 1, 2018. To find our podcast, check out Consider This Program. In this episode you will find information about: Volatile Markets,...