Taxes Article
How to Reduce RMDs with 5 Strategies
We want you to understand how to properly save and manage your money to help reduce your overall tax liability. Here are five strategies for how to reduce your RMDs.
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Taxes Article
6 Reasons Roth Conversions Could Work for You
The idea of having more tax-free money to spend in retirement or to pass on to the next generation(s) can be very intriguing for a lot of people. However, if you ask our tax professionals the question, “Could a Roth conversion work for me?” they probably won’t give you a yes or no answer. They’ll likely say, “It depends on your situation.” Let's review these six reasons that Roth conversions could work for you.
Taxes Article
Do I Need a CPA?
The complexity of someone’s tax situation depends on several different factors, such as marital status, income level, and where you live. Some people feel confident that they can file their own tax return to avoid the cost of hiring a CPA. But does the cost of hiring a CPA really outweigh potentially making a mistake on your return and/or missing out on tax reduction strategies that you didn’t know about? Let’s review why to consider hiring a CPA.
The Guided Retirement Show
Taxes Podcast
Tax Planning Tips with Corey Hulstein, CPA and Marty James, CPA, PFS
Modern Wealth Management Director of Tax Corey Hulstein, CPA and Modern Wealth Management Managing Director Marty James, CPA, PFS
How can you pay less taxes over your lifetime? That’s a question everyone wants to know the answer to, but there isn’t a one-size-fits-all answer. Everyone’s financial situation is different. Along with explaining the importance of having a forward-looking tax plan as a part of your personalized financial plan, Corey Hulstein, CPA and Marty James, CPS, PFS joined Dean Barber on The Guided Retirement Show to share some tax planning tips.
Investments Podcast
How Does a 401(k) Work with Michelle Cannan, CPFA™, QKA®, QKC
Michelle Cannan | Modern Wealth Management Managing Director and Head of Company Retirement Plan Services
As Modern Wealth Management continues to grow, one of the additions we’re very excited about is our office in Rochester, New York. Our Rochester-based team members specialize in 401(k) plans, which are typically people’s largest asset as they head into retirement. So, we figured it would be good idea to have Michelle Cannan, CPFA™, QKA®, QKC, our head of company retirement plan services and managing director of our Rochester office, join Dean Barber on The Guided Retirement Show to discuss how a 401(k) plan works and many other nuances about 401(k)s.
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Tax Reduction Strategies
Here’s a list of a few tax strategies to consider that could improve your overall tax structure during your retirement years and for your beneficiaries inheriting your estate.
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Year-End Tax Planning for 2023
Managing Directors Dean Barber and Marty James, CPA discuss some key things to keep in mind while doing year-end tax planning for 2023.
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The Lifetime Learning Credit vs. the American Opportunity Tax Credit
Given the complexity of the tax code and how often it changes, the education never stops for our Director of Tax Corey Hulstein, CPA. He continuously studies the tax code to help our clients and prospective clients make informed decisions when it comes to tax planning. Today, Corey is going to educate us about tax credits for qualified tuition and related costs for eligible students on the Modern Wealth Management Educational Series. Let’s learn about the Lifetime Learning Credit and how it compares and contrasts to the American Opportunity Tax Credit.
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Roth Conversion Decisions for 2023
Matt Kasper reviews Roth conversion decisions for 2023 in a case study on the Modern Wealth Management Educational Series.