Taxes

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Investments Article

529 Plans and Planning for Your Family’s Future

Special moments always happen in a flash—especially the times you treasure with your children, grandchildren, nieces, nephews, and other family members. One minute, they’re taking their first steps. Then, suddenly, they’re taking much bigger steps across a stage for high school and even college graduations. One way you can support them as they’re growing up is to help prepare for their futures by setting up 529 plans. Let’s investigate some of the nuances of 529 plans, including their tax benefits.  

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Taxes Article

What If We Go Back to Old Tax Rates?

Let's look at recent history of tax rates and how they could change if key provisions of the Tax Cuts and Jobs Act still sunset after 2025.

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Taxes Article

Taxes on Retirement Income

When you leave your job and enter retirement, your tax situation can drastically change. We're often asked by clients, "How will my retirement income be taxed?" The short answer: it depends. Let's take a closer look at some of the typical income sources in retirement and learn more about how that income could be taxed.

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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.

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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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Video

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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Video

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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Video

Roth Conversion Decisions for 2023

Matt Kasper reviews Roth conversion decisions for 2023 in a case study on the Modern Wealth Management Educational Series.

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