So here’s a topic that all business owners have thought about but few have taken action on: succession planning. I was reading a study by Wilmington Trust the other day that polled 200 different owners of…
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Investing In Yourself as an Entrepreneur
Many of us feel an innate need to make contributions to tax advantaged retirement plans every year. When it comes to personal finance, much of what we read, hear, and see in the media centers…
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Should Your Portfolio Change After You Retire?
One question that’s come up several times over the last couple months centers on whether your portfolio should change after you retire. In fact, one person I’ve spoken with recently assumed that once he retired,…
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Breaking Down the Industry for Financial Advice
The industry for financial advice is confusing. Professionals in the business of helping the public with their personal finances work for different types of companies, are compensated in different ways, and have varying standard by…
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What You Should Know About the SECURE Act Retirement Bill
Every now and then, lawmakers in Washington make noise about changing various sections of the tax advantaged retirement accounts I’m so fond of recommending to my clients. Now that we’re living substantially longer, and a…
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Maximizing Your 199a QBI Deduction as a Specialized Service Business
As you’re probably aware, we’re working with some new tax laws as of January 1st, 2018. The tax change that will have the most impact for many business owners out there – particularly owners of…
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Setting Up a 401(k) to Take Advantage of the ‘Mega’ Back Door Roth Conversion
If you’re a personal finance nut you may have heard of a strategy called the “back door Roth IRA conversion.” This maneuver essentially allows you to contribute money to a Roth IRA, even if your…
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A Review of Providence’s 457(b) Plan
In my financial planning firm I work mostly with business owners and medical professionals. A good number of my clients are employees of Providence, which is one of the major medical providers in the Pacific…
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Year-End Capital Gains Distributions: How to Avoid Getting Slammed
With tax season now in the rear view mirror, many of us are licking our wounds after a shellacking from Uncle Sam. I heard from a lot of people this year that they owed far…
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Pro’s & Con’s of Long Term Care Insurance: 3 Top Arguments For & Against
I have a good number of clients who are in their mid-50s, and hearing from friends and colleagues that they should consider obtaining long term care insurance. They’ll often quote stats about the staggering percentage…
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