Using a Self-Directed IRA to Buy Real Estate vs. Purchasing Real Estate Outside an IRA: A Comparison of Tax Benefits

Investing in real estate can be a powerful wealth-building strategy, but the decision on how to structure your investments—whether inside or outside a self-directed IRA—can have significant tax implications. Both approaches have advantages and drawbacks, particularly when considering long-term tax consequences, deductibility of expenses, and tax-deferral options. This article will explore the pros and cons […]

Structuring the Purchase of a Vehicle for a Small Business: A Comprehensive Guide

As a small business owner, purchasing a vehicle for business use can be a strategic decision to support your operations. However, it’s important to structure the purchase properly to maximize tax benefits, ensure adequate protection, and avoid potential legal and financial risks. This article will guide you through the best practices for purchasing, insuring, and […]

Understanding High-Deductible Health Plans (HDHPs) and Health Savings Accounts (HSAs): A Guide for Self-Employed, Partnerships, and S-Corps

Health insurance can be a complex topic, especially for self-employed individuals or those running small businesses like partnerships or S-corporations (S-corps). One key option to consider is a High-Deductible Health Plan (HDHP), often paired with a Health Savings Account (HSA). In this article, we’ll break down the basics of HDHPs, the benefits of an HSA, […]

Back to School Commute: EV Market Updates

As your commute time increases or you find yourself returning to the gas pump again this week, you might be curious about a more energy-efficient ride. The electric vehicle market continues to evolve in both advancements and challenges. In our last post, we discussed the new and used federal tax credits, eligibility, and other factors […]

Important 2018 Tax Cuts and Jobs Acts Provisions Set to Expire in 2025

The 2018 Tax Cuts and Jobs Act (TCJA) introduced several provisions, many of which are set to expire or “sunset” in 2025. Here are some of the key components that may sunset: These sunset provisions mean that, unless Congress acts to extend or make them permanent, these changes will revert to their pre-2018 status after […]

The sky is always falling, but never does

At a wealth management firm, we spend a lot of our time preparing for all potential probabilities that can affect our clients’ financial lives. Some scenarios we attribute high probabilities to and others have super low probabilities. Our jobs include thinking about all potential scenarios and having plans in place to make sure our clients […]

Financial Tips for Traveling Overseas

Traveling overseas can be an exhilarating experience, filled with new cultures, cuisines, and adventures. However, managing your finances while abroad can be a bit tricky. To ensure your trip is smooth and stress-free, follow these essential financial tips. 1. Notify Your Bank and Credit Card Companies Before you embark on your journey, inform your bank […]

Tips for Ensuring Great Financial Chemistry in Your Relationship

Financial compatibility is a cornerstone of a healthy relationship. Money, often cited as one of the leading causes of stress and disagreements, can be a tricky subject to navigate. However, with open communication, mutual understanding, and strategic planning, couples can achieve financial harmony. Here are some essential tips to ensure you and your partner have […]