Tax Moves to Consider in Summer

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Now is a good time to think about a few financial matters.   Consider making tax moves earlier rather than later. If you own a business, earn significant investment income, are recently married or divorced, or have a Flexible Savings…

HSAs: 1 Account, 3 Tax Benefits

Courtesy of our partners at Hartford Funds Have a health savings account, but not contributing to it? You could be missing out. Fighting the good fight against rising healthcare costs continues. With out-of-pocket medical expenses shooting…

Changes Impacting Tax Year 2018

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Courtesy of our strategic partners Joseph & Joseph, CPAs It's that time of year again! As we prepare for the 2019 tax season, we wanted to share some items that may impact your tax situation going into this tax season. As you likely…

What Should You Do, Take the Pension or Lump Sum?

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  Why are employers offering lump sum pension options? Who should consider receiving a lump sum? What are their tax consequences? What about an annuity? What should people avoid after electing a lump sum? Watch Szarka Financial’s…

5 Crucial IRA Tax Planning Strategies

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    Someone once said “It takes a great deal of boldness and a great deal of caution to make a great fortune and when you have got it, it requires ten times as much wit to keep it.” Although exactly who said it is unclear, the…

Financial Spring Cleaning: What to Review, Update, or Toss

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    Now that the initial filing deadline for personal income returns has passed, it is good time to review your financial “house” and get things in order.   Here are some suggested things to do:   Secure Your Data Make…

Avoid Commonly Made Blunders with your 401k

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As we wrap up tax season, what is the most common tax saving tool people can use? What are the most common mistakes people make with their 401k? What are other typical mistakes? What else can 401ks be used for? Watch Szarka Financial’s Senior…

It’s Not too Late to Make a Contribution to Your IRA

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April 15th falls on a Saturday, what is the deadline this year for filing our tax returns? It’s not too late to make contributions on IRAs, correct? There are two types of IRAs? Which is better? Watch Szarka Financial’s Senior Financial…

Don’t Let Your Inherited IRA Be a Tax Disaster

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With so many people having IRAs as part of their retirement, what happens when they pass away? What are some of the pitfalls? There was a recent court case involving an inherited IRA. What happened? What lessons can we learn? Watch Szarka Financial’s…

Don't Wait to File Your Taxes This Year

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You know that saying “that good things come to those who wait”? Well unfortunately, it doesn't apply in the income tax world, especially over the past few years to some people who have waited until late March or April to file their personal…