Are You Impacted By the Social Security Earnings Test?

Submitted by John Cooney on Jun 20, 2019

Filing for Social Security and starting to receive your benefits can be a stressful decision for people to make.  One of the rules that taxpayers need to be aware of when choosing to decide when to file for their benefit is the Earnings Test.  This article will discuss the Earnings Test and provide some examples to help illustrate how the rule works and give you an idea of whether it will impact you or not.

Social Security, retirement, Taxes

It's Military Moving Season, How Does That Impact Your Taxes?

Submitted by John Cooney on Jun 4, 2019

It’s moving season for the Department of Defense…every year about 65% of the PCS moves for the year happen between May 15th and August 31st.  Don’t let your move sneak up on you.  In this great Military.com article, they offer several tips and I will share two here; book your move early and use the move as w

military finance, military, Taxes, personal finance, fee-only financial planner

Which Clients are a Good Fit for On-Going Comprehensive Financial Planning Service?

Submitted by John Cooney on May 7, 2019

Financial planners and the services they offer continue to evolve.  In the current financial planning environment, there are three main ways a financial advisor gets paid.  They can be paid a commission on a product they sell; they can be paid a fee based on a percentage of the assets they are managing for you (referred to as Assets Under Management or AUM); or they can charge a fee for comprehensive financial planning.  This last fee can be

fee-only financial planner, retirement, Taxes, personal finance, investing

What Does Your Financial Planner Do For You?

Submitted by johnnyc2id on Mar 28, 2019

There are no shortage of people calling themselves financial planners or financial advisors, so as a consumer it can be tough to decide which one is right for you. In this article, I will talk about the different kinds of planners that are out there, why I chose to be a fiduciary, and finally what I as a financial planner can do for you.

fee-only financial planner, retirement, fiduciary, Taxes, investing, estate planning, risk management, insurance

Fixing Excess IRA Contributions

Submitted by John Cooney on Dec 17, 2018

As we move towards the end of the year, you should have a good idea of what your income for the year should be.  For those who have contributed to an IRA or a Roth IRA throughout the year, you will want to make sure that your final income does not make those contributions ineligible.  For the 2018 income phaseout limits for both traditional and Roth IRAs and the rules around them, please take a look at a

IRA, Roth IRA, Taxes, retirement

Why the QBI May Make This A Good Year for You to Complete a Roth Conversion

Submitted by John Cooney on Oct 8, 2018

A key provision of the 2017 Tax Cuts and Jobs Act (TCJA), Section 199A, commonly referred to as the Qualified Business Income (QBI) deduction, allows non-C Corp business owners the opportunity to deduct a percentage of their net business income to lower their overall taxable income.  This deduction, when combined with the lower tax brackets put in place by the TCJA could make this the right time for you to do a Roth conversion.

Taxes, retirement, Roth IRA

What is an Enrolled Agent and Do You Need One?

Submitted by John Cooney on Aug 7, 2018
Have you heard the term Enrolled Agent and wondered who these people are and what they can do for you? If you are concerned about your tax situation, or are looking for advice on tax planning to ensure you are operating within the IRS Code while at the same time maximizing the amount of income you keep, then you may want the services of an Enrolled Agent.
Taxes, Enrolled Agent
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