Posts by Kirk Hackbarth
Asset Location: Maximizing the After-Tax Return of Your Portfolio
Many investors don’t consider taxes when they are constructing their portfolios, but they can be one of the biggest drags on investment returns. Asset location focuses on how investors allocate their investments across various account types. By actively monitoring your investment portfolio, assets can be placed in the optimal location. Tax-smart asset location can help…
Read MoreHealth Savings Accounts – What Happens to Your Unused Balance at Death
Health Savings Accounts (HSAs) became law in 2003 (went into effect January 1, 2004) as part of the Medicare Prescription Drug, Improvement, and Modernization Act. The purpose of the HSA was to provide a way for individuals to pay for qualified medical expenses with pre-tax dollars. HSAs were designed to be paired with high-deductible health…
Read MoreTax Updates for 2023
2022 has been an incredibly complicated year, to put it mildly. Between the ongoing effects of the COVID pandemic, a global energy crisis, rising interest rates, 40-year high inflation, and a slowdown in economic activity, uncertainty appears to be everywhere. Throw in changing tax laws to top things off and it’s hard to know what…
Read MoreHow to Reduce your Taxes by Using a Qualified Charitable Distribution
Are you getting the tax deduction you deserve for your charitable giving? If you are over 70 1/2, there may be a better way to give. The Tax Cuts and Jobs Act of 2017 made several significant changes to the individual income tax, including doubling the standard deduction. As a result, an estimated 90% of…
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