Health Savings Accounts (HSAs) pack more tax-planning punch than you might guess at a glance. Being triple tax-free and seeing we still need to be saving for significant medical expenses in our old age despite Medicare, HSAs should be part of your planning now.
Listen to Jeffrey Levine, Buckingham’s Director of Advanced Planning, who also happens to be one of the financial and tax minds that the entire country turns to in order to better understand the impact that the new national stimulus package will have on you personally.
While we prepare for a fresh start in 2021, here are six financial tips and best practices for year-end 2020 and beyond, none of which require any heavy lifting.
Even if you’ve created durable wealth for a desirable transition, what else can you do to secure your second-act lifestyle? You have always had great success in your professional life. You need to know not only how to build wealth, but how to maximize wealth for the “retirement” you envision.
2020 has been a challenging year. But it has also presented us with a number of tax breaks which gives the potential to lower our taxes for this year and even possibly for next year.
Traditional tax planning has always focused on deferring income as long as possible. This may be the year to end such deferrals and take advantage of the low 2020 tax rates to recognize income.