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2018 Key Numbers

There are two major drags on the success of your financial plan: fees and taxes. Fees are necessary to get professional management and advice and usually average about 1.5%. You evaluate the value you get by paying fees at least annually. Taxes are a significantly bigger drag than fees. The lowest capital gains tax rate is 15% or ten times as much as the average advisor fee. If you can minimize the tax drag on your wealth accumulation and retirement drawdown strategies, you can significantly increase cash flow and family wealth. Click on this link to get the details of the 2018 tax law and how it may impact you.

The Importance of Incorporating Taxes into Your Financial Plan

Does your financial planner advise you on the tax impact of your financial decisions as well as help you with tax saving strategies?  If not, you should consider finding one who does.   Here’s why your tax advisor should be your financial advisor.

Who Gets the Education Tax Credit: Parent, Student, or Relative?

If you are eligible to claim an education credit on your tax return, it could reduce the amount of tax that you owe by up to $2,500 per tax return.  The two education credits that are available are the American Opportunity Credit and the Lifetime Learning Credit.

2015 Key Numbers for Individual Income Tax Planning

Are you currently working on tax planning for 2015? By clicking here, you will find all of the key tax numbers for 2015 to help you understand the complexity of the tax planning we do at D3. Save a copy for your records to reference throughout the year!

Top IRS Scams of 2015

With tax season upon us, it is important to be aware of this year's top tax scams in order to learn how to protect yourself. For example, phone scams, phishing, and identity theft are the top three listed on the IRS' list of top 12 scams for 2015. Learning what the IRS legally can and cannot do over the phone and through email as well as what you should expect from tax preparers, for instance, will help you identify and prevent a potential scam. Additionally, a valuable resource worth remembering for information regarding taxes and preparation is the IRS website; you may find that many of your questions can be answered by a quick search.

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