Estate planning has long been associated with the transfer of wealth from one generation to the next. But in today’s dynamic world, that traditional lens is no longer enough. True legacy planning is about more than just distributing assets—it’s about preserving values, protecting loved ones, and ensuring clarity for the future.
Understanding how money moves in and out of your wallet can make a big difference over time. Whether it’s navigating tax changes, handling extra income from overtime, or taking on a new auto loan, smart financial decisions require clarity. Here’s a breakdown of key money matters you should be paying attention to this year.
Recent changes to the tax law have introduced new dynamics that are reshaping the landscape for small business owners and high-income individuals. While the revisions were intended to stimulate growth and streamline the tax system, their effects vary widely depending on income type, business structure, and individual circumstances. Understanding these impacts is crucial for effective planning and financial decision-making.
The newly passed “Big Beautiful Bill” marks a pivotal shift in how equity compensation is taxed and planned across corporate America. Stock options and restricted stock units (RSUs) have long been used as powerful tools for employee retention and wealth building, but this legislation introduces several layers of complexity that both companies and employees need to navigate carefully.
A recent proposal in Washington has sparked discussion among workers and employers alike: exempting overtime pay from federal income tax. This move could reshape how employees view extra hours and how businesses manage compensation. Let’s break down what this proposal entails, who it could affect, and what it might mean for your paycheck.
For executives and highly paid employees seeking to go beyond standard retirement plans like 401(k)s, nonqualified deferred compensation (NQDC) plans present a valuable strategy. These plans enable you to postpone a portion of your income—such as salary, bonuses, or incentive payouts—and delay income taxes until distributions are made. However, Social Security and Medicare taxes are still due at the time the compensation is earned.
For many Americans approaching retirement, Medicare seems like a safety net—an automatic solution to healthcare costs later in life. But assumptions about Medicare often lead to financial surprises. Misunderstanding how the system works can result in higher premiums, uncovered services, and costly late enrollment penalties. To make the most of your healthcare benefits, it’s essential to separate fact from fiction. Below are some of the most common Medicare myths and the real truth behind them.
Getting a notice from the IRS can feel overwhelming, but understanding what happens during an audit can ease the anxiety. The process might sound intimidating, but it’s often more routine than most people think.
The One Big Beautiful Bill, signed into law on July 4, 2025, brings sweeping improvements to 529 education savings accounts that benefit families at every stage of learning:
Most everyday investors rely on stocks, bonds, or mutual funds to grow their money. But the wealthy? They use an entirely different playbook—one filled with strategic investments and tax-efficient tools that allow them to build serious wealth while paying little to no taxes on their gains.
