Year-end tax planning can allow you to capture tax-saving opportunities before they vanish on January 1st. This year, the stakes are higher. Tax reform discussions are underway, presenting the very real possibility of sweeping tax changes in 2018. This includes the loss of many common deductions.
If you itemize your deductions, it’s important to know how your taxes could change, and if there are deductions you can quickly secure before they potentially disappear.
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If you haven’t already done so, it’s time to begin thinking about year-end tax planning, which is always important, but is all the more significant this year, in light of the potential tax changes ahead.
Proposed tax reforms, released last week, are generally planned for implementation in 2018. This makes year-end tax planning a bit more predictable. However, it’s wise to evaluate your 2017 tax planning with 2018 proposed changes in mind, as advance planning could allow you to capture opportunities that might disappear or change.
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At SageVest Wealth Management, we offer a highly personalized approach to wealth management, one where our focus is always on you. We get to know you and your family, and as a fee-only fiduciary, always place your best interests first. Furthermore, as a woman-owned investment management firm, we’re particularly attuned to the complexities of financial planning for women, families, and multiple generations.
We’re delighted that our dedication to exceptional personalized planning and investment advice has again been formally recognized.
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October is Financial Planning month, making now a great time to think about your financial preparedness and well-being. Money isn’t everything in life, but it certainly helps to achieve security and to open opportunities for you and your family.
Personal finance can be complex, especially as your wealth grows. Each of your decisions must support the next, and align with your life goals. The following financial planning checklist will help you identify which financial topics you’ve got covered, and areas where we can help you to achieve your wealth and life objectives.
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As our clients know, SageVest Wealth Management takes pride in connecting you with your wealth in impactful and meaningful ways. Our team of advisors provides personalized, comprehensive financial advisory and investment management services to individuals, families, and business owners across Northern Virginia, Maryland, and the Greater Washington, DC area.
It’s fitting, therefore, that Jennifer Myers was again recognized this year as a Top Financial Professional in the Northern Virginia area.
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Washington DC residents have long been underserved and underrepresented. While we don’t have any updates on representation, SageVest Wealth Management does have good news about college saving options for DC residents, and associated tax benefits.
Washington DC’s College 529 Plan recently introduced changes to add stronger investment choices and reduce fees.
This is a great saving recipe if you’re a DC resident saving for college and seeking to gain DC income tax deductions too.
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Jennifer Myers, CFP ® established SageVest Wealth Management in May 2007, to provide high quality, customized, and comprehensive investment management and financial planning services to individuals, families, and business owners in the Washington, DC area and beyond.
A decade later, and with twenty years of experience, Jennifer’s the recipient of multiple top advisor awards, including Washingtonian Top Financial Advisor, and SageVest Wealth Management is celebrating our tenth anniversary! This seems an ideal time to thank our clients, and to offer a quick reminder of our services, our fields of expertise, and the core principles that guide us in pursuit of your financial and life goals.
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If you’re like most Americans, a 401(k) or similar retirement plan represents the bulk of your long-term savings. Every year, the IRS places limits on the annual contributions you can complete to these and other qualified retirement plans. Too often, people mistakenly think that if they’re contributing these maximum annual amounts, they’re saving as much as they need. While these limits might be acceptable for some individuals, they may not be adequate for everyone. The reality is that the amount you need to save for retirement hinges upon the following five key factors.
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The 2017 tax filing season began on January 23, 2017. That’s the day that the IRS began accepting electronic tax returns. Electronic filing is now the most popular method for preparing and submitting tax returns, accounting for more than 80% of total returns filed in the US. Altogether, an estimated 153 million individual returns will be submitted during the upcoming tax year.
This year sees a number of updates to tax return processing. In line with our commitment to facilitate client tax preparations, SageVest Wealth Management offers an overview of the latest IRS updates.
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If you’re self-employed, you could be facing deadlines for important decisions about establishing a retirement account before year-end.
One of the most valuable self-employed savings vehicles, whether you’re a sole proprietor or more formally established, is a solo 401(K), also known as an individual 401(K). This powerful retirement savings account allows flexibility and significant tax deferral opportunity, far greater than traditional 401(K) accounts. If this account is right for you, you can defer contributions until your tax filing, but the deadline to establish an account for the current tax year is December 31st.
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