7. Tax Planning

As I am doing my own taxes and help coach others on how to minimize their tax liability, there are a few myths that drive me up the wall so I thought I would post them here: 1. If I do an extension, I will get audited. BS ! You won’t get audited by filing […]

Tax-loss harvesting, or selling investments such as stocks, bonds, and mutual funds that have lost value, can reduce the tax liability on capital gains realized from winning investments. You want to do this every year to keep your asset allocation in the same target that you want. For instance, if you target 65% in stock […]

I received this reader question recently and wanted to respond publicly: “I would like to no more about this programs and does it really works? I have made a few investments on the stock exchange through information that i got from Penny Stocks newsletters but was unsuccessful. I want  more wealth but dont no how […]

Many people don’t bother reviewing their federal tax return after it has been prepared. That’s a big mistake. As a Financial Advisor, I always insisted on reviewing the federal income tax forms with the client. I can find out a lot about the accounts and the investments of a person through a review of these […]

Just 17 more days left to save money on taxes- do some of these easy tax saving tips for cash in your pocket in new year (Note: I personally have done 3 of these and expect an extra $1,000 in my tax refund in April -WOO-HOO!) Top 7 Year End Tax Saving Tips   Fern […]

Join me in an interview with Curtis Smith CFP®, a fee-only Financial Advisor, to find out how a Roth IRA works and if it is right for you. You can listen in at RothIRA033010 Fern Alix LaRocca CFP® EA I’m Fern Alix LaRocca, a Certified Financial Planner licensee and Wealth Coach with over 30 years […]

Lowering your tax liability is one of the fastest ways to increase cash flow and build wealth. I was making a long post about all the legal deductions that you are allowed to take and that most people miss on their tax return. Then I threw it away. There are lots of articles and resources […]

I have met lots of folks who believe that to build wealth they need to make a big salary- then it’s all good. Well, wake up, because it ain’t . Inflation and taxes are lurking and munching down on that salary each year so your whole net worth (meaning what you own) has to be […]

Saving money on taxes is an easy step to build wealth immediately. You must be aware of tax law changes though in order to take action on opportunities that arise. Last minute legislation was passed to extend the Bush-Era tax cuts for a short period of time. The new law is called the Tax Relief, […]

Tax planning consists of the use of tax deferrals, tax deductions and tax credits to legally reduce your tax liability. The one that most of you are familiar with is tax deferral. That is because most of you have a 401K plan at work. For example, if you earn $100,000 a year and contribute $10,000 […]