Echelon Family Office
Your business’s success is in your hands when you’re self-employed, so you need to be knowledgeable about and take advantage of whatever assistance is available—especially when it comes to lowering your tax bill. It’s commonly known that the government subsidizes certain personal expenses when you work from home. The key to this deduction is to use […]
The face of identity theft has changed dramatically, evolving with the technology and economic landscape surrounding it. Understanding your exposure and staying informed of the trends and methods that thieves use to steal from you is the first step in a strong defense against identity theft. Step 1: Know how you’re exposed Simple, everyday activities […]
“You have brains in your head. You have feet in your shoes. You can steer yourself any direction you choose. You’re on your own. And you know what you know. And YOU are the one who’ll decide where to go…” ― Dr. Seuss, Oh, the Places You’ll Go! Retirement dreams come in all designs and visions, but […]
This past year highlighted small businesses more than any other. The impact from a struggling economy has not gone unnoticed and the support from local shoppers has made the difference between open and closed for many small business owners. If you own a small business, one thing is certain, the responsibility of retirement planning is […]
All 50 states and the District of Columbia have now certified their presidential election results, and President-Elect Joe Biden will drive our next four years. What does that mean for your investments as you move closer to retirement? Unfortunately, an election taking place at the height of an unprecedented global pandemic doesn’t exactly lend itself to […]
Happy New Year! It’s a new year, a new you, and a new time to do things differently—like your taxes. Tax-filing season is officially here, and there are many things you can do to be prepared and organized. Here are a few simple tips that can help you save time, stress, and money: Double-check your paycheck – […]
Did you know it’s possible for your tax bill to go up once you retire? One possible reason: A portion of your Social Security benefits could be taxed. Another possibility: Your tax-deferred retirement account tax bill comes due when you start drawing down your money. Add in your retirement income from other sources, such as Social Security, pensions, […]
The Social Security Administration (SSA) recently announced that the 2021 annual cost-of-living adjustment (COLA) for benefits will be 1.3%. That’s a small but essential increase for millions of beneficiaries who will see a rise in their monthly payments starting in January. Larger checks for retired, disabled workers – For the average retired worker, the monthly Social Security […]
Go beyond maxing out your employee 401(k) to find the opportunities that could save you your hard-earned cash when it comes to paying taxes. Minimize the use of Active Management for Brokerage Accounts.The more you trade, the more you’ll be taxed. Realized gains in a brokerage account get taxed when they get reported, which happens […]
Are you wondering if you can deduct your credit card interest this tax season to move to a lower tax bracket?The answer is most likely no. The Tax Cuts and Jobs Act, signed by President Trump in 2017 was the biggest overhaul of the tax rules in 30 years.1 For individuals, it wiped out many of […]
In addition to the emotional high that giving to those you care about brings, giving can now also be a savvy tax move for families with substantial wealth. That’s because both the present value and any potential growth of the transferred assets are removed from your taxable estate. Although the IRS generally doesn’t care when you make a major […]
Consider this: about 70% of Americans will require long-term care, long-term care facilities cost between $80,000-$150,000 annually, and the average stay is approximately 3 years. Those figures all add up to one thing; it’s time to consider a hybrid insurance policy. Hybrid policies are a combination of long-term care insurance and life insurance where the […]