Category: Cash Flow
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Should you plan for Generosity? Three Reasons to Build Giving into Your Financial Plan.
For some people, financial generosity or giving can be a sore subject, but for others, it can be all that they talk about. Regardless of someone’s level of generosity, most people would tell you they prefer to be more generous. Even though most people’s “giving plan” is a reactive check when a friend or colleague…
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What Age Should I Retire? How to Adjust Your Financial Plan for Retirement.
Retirement is a highly personal concept. Some take the traditional route by leaving their 40-hour work week, while others try to work as long as possible. Retirement planning is less about that one day when you never work again; it’s more about what you are going to do in the future. While everyone retires at…
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What If I Don’t Want To Retire? 5 Reasons Why Retirement Planning Is Important Even If You Never Plan on Retiring.
Within the last 80 years, Americans created the modern version of what we call retirement. While the concept is still relatively new, there is some debate about what retirement should look like for most people. Some who are multi-decade workers would like to retire and never work again, while others claim to never stop working.…
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Where Do You Save My Money? The 3 Buckets of Tax-Smart Saving.
Savings, whether from profits or windfalls, must go somewhere. Once money is earmarked for savings, it should be allocated to one of three categories. While there are many reasons to save for a future expense, breaking down all savings into one of three tax buckets can help you better prepare for future goals. Three Tax…
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What About Capital Gains? 5 Strategies For Small Business Owners to Defer or Reduce Their Capital Gains.
Large capital gains are always something worth planning for. Especially after selling a business, tax years with large capital gains can feel particularly painful when the tax bill comes. Even though long-term capital gains are taxed at more favorable rates, there are still many planning opportunities to reduce the taxes even further. Capital Gains When…
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What Happened to Write-Offs for Business Investments? Bonus Depreciation and Section 179 Deductions Just Shifted.
Since the Tax Cuts and Jobs Act (TCJA) in 2017, there has been a yearly struggle with the amount of depreciation allowed for new business purchases. At the start of this decade, businesses could generally deduct 100% of new machines, cars, tech, furniture, etc. This full write-off has been slowly eliminated over the last few…
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Are You Donating to Charity? A Fresh Look at Charitable Giving in 2025.
With all the changes in the recent tax bill, there were not many changes to charitable giving. For whatever reason, it seems that charitable giving from a financial and tax perspective has been an afterthought for much of the American financial culture over the last few years. While the government still incentivizes you to give…
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Can You Still Deduct State & Local Taxes? How the New Tax Bill Changed the Popular Deduction.
If you pay at least 5-figures in taxes, the new tax bill may have just improved your tax situation. Since 2017, one of the major topics of contention has revolved around deducting State and Local Taxes (SALT) on your federal return. Many high-income owners pay a lot of non-federal taxes, and many want a deduction…
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How Much Does the New Tax Bill Change Things for Me? Understanding the QBI Update is Essential for Business Owners.
Among the many changes in the new One Big Beautiful Bill (OBBBA), the Qualified Business Income (QBI) deduction got a permanent upgrade for small business owners. What started with the TCJA temporary provisions has now been placed permanently into action (or until a future congress changes it). While the QBI deduction did not materially change…
TC Falkner 