by John Geffert | Feb 3, 2021 | Deep in the Trenches
Health Savings Accounts (HSA) are an underutilized saving vehicle for current and future health care costs. HSAs are a tax-advantaged savings account available to individuals who are part of a high-deductible health plan (HDHP). Below are key facts and just a few...
by John Geffert | Jan 19, 2021 | Deep in the Trenches
Net Worth = Assets – Liabilities Three Truths and a Belief: Truth 1: A High Income ≠ A High Net Worth Your income doesn’t drive your net worth; what you do with it does. During the ‘what are your intentions’ conversation with my future father-in-law, he told me...
by John Geffert | Dec 18, 2020 | Deep in the Trenches
Key Takeaways You can use realized losses to offset realized gains and/or reduce up-to $3,000 of earned income in a tax year.Knowing the holding period of your investments is very important. Short- term gains have the potential to double your tax liability compared to...
by John Geffert | Nov 25, 2020 | Deep in the Trenches
What is better, active management or passive investing? Those in the financial industry will debate this as ferociously as most arguments involving politics and religion. Active management implies owning mutual funds, while passive investing refers to owning an index...
by John Geffert | Oct 23, 2020 | Deep in the Trenches
I’ve been enamored by ultramarathons for the last few years. Done with being a spectator, on Jan 1, 2020, I signed up for a 50k and 50mi race. Knowing I was in uncharted waters, I chose to hire a coach. I was introduced to Joe McConaughy. Joe’s not only a...
by John Geffert | Oct 16, 2020 | Deep in the Trenches
For most, tax planning becomes a focal point at the end of the year, if it happens at all. The most effective tax planning starts before the next tax year. Meaning, 2021 tax planning usually begins in the last quarter of 2020. That said, the three tax planning...
