3 Ways Tax Loss Harvesting Can Reduce Your Tax Bill

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...

Why Playing Time Matters

Around this time each year, my wife and I watch HBO’s Hard Knocks. It’s a reality sports series that follows an NFL team through training camp as they prepare for the upcoming season. One of the reoccurring storylines of the show and my wife’s favorite part are the...

Does it Make ‘Cents’ to Refinance Your Mortgage?

As mortgage rates continue to hit record lows, many people are refinancing their mortgages. Before you think I’m going to provide a definitive answer to refinancing, spoiler alert, I’m not, and there isn’t one. Every situation is unique and driven by more than...

How to Use The Mega Backdoor Roth Strategy

The Mega Backdoor Roth is a common planning strategy for high income earners looking to allocate money to Roth accounts. In most cases, their income exceeds the contribution threshold, which disqualifies them from making Roth IRA contributions. High-income earners can...

3 Reasons to Consider a Roth Conversion

Since marginal tax rates are at a historical low, Roth conversions are all the hype right now. Many investors are doing their research to decide if they should jump on the conversion train. If you're in this group or are just learning about the strategy, here are...

The Trojan Horse of IRAs – The Backdoor Roth

In RCs and I Ain’t Talking Cars, I explained what a Roth conversion is, how to complete the process, and why you may want to consider it. But I didn't talk about the backdoor Roth. While it's technically a Roth conversion, the execution is slightly different. If...

Traditional or Roth – Which Should I Choose?

One of the most frequent questions I hear from investors is ‘should I contribute to tax-deferred accounts, like a Traditional -401k, Individual Retirement Account (IRA), or Simplified Employee Pension (SEP) or should I contribute to my Roth -401k or IRA?’ Before we...