Good Financial Reads: Your Tax Planning Guide (Part Two)

Your tax planning guide (part two)

Taxes On CARES Act IRA Withdrawals: Here Are Your Options

by Patrick King, Prana Wealth Management, LLC

Last year, my video about taking a penalty-free IRA withdrawal using the CARES Act drew a lot of views and comments. Now, many of you are asking how to take advantage of your ability to spread the taxes out over three years. Here are your options for dealing with the taxes on CARES Act IRA withdrawals.

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[Video] How Taxable Accounts Work

by Michelle Smalenberger, Financial Design Studio, Inc.

There are three different types of accounts; taxable, tax deferred, and tax-free accounts. Let’s look at that very first one. I want to show you how taxable accounts work in a visual format.

[Watch the Video

 

How to Pay Less Taxes as an Immigrant

by Sahil Vakil, MYRA Wealth

The federal income tax bracket is as high as 37 percent for some people, which, come tax time, can be an unpleasant surprise. While business owners and self-employed taxpayers have the most tax deductions, there are simple steps you can take to reduce your taxable income to pay less taxes.

[Read the Full Article

For more on tax planning, be sure to check out:

Good Financial Reads: Your Tax Planning Guide (Part One)

Good Financial Reads: Your Tax Planning Guide (Part Three)


Following along with the blogs of financial advisors is a great way to access valuable, educational information about finance — and it doesn’t cost you a thing! Our financial planners love to share their knowledge and help everyone regardless of age or assets.

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