With the end of the year in sight, now is the time to begin assessing your 2023 tax obligations to see what you could do to reduce your bill. As a first step, ask the professional advisors from Baltimore-Washington Financial Advisors for help estimating what you may owe. Then identify the tax planning strategies that […]
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Year-End Tax Planning If You Have a Lower Income
If you have earned less than anticipated this past year, there are a handful of tax strategies to help you. You may have an opportunity for portfolio rebalancing, Roth IRA conversions, and much more. Read on to learn how the fee-only and fiduciary team at Baltimore-Washington Financial Advisors can help you with year-end tax planning.
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Year-End Tax Planning If You Have a High Income
If you find yourself in a higher tax bracket for 2023, you might face a larger tax bill than you initially expected. That said, there are plenty of year-end tax planning strategies higher-income earners can leverage to help reduce their overall tax burden. Our team of advisors can help you with this process, so read on to […]
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Helpful Tips for Year-End Tax Planning
It’s been a unique year. We have seen the market rebound and inflation slow down while also experiencing interest rates reaching highs, we have not seen in over two decades. It is important to remember that the end goal shouldn’t be blindly pushing income into the following year or pulling any expenses into the current […]
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ABCs of Financial Aid
It’s hard to talk about college without mentioning financial aid. Yet this pairing isn’t a marriage of love, but one of necessity. In many cases, financial aid may be the deciding factor in whether your child attends the college of his or her choice. That’s why it’s important to develop a basic understanding of financial […]
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Tax Tips: Long-Term Care Insurance
Your chances of requiring some sort of long-term care increase as you age, and long-term care insurance (LTCI) can help you cover your long-term care expenses. Although tax issues are probably not foremost in your mind when you buy LTCI, it still pays to consider them. In particular, you should explore whether your premiums will […]