It is time for the annual reminder for you to save on your state taxes by taking advantage of the Arizona State tax credits. Arizona provides dollarfor- dollar tax credits for seven types of donations. These credits apply directly against your state income tax liability, so you get back whatever you give if you have a state tax liability.

Many people today find themselves in a good financial position to retire before age 65.  However, their one major concern is how to obtain health insurance coverage prior to Medicare eligibility.  There are several options to consider in this situation.

On November 29, 2022, the President signed the Consolidated Appropriations Act, which contained some significant retirement provisions dubbed “SECURE 2.0.” Many of the changes are technical adjustments, not applicable to most taxpayers. However, there were several which could benefit many of us. I will give the highlights of these here.

If you take Required Minimum Distributions (RMD’s) from your Individual Retirement Accounts and make contributions to charities every year, you may have a tax savings opportunity.  Qualified Charitable Distributions (QCD’s) can be made by direct transfer from the IRA to the charity.  Therefore, you avoid inclusion of the amount transferred from your income instead of…

What does generosity mean to you?  When you think of someone who is particularly generous, what qualities come to mind?  Over the years of my life as a financial advisor, I have been deeply moved by how many generous people I have met.  It is an attitude that leads to a much deeper and more satisfying life.               The…

The first thing that comes to mind for most people when they consider this question is do they have enough money.  Of course, that is an important concern.  You need to be confident you have enough resources to have an enjoyable and stress-free retirement. When I ask clients, who are three to five years from…

Uncertain times often present opportunities as well as challenges. Tax and financial planning strategies should be revisited any time our situation changes considerably. One thing to consider is whether it is time to fund a ROTH instead of the Traditional IRA or even if it might make sense to convert some Traditional to ROTH IRAs.…

Most people have the largest part of their investments for retirement in qualified plans (tax deductible at contribution and tax deferred until withdrawn).  These plans (IRA’s, TSA’s, 401(k)’s) are generally advantageous during the higher income years because contributions to these plans are tax deductible.    ROTH IRA’s (or ROTH(k)’s) may be a beneficial alternative for some…