IFP Insights

Knowing how your Social Security benefits will be taxed is an important part of planning for retirement. Learn more about Social Security benefit taxation here.

It's never too early to start looking at your tax obligations for the coming tax season. The information in this article is for the 2023 tax year, which most taxpayers will file in 2024.

Whether you’re the owner of a small business or a C-suite executive, you’ve worked hard to help your organization grow and succeed. You may have accumulated valuable assets along the way, but it’s estimated that as much as 80% to 90% of them are tied up in your company. And if you’re one of the 48% of business owners without an exit strategy, that could make things difficult when you plan on retiring or otherwise stepping away.

Over a ten-year period, index ETFs outperform something like 95% of investments. And direct indexes outperform index ETFs (on an expected after-tax basis).

Understanding tax management, how it works, and how to implement it into your investment strategy is so important. This post will examine how we use tax management to impact your portfolio.

Tax-loss harvesting is a process that involves deliberately selling securities at a loss in order to offset your earnings from other securities, thereby potentially reducing your tax burden. In other words, if you have an investment that’s lost value, you can sell it and deduct the value of that loss from the gains you realize elsewhere. That deduction lowers your total taxable income for the year, which may result in tax savings.