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provwealth's articles
- July 30, 2025
For some, the COVID pandemic may seem like a distant memory. However, if there is one lesson we learned from that period it’s that no one is immune from a job loss, a business closing, or a life-threatening illness. When these challenges occur, it is often too late to develop…
- July 29, 2025
The passage of the One Big, Beautiful Bill Act (OBBBA) on July 4, 2025, provides a reprieve to net-worth families who faced the prospect of losing many taxpayer-friendly provisions of the tax code that were set to expire at the end of this year. However, maximizing the potential benefits of…
- July 21, 2025
When most people think of retirement, they imagine spending their time traveling and pursuing hobbies and activities that bring them joy. Few consider that as life expectancies increase, so too do the risks that individuals will eventually require costly long-term care for assistance with daily living activities. By failing to prepare…
- July 16, 2025
Memorable vacations do not happen by chance. They require a certain level of effort and planning to ensure that you stay within your budget and maximize your actual time away for fun, sightseeing and relaxation. The more you plan, the more likely your getaway will meet your expectations. With this…
- July 14, 2025
It is no secret that the U.S. tax code is complicated. Compliance with U.S. tax laws is particularly onerous for foreign persons, especially when considering that different rules apply for income and estate tax purposes, and neither depends on an individual’s immigration status. For income tax purposes, the U.S. presumes…
- July 9, 2025
Physicians and other healthcare providers recognize the inherent risks of their profession, including legal and financial exposure to claims of medical malpractice. However, this professional liability is merely the tip of the iceberg when considering the complex legal landscape that all professionals must navigate when operating a business, employing staff,…
- July 7, 2025
Individual retirement accounts (IRAs) and 401(k)s serve an important purpose in estate planning, helping individuals save during their prime earning years to provide a financially secure retirement in the future. Contributions to these plans today reduce your taxable income in the year of contribution and grow tax-deferred until you take…
- July 2, 2025
Trusts are essential to estate planning, regardless of your financial means. After all, you do not have to be a millionaire to protect your family members and plan for their continual care after you are gone. With a trust, you can help ensure that your wishes are followed, and your…
- June 30, 2025
There are times when you may find yourself short on cash to cover necessary and often significant expenses. This may include circumstances when you have unexpected medical bills and home repairs or you would like to help your child pay for graduate school or the purchase of a new home…
- June 25, 2025
High-income earners who max out their 401(k) with pre-tax dollars each year may have additional opportunities to supersize their retirement savings with after-tax contributions that can be withdrawn tax-free in the future, depending on their employer’s plan documents. Annual Pre-Tax Contribution Limits to Employer-Sponsored 401(k) Plans Each year, the IRS…