It is no secret that taxes can take a big bite out of investment returns. Consequently, it is essential to thoroughly analyze the short- and long-term tax implications of your investment decisions with an eye toward achieving tax alpha, or…
Earlier this year, the IRS, Department of Labor (DOL) and Pension Benefit Guaranty Corporation (PBGC) issued final changes to the annual reporting requirements of employee benefit plan sponsors for their 2023 filings of IRS Forms 5500 and 5500-SF. The revisions…
Engaging in estate and financial planning without paying attention to taxes can be a fool’s errand. Tax awareness can be tantamount to all aspects of saving, investing and spending. Failure to consider the tax implications of any estate or financial…
According to the Giving Institute’s 2023 Annual Report on Philanthropy, charitable giving in the U.S. decreased more than 10 percent in 2022 from a record high the prior year. However, one area of giving that appears to be growing is…
One of the basic principles behind proper estate planning is to help ensure that decedents’ hard-earned wealth passes to their heirs in the most tax-efficient manner, which often means minimizing exposure to federal estate and gift taxes. While there are…
Selling a company that you put your heart and soul into building can provide significant rewards, including financial security for the remainder of your lifetime and potentially your heirs. Nevertheless, achieving that aim and reaping the full potential of the…
Life insurance is a vital estate planning tool intended to protect your family members from significant financial burdens and other economic risks that can occur when you pass away. However, no two policies are alike and navigating the world of…
The professionals of Provenance Wealth Advisors provide a comprehensive approach to income, estate, financial and business planning. We take pride in helping clients navigate complex financial and risk environments. To learn more about Provenance Wealth Advisors financial planning services click here or…
Not only is it true that death and taxes are the only certainties in life, but one’s death can come with significant tax liabilities. The key to minimizing these so-called “death taxes” is to put tax-efficient estate plans into place…
After gathering the documents needed to file annual federal income tax returns, take a moment to review all your financial accounts before filing those papers in a drawer. Most importantly, look at how those accounts are titled and who is…
