Broker Check

Financial Planning

TAX PLANNING

Tax planning is the analysis of a financial situation or plan from a tax perspective. The purpose of tax planning is to ensure tax efficiency. Through tax planning, all elements of the financial plan work together in the most tax-efficient manner possible.

401K PLANNING

A 401(k) plan is a qualified employer-sponsored retirement plan that eligible employees may make tax-deferred contributions form their salary or wages to on a post-tax and/or pretax basis. 

403B PLANNING

Think of 403(b) plans as 401(k) plans designed for public school, college, and university employees, as well as for employees of certain tax-exempt organizations, including churches and charities. The analogy isn't perfect because 401(k) and 403(b) plans have different rules, but it's close. Both of these plans offer participants a tax-advantaged way to save for retirement.

COLLEGE PLANS

College savings plans, including UGMA, Coverdell, or 529 plans, allow parents to leverage their dollars for their children's future education needs. Contributions grow tax-deferred and they are invested. Certain plans allow for tax-free withdrawals for qualified education expenses.

ESTATE PLANNING

Estate planning is the preparation of tasks that serve to manage an individual's asset base in the event of their incapacitation or death. The planning includes the bequest of assets to heirs and the settlement of estate taxes. Most estate plans are set up with the help of an attorney experienced in estate law.

MONEY MANAGEMENT

Money management is the process of budgeting, saving, investing, spending or otherwise overseeing the capital usage of an individual or group.

MONEY PURCHASING PLANS

Money-purchase provisions detail the specific amounts that an employer and employee contribute to a money-purchase retirement plan. These provisions typically include vesting schedules and other information the employer and employee agree upon in advance.

PROFIT SHARING PLANNING

A profit-sharing plan, also known as a deferred profit-sharing plan or DPSP, is a plan that gives employees a share in the profits of a company. 

definitions provided by:  www.investopedia.com