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Eight Year-End Financial Planning Recommendations as 2024 Approaches

November 9, 2023 | By Tim Daly, CPA

2024 is on the horizon, and we recommend taking advantage of some key planning opportunities before 2023 expires. The start of any new year marks a challenging time for financial planning, and today’s volatile economic landscape only heightens the sense of uncertainty.

What are Health Savings Accounts (HSAs) and should I have one?

October 11, 2023 | By Matthew Gordon, CFP®, RLP® and Tim Daly, CPA with contributions from our interns Maya Monsour and Rohan Sagar

Health Savings Accounts (HSAs), as the name implies, are savings accounts for health care expenses. There are restrictions on who may contribute, how much, and what counts as a qualified medical expense. It is worth exploring whether you have the opportunity to participate in one of these accounts as they provide some compelling tax benefits.

Understanding Global Financial Planning

August 31, 2022 | By Brenna McLoughlin, CFP®, GFP (USA)

Wealthstream Advisors has recently added to our team’s growing list of professional designations, Global Financial Planner (USA), or GFP (USA). We sought out this additional expertise because we know from experience that individuals and families who have lived in more than one nation have unique needs from a financial planning perspective.

The Four C’s: Achieving Financial Peace of Mind

June 10, 2022 | By James Perriello, CFP®

Managing the financial aspect of life takes brainpower and a lot of time: staying updated on the markets, tracking changes in tax law, and reading the fine print are just a few examples. Whether you are busy managing a business, juggling family life, or simply enjoying retirement, these tasks–and the financial responsibility that comes with them–require a team effort. That is where a financial advisor steps in.

The 4 Most Common Equity-Based Compensation Taxation Mistakes, and How to Avoid Them

May 27, 2022 | By Wealthstream Advisors Team

Equity based compensation is a wonderful way to potentially share in the profits of your company. Getting the most out of your equity compensation requires understanding the key concepts and specific terms and conditions of the grant. It is also important to understand the tax implications surrounding your equity compensation and to make decisions with a long-term financial plan in mind. Not fully understanding what you have been granted or not having a plan can easily lead to mistakes, lost opportunities, and even outright loss.

Year-End Tax Planning Checklist: What to Look For Before December 31st

November 16, 2021 | By Matthew Gordon, CFP®, RLP®

As 2021 draws to a close, it’s a good time to make sure that your tax planning is set. To help minimize your tax payments over time, there are several items that should be completed before December 31st. In this article, we’ll cover the 10 critical areas you should focus on for your year-end tax checklist.

Estate Planning: Gifting Strategies through 2025

September 29, 2021 | By Katharine George, CFP®

On December 31st 2017, the Tax Cuts and Jobs Act (TCJA) doubled the federal lifetime gift and estate tax exemption from around $5.5M to about $11M. This higher exemption amount has continued to increase indexed for inflation and the exemption in 2021 is $11.7M. After 2025, the TCJA is set to ‘sunset’ and the exemption reverts to pre-2018 levels, adjusted for inflation, for an estimated future exemption amount of $6.8M.

Divorce: Key Considerations for an Equitable Split

December 5, 2019 | By Brenna McLoughlin, CFP®

Divorce results in the division of a household’s assets and income, but parties involved should consider that sometimes a split that appears equitable may not be.