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Posted on August 13, 2024 by Dan Pascone
Down Market Tactics: A Modern Investor’s Guide to Tax Loss Harvesting
It’s August 2024, a snapshot in time when tax loss harvesting could have been used to significant effect. The S&P 500 saw its biggest single-day drop since September 2022. The Dow shed more than 1,000 points. The Nasdaq 100 erased almost $1 billion in market value. The Nikkei 225, Japan’s benchmark stock index, saw its […]
Posted on August 5, 2024 by Dan Pascone
How High Earners Can Thrive Between Jobs: Smart Emergency Funds
As careers progress and responsibilities change, the way we think about financial security evolves. When it comes to career transitions or even contemplating a career change, the financial safety net, specifically the emergency fund, gets a heightened priority. Although the often-prescribed six months of emergency funds may seem arbitrary, this guideline is designed to offer […]
Posted on July 29, 2024 by Dan Pascone
4 Financial Factors to Consider Beyond Salary
As a financial planner, evaluating job offers for high earners has evolved into an art form that goes beyond calculating the base salary. While the appeal of perks like free lunches, gym memberships, and in-office catering options is undeniable, these surface-level attractions are often used to distract from an otherwise lackluster package; they’re the cherries […]
Posted on July 23, 2024 by Dan Pascone
Maximizing Employer-Sponsored Retirement Plan Contributions
With benefits like immediate tax relief today and employer matches, employer-sponsored retirement plans, like 401(k)s, can be a relatively passive method of saving to a comfortable, secure retirement. However, genuinely harnessing their power requires understanding their history nuances and how to leverage them among your other tax-advantaged accounts. A Brief History of Employer-Sponsored Retirement Accounts […]
Posted on July 16, 2024 by Dan Pascone
Rolling Over Your 401(k): Best Practices for Managing Retirement Accounts
Managing your 401(k) might seem like a small fish in a big sea of decisions while considering job changes, but it’s actually a whale of a task. A 401(k) rollover involves transferring funds from your current 401(k) plan to a new 401(k) plan or an IRA. The IRS allows you sixty days from the date […]
Posted on July 11, 2024 by Dan Pascone
Upgrade Your Pay: How to Get the Best Compensation Package
Whether you just landed a new job or wonder whether the grass is greener elsewhere, your compensation package can be an excellent compass for making the best decision. Compensation packages can be very straightforward and a collection of financial and lifestyle perks to sweeten the deal, and in rare occasions, a golden ticket to multigenerational […]
Posted on July 2, 2024 by Dan Pascone
Tax Tips for Cash Bonuses, RSUs, and Stock Options
Companies typically offer various types of bonuses, such as cash bonuses, stock options, and Restricted Stock Units (RSUs), and each comes with unique considerations. These bonuses, typically awarded annually, quarterly, or even as performance-based incentives, are a welcome windfall, but the tax implications can be an unanticipated cold plunge. Let’s break down the key points […]
Posted on June 25, 2024 by Dan Pascone
The High Earner’s Guide to State and Local Taxes (SALT) & Deductions
Whether you’re on the brink of accepting an enticing job offer in a new state or are considering a move for a financial change of scenery, it’s crucial to analyze how State and Local Taxes (SALT) will impact your financial outlook. High SALT areas like New York and California may offer unparalleled professional opportunities, cultural […]
Posted on June 18, 2024 by Dan Pascone
Life Insurance Retirement Plans: Turning LIRPs into Powerful Retirement Tools
Let’s face it: when most people think of either life insurance or retirement planning, “exciting” isn’t the first word that comes to mind. But when those terms are combined into a “Life Insurance Retirement Plan,” the mundane concept turns into a crafty strategy that could give you access to sizable loans you might not even […]
Posted on June 11, 2024 by Dan Pascone
A Comprehensive Guide to NIIT for High-Income Investors
The Net Investment Income Tax (NIIT) almost always tends to catch high earners by surprise– sometimes, it feels like new tax rules and stipulations (like the AMT) are flying out of the woodwork at every turn. Call it what you want, the NIIT, an additional 3.8% tax on certain types of investment income for individuals […]