FINANCIAL AND RETIREMENT PLANNING
Making sure that your finances are in sync with your future retirement plans is important. Not only can this benefit you by reducing some taxes, but it can prepare both you and your family for the future. Because you cannot take advantage of some financial moves after the first of the year, our team suggests that you take the time to review your plans now. Here are a few reasons why doing this sooner rather than later can help. Areas to Consider for Tax Reductions Having an individual retirement account (IRA) can help in many ways. An important part of an IRA is to keep it funded. By doing this, you can help secure future retirement funds. Keeping an IRA funded can also assist you at tax time. If you’re employed with a business that has an employer-sponsored retirement plan, it would be a good idea to contribute additional funds into it. One way to do this is to put added income, like bonuses, into your 401(k). This can increase your retirement savings and decrease your taxable income for 2018. RETIREMENT
distribution. If you have not taken an RMD out of your IRA account yet, you have until April 1. Postponing an RMD could significantly affect your marginal tax rate for 2018.
GIFTING AND GIVING
Another good way to reduce taxes is through both gifting and charitable giving. Giving either income or property to a loved one is a good strategy for reducing estate taxes. Remember not to go over the maximum annual amount to any one person. If you are interested in giving more than the maximum annual amount to a single person, you can set up a trust to sidestep that barrier. Giving to a charitable cause can mean that you give cash or property to various charities. Appreciated stock and donations from an IRA are also common. In addition, you can also set up a donor-advised fund or a private foundation for charitable giving. Don’t hesitate to call us to get started on financial and tax planning for 2018. Together, we can create a holistic financial and tax plan that meets your current objectives and sets you on a path to meet your long-term goals.
MINIMUM DISTRIBUTIONS
When you’ve hit the age where you will have to be taking funds out for your retirement, it’s important to remember there is an RMD, or a required minimum
Chris’ Paleo Corner:
PALEO ASPARAGUS SOUP 1. In a large pot, melt the butter, ghee, or oil. 2. Add the onion and pancetta and cook, stirring occasionally until the onion is translucent, about 6–8 minutes. 3. Add the asparagus and stir for 1 minute. 4. Add chicken stock and cover. Simmer on low for 10 minutes or until the asparagus is tender. 5. Add the parsley, tarragon, coconut milk, lemon zest, salt, and pepper. 6. Using an immersion blender or working in batches and transferring to a blender, puree the soup. 7. Return the soup to the pot and warm thoroughly. Season with more salt and pepper if desired. Garnish with tarragon or parsley. Recipe inspired by thrivingonpaleo.com DIRECTIONS
Thank You!
For us to be able to help family and friends just like you, we depend on referrals.
INGREDIENTS
• 2 tablespoons butter, ghee, or coconut oil • 1 1/2 ounces pancetta, diced • 1 onion, diced • 12 ounces asparagus, cut into small pieces • 2 cups chicken stock • 1 teaspoon fresh parsley, chopped • 2 tablespoons fresh tarragon, chopped
Thank you to the following people for your support!
Robert Essick Debbie Lempicki Raymond Trepanier
• 1/2 cup coconut milk • 1 teaspoon lemon zest • 1/4 teaspoon salt • Pepper to taste
888-390-4360 • 3
Plan. Protect. Preserve.
Made with FlippingBook - Online magazine maker