As a business owner, you have a lot to think about. No matter what it is you’re trying to sell, you must consider the tax liability that is required to ensure that your company remains successful. As part of your financial planning and strategy, you need to think about how much you plan to sell, how much you’ll be required to pay the IRS, and whether there might be any deductibles or credits you can take advantage of. Keep reading to learn why investing in tax planning is one of the most worthwhile measures you can take if you want to see your business succeed. 

Planning for the future takes time, effort, and work. If you’re looking to save up for retirement, you need to start thinking about what you can do now so that later on, you can enjoy life comfortably and with less stress. But how can you know if you’re on the right track? When it comes to retirement planning, a wealth advisor is here to share a few things that can help you better prepare for future success.

The new year brings a refreshing sense of endless possibilities as we dream about what 2023 will bring, what we will accomplish, and the people who will be by our side. Reflecting on where we’ve been is an important part of navigating where we’re headed, so we are looking back on an impactful year as we look ahead to ways we can grow and improve in 2023.

When choosing to build out an estate plan, your focus is redirected to the people and charities you care about most. While enjoying your wealth right now is rewarding, there can be a lasting impact on those you hold close by ensuring your remaining assets are distributed accordingly. However, if it has been a while since you last reviewed your estate plan, it may be time to update it. Here are five indicators that should have you revising your assets so you can better share them with others when the time comes.

Inflation has bombarded headlines and our pocketbooks for nearly a year. On November 10^th, October Consumer Price Index data will be released and we think that this will be a “Groundhog Day” for inflation. October 2021 is when we began to see material jumps in year-over-year inflation. Thus, it is expected that inflation will begin decreasing simply based on last October as a reference point dropping out. We anticipate that this decrease will continue over the next 6 to 8 months as other high monthly figures fall out of the calculation.

Similar to our nation’s groundhog determining whether or not more cold, winter days lie ahead, we argue that we’ll find out whether or not the magnitude of inflation we’ve experienced this past year will persist.

As the end of Summer draws near, and school is starting, here in Dallas we are thankful the heat has pulled back from record levels. While still hot, we are at least heading in the right direction. Similarly, inflation is at multi-decade highs, clearly running too hot to be healthy, but like with local temperatures has very recently starting heading in the right direction.

When it comes time for tax season, many clients are unprepared for the bill when it arrives. Learning that more must be paid can leave many individuals scared, uncertain, and desperate for help. Fortunately, there are ways to minimize the shock that can come when filing, and a wealth advisor is here to better explain what you can do when it comes to tax planning in Dallas.