Tax-Advantaged Ways to Save for College Part 2

By |2020-10-13T16:52:30-05:00September 18th, 2020|College, Taxes|

In the college savings game, all strategies aren't created equal. The best savings vehicles offer special tax advantages if the funds are used to pay for college. Tax-advantaged strategies are important because over time, you can potentially accumulate more money with a tax-advantaged investment com [...]

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Minimizing Estate Taxes Part 2

By |2020-06-19T10:54:10-05:00May 22nd, 2020|Family, Planning, Real Estate, Taxes|

The act of giving away your property, either during life or at death, will probably be subject to one or more of several types of taxes (collectively referred to here as estate taxes), either on the federal level, state level, or both. These tax liabilities may be the largest potential expenses you [...]

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COVID-19 Announcement

By |2020-03-23T13:42:03-05:00March 23rd, 2020|401(k), College, Creative, Credit, Debt, Design, Family, Finance, Illness & Disability, Insurance, Investing, Leasing, Loans, Long-Term Care, Marriage, Military, Millenials, Planning, Real Estate, Retirement, Small Business, Social Security, Stock Market, Taxes, Unemployment, Videos, Women|

Dear Valued Client, In this rapidly changing situation, I want to assure you Woodmen Financial Resources is maintaining regular business operations to ensure we continue to serve you. First, I wish you, your family, and your community well during this unprecedented time. The health and safety of our [...]

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Tax Talk

By |2020-02-16T19:17:55-06:00February 14th, 2020|Podcasts, Taxes|

Taxes may potentially skyrocket in a few years, but what does that mean for you? Tune in to this week’s episode with Tax Attorney Sandy Botkin to learn how to protect your accounts. Real Wealth® is an online radio program with a purpose to educate Americans on financial wellness. Each episo [...]

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Minimizing Estate Taxes

By |2020-01-15T12:14:24-06:00November 26th, 2019|Taxes|

The act of giving away your property, either during life or at death, will probably be subject to one or more of several types of taxes (collectively referred to here as estate taxes), either on the federal level, state level, or both. These tax liabilities may be the largest potential expenses you [...]

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Caring for Your Aging Parents Part 3

By |2019-10-08T20:51:14-05:00October 8th, 2019|Family, Finance, Planning, Taxes|

Caring for your aging parents is something you hope you can handle when the time comes, but something you probably hope you never have to do. Caring for your aging parents means helping them plan for the future, and this can be overwhelming, both physically and emotionally. When the time comes for y [...]

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52 Reasons You Have Less Money Than You Could

By |2019-06-26T09:18:45-05:00June 28th, 2019|Podcasts, Taxes|

Did you know that there are up to 52 ways you can be taxed?! Financial Standout Rao Garuda came to the United States with just $7 in his pocket and a drive to educate himself and others. What he learned about financial planning and tax law will astonish you, so tune in to learn from one of the brigh [...]

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I need money: can I take funds from my IRA?

By |2019-06-05T08:51:22-05:00May 21st, 2019|Retirement, Taxes|

Yes, but the taxable portion of your distribution may be subject to a 10 percent penalty for early withdrawal if you're not yet age 59½. If you are 59½ or older and take money from your traditional IRA, you will not be assessed a penalty, though you may still have to pay income tax on all or part of [...]

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Continuous Learning

By |2019-04-09T21:37:03-05:00April 9th, 2019|Creative, Insurance, Investing, Taxes|

I recently had the opportunity to speak about my career at my high school alma mater. My wife Katie is a business teacher at Seymour high school and she asked if I would give a presentation on all of the career opportunities available within the field of financial planning. I’m not a great public sp [...]

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Child Tax Credit

By |2019-04-09T22:46:49-05:00March 19th, 2019|Taxes|

The child tax credit is a tax break for parents. The credit is $2,000 for each qualifying child. The child tax credit is not allowed with respect to any qualifying child unless you include the Social Security number of the child on your tax return. A $500 credit may also be available for each qualif [...]

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