Tax News & Insights from Tax Centers of Georgia
Should I Rebalance My 401(k) Mid-Year?
Mid-year is a common time for people to reassess their finances – including their 401(k) strategy. From market changes to personal life events, the second half of the year often brings new information that could affect how investment allocations align with your goals...
The 401(k) Vesting Schedule: Why You Should Care
Depending on your 401(k) vesting schedule, it may take you up to 6 years to fully own your matching contributions. Unfortunately, the 401(k) vesting schedule isn’t always clear to everyone. In a recent Vanguard survey, “The firm found that only a third (33%) of...
7 Strategies to Maximize 401(k) Savings in 2025
Whether you are planning to retire in 2 years or 20, you should be looking for ways to maximize 401(k) savings. Many Americans do not have nearly enough to retire, according to recent reports. According to the Retirement Income Institute and Alliance for Lifetime...
15 Ways to Save Money on Extracurricular Activities
As the school year creeps closer, most parents are laser-focused on notebooks, backpacks, and new shoes. But there’s another major expense waiting just around the corner – and it’s one that often flies under the radar until it’s too late: Extracurricular...
Gen X Is Retiring Soon. Are They Ready?
Gen X is retiring soon. Are they ready? The outlook isn’t great. Gen X is the first generation to rely primarily on their own individual savings through 401(k)-like plans for retirement. They were tossed into DIY retirement planning with little support. As...
What Happens When People Stop Contributing to a 401(k)?
Given the uneasiness with the world and the economy, people have been asking more frequently if they should stop contributing to a 401(k). The short answer is no. History has shown that those who hang on and keep contributing, even during times of uncertainty, wind up...
401k Plan Rollover Delays: New Data Reveals Shocking Cost”
While much of the financial world has gone digital, 401k plan rollovers are still stuck in the past with paper forms, mailed checks, and weeks-long waits.
Atlanta advisor John L Mills Tax Centers of Georgia interviewed in Detroit during 1200 point stock market drop
WITH STOCK MARKETS TUMBLING, RESIDENTS INCREASINGLY WORRIED OVER 401(K) AND RETIREMENT PLANS ANCHOR HUEL PERKINS: Many of us who invest in the stock market are feeling a little bit rattled right now. ANCHOR MONICA GAYLE: But is...
Business Tax, a Secret IRS Gift to Business Owners
Stop Overpaying your Business Tax by Hundreds of Thousands of Dollars per year!
Why You Should Love Your Stinkers
Why You Should Love Your Stinkers We have had quite a few emails and calls about the 9 Ways to Reduce Your Taxes attachment in the November newsletter. Most of the questions were about the “wash sale” rule typically used in selling stocks so let’s spend some more time...
Tax Doctor
- The Only Constant is Change (Especially with Taxation)We talk a lot about people not doing tax planning and not spending more time creating the tax outcomes they want. We urge people to understand that it’s within their own control and that tax outcomes can be legally and ethically manipulated. We go on and on about the benefits. But…we understand why it’s so […]
- Smart Business Owners Increase their Company’s Sale Value Before and After Tax by Planning AheadMost business owners in any five year period can answer yes to at least one of these life event questions that would cause them to need to know what their company is worth. 1. Are you contemplating the sale of your business? 2. Are you working with or bringing in a partner? 3. Are you […]
- A Hidden Tax That You Can Avoid Paying with Proper PlanningPeople who earn more than a certain amount and who are enrolled in Medicare Part B or Medicare Part D, or both, will face additional premiums, called The Medicare Income-Related Monthly Adjusted Amount (IRMAA). IRMAA “surcharges,” which is a replacement word for a tax, are based on income earned two years prior to the coverage year. So, for […]