Author: Brian King

End-of-Year Tax Planning Tips

My first opportunity to vote in a presidential election was the year 2000. Bush v. Gore. Hanging chads. A month of legal battles until we had a President Elect. I always wondered whether another election would surpass that chaos. 20 years later I have my answer. Read more…

IRS Provides Additional Relief for 2020 Required Minimum Distributions

Earlier this year Congress passed the CARES Act as part of the legislative response to COVID-19. The bill includes a waiver of required minimum distributions (RMDs) for the 2020 tax year for IRAs (including inherited IRAs and Roth IRAs) and defined contribution plans. Read more…

How Tax Projections Help You Make Better Financial Decisions

There is a phrase we say a lot here at Plancorp: “We should run a tax projection.” You might hear it when you ask if it makes sense to boost your charitable contributions this year, or when you call us with the good news that you’re getting a big bump in non-salary compensation. We also might reach Read more…

How to Use Grantor Retained Annuity Trusts (GRATs) to Transfer Wealth to Beneficiaries Tax-Free

One of our most important responsibilities is helping clients achieve financial independence. We love when we can tell them they have enough money to do whatever they want for the rest of their lives. But that milestone is hardly the end of the wealth management process. The next question we like Read more…

COVID-19 Summarizing Recent Legislation and Tax Relief

As we all learn to live with the impact the coronavirus is having on our daily lives, recent legislation and relief from the federal government seeks to alleviate the financial impact of COVID-19. The most significant piece of legislation is the Coronavirus Aid, Relief and Economic Security Act. Read more…

7 Ways You Can Take Advantage of the Down Market

Volatility and risk are part of the stock market experience – it’s why stocks produce higher returns than less-risky assets over long periods of time. We say this often, it’s easy to forget when the market declines. Read more…

U.S. Treasury Extends Tax Filing Deadline, Some States Follow Suit

The Treasury Department and Internal Revenue Service recently announced that the federal income tax filing due date had been automatically extended from April 15, 2020 to July 15, 2020.  Saturday’s release updated the notice issued on March 18th that payments could be deferred but not filing.  Read more…

5 Considerations for a Successful Wealth Transfer

You’ve worked your whole life to build and maintain your wealth, so thinking about passing it on can seem daunting. How much should you tell your children about your finances? And how can you distribute your wealth in a way that supports your heirs, as well as your community? Read more…

20% Qualified Business Income: Summary of Proposed Regulations

As we pass the 3rd Quarter estimated tax deadline for 2018, we shift ahead in thinking about year-end planning and projections.  One of the biggest tax planning opportunities arising from the Tax Cuts and Jobs Act is the new 20% Qualified Business Income (QBI) Deduction for business owners of sole Read more…

How Tax Reform Impacts Business Owners

While the Tax Cuts and Jobs Act impacted both individuals and businesses, changes to the business tax scheme were comparatively more comprehensive and permanent. As a business owner, the magnitude of the changes may seem overwhelming. Instead of getting caught up in the details of every Read more…

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