Featured post:
IRS Audits: What You Need to Know
The tax deadline is now behind us. Yet, some individuals and business owners are always worried about if they did everything correctly to avoid getting audited by the IRS. Filing taxes can be complex and some tax codes can be… Read Now >>
An Entrepreneur’s Guide to Selecting the Right Estate Planning Attorney
February 14, 2024
For affluent entrepreneurs, selecting the right estate planning attorney is a critical decision. The right legal guidance can not only protect your wealth, but also the legacy left for future generations. An estate planning attorney’s role is to provide guidance… Read Now >>
Unlocking Infinite Returns in Real Estate: A Strategic Guide
February 7, 2024
In real estate investing, the concept of “infinite returns” is the ideal scenario. It happens when the investor is able to recoup their initial investment, while continuing to generate additional cash flow and grow their investment portfolio without investing any… Read Now >>
Honoring the Timeless Wisdom of Charlie Munger
January 24, 2024
The investment world recently bid farewell to one of its most esteemed figures: Charlie Munger. In case you didn’t know, he was the Vice Chairman of Berkshire Hathaway and long-time business partner of Warren Buffett. Munger was not just an… Read Now >>
How to Navigate Unpredictable Stock Markets
January 17, 2024
In the world of investing, stock market predictions are everywhere you look. Financial analysts and industry “experts” are always willing to share their forecasts for market trends, anticipated stock performances and economic shifts that may affect the market. Yet, these… Read Now >>
How to Take Advantage of Catch-up Contributions
January 10, 2024
When the SECURE 2.0 Act was enacted in 2022, it brought a lot of changes to affect financial planning strategies. One of the big additions allowed taxpayers to change their retirement plans by allowing for catch-up contributions starting in 2025.… Read Now >>
What is the NIIT and How Might it Affect Your Taxes?
January 3, 2024
Is the net investment income tax (NIIT) relevant to your financial situation? This is an important tax to understand when it comes to your overall financial planning and specific tax planning throughout the year. NIIT Basics The NIIT is a… Read Now >>
Is Your 2024 Financial Plan Ready?
December 27, 2023
Happy holidays from Illumination Wealth! We wish everyone the best as we prepare to ring in the New Year. Whether you are ready for 2024 or not, it is here. It’s time to make sure your 2024 financial plan is… Read Now >>
Philanthropic Planning: The Tax Advantages of Charitable Remainder Trusts (CRTs)
December 18, 2023
If you’ve been following the Illumination Wealth Blog this month, you will have discovered our article series on philanthropic planning. We are covering different charitable giving strategies. You can share your wealth to support the charities you care about most,… Read Now >>
Philanthropic Planning: The Benefits of Donor-Advised Funds (DAFs)
December 13, 2023
We are continuing our year-end article series focused on charitable giving and philanthropic tax planning. The proper strategies can enable you to make a bigger difference through charitable donations, while also benefitting you from a tax perspective. Check out our… Read Now >>
Philanthropic Planning: Maximize Capital Gains by Gifting Appreciated Stock
December 6, 2023
Charitable giving can be a smart financial strategy from a tax perspective, and you can also do a lot of good by supporting your favorite charitable organizations. Last week, we discussed some general charitable gifting strategies. [Click here to read… Read Now >>
