Archives
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 >>
Philanthropic Planning: A Comprehensive Guide to Charitable Giving Strategies
November 29, 2023
Over the next four weeks, we will be diving into the topic of philanthropic planning. We will be covering important topics related to charitable giving, different types of gifting strategies, and of course, the specific financial benefits that come with… Read Now >>
Year-End Financial Review for Business Owners
November 15, 2023
Last week on the Illumination Wealth Blog, we provided some year-end financial review and tax planning tips for individuals and families. [Click here to read full article.] In this article, we will turn our focus to business owners and entrepreneurs.… Read Now >>
