Asset Protection Strategy Overview
Managing and preserving hard-earned wealth is a priority for many individuals. However, the specter of potential creditors looms ominously, ready to lay claim to our assets at any moment. Whether…
What is a QCD?
If you're over 70½ and taking required minimum distributions (RMDs), there's a smart way to give to charity and save on taxes. In this quick video, Matt Riesenweber breaks down how Qualified Charitable Distributions (QCDs) let you donate directly from your IRA—reducing your taxable income while still claiming the standard deduction. Learn how to make your generosity go further!
A Refresher on the Gift Tax
A parent can structure a gift of $1M to a child today such that neither the child nor the parent will pay any tax. A common misconception is that a…
Is an Installment Sale Preferable to All Cash At Closing?
Let’s assume you are ready to sell your business and you are reviewing two competing offers, both compelling in their own way. The first offer is for an all-cash payment…
Use Retirement Accounts to Give to Charity in Your Estate Plan
Whether you know it or not, your “estate” is comprised of different assets with different attributes. Some of your assets will be governed by your will, while others will be…
Your Business Tax Savings Might Be Doing More Harm Than Good
Small business owners sometimes have an enviable opportunity to save on tax. They rightfully look for every loophole to which they are entitled to save money on taxes by deducting…
How Much Estate Tax Will I Owe (Back-of-the-Napkin Calculation)
Washington state has published its estate tax threshold for 2024. Spoiler alert: it hasn’t changed from 2023. When learning about the estate tax, people generally want to understand how to…
Is the Nonprofit Advocating or Lobbying? The Answer Can Affect Tax-Exempt Status
During a lunch with an Executive Director of a local charity that currently qualifies as a tax-exempt 501(c)(3), I heard him remark that he is a constant advocate for both…
Navigating the Personal Residence Capital Gains Tax Trap for Seniors
As a senior citizen ages in her residence, she begins to understand a problem that has been brewing for years or decades. The house that she bought many moons ago…
Roth vs. Pretax
In this episode of Cornerstone Clips, Joel Ockey breaks down the key differences between pretax and Roth retirement contributions—and how to decide which one fits your financial goals. Learn how pretax contributions can reduce your taxable income today, while Roth contributions offer tax-free withdrawals in retirement. Whether you're planning for a lower tax bracket in the future or aiming for long-term tax-free growth, this quick guide will help you make a more informed decision.
