Grand Life Financial

Turn Investment Losses into Tax Savings with Tax-Loss Harvesting
Tax-loss harvesting is a powerful strategy that allows investors to convert investment losses into tax deductions while maintaining their overall portfolio balance. This approach is particularly useful for minimizing short-term capital gains, which are taxed at higher rates than long-term gains

Tax-Loss Harvesting: Your Smart Tax Strategy Tax-loss harvesting is a powerful strategy that allows investors to convert investment losses into tax deductions while maintaining their overall portfolio balance. By strategically selling underperforming investments in taxable (non-retirement) accounts, you can offset capital gains and reduce your...

Tax Deductions and Credits: What you Need to Know

It is difficult to keep track of the tax deductions and credits, so here are some that may help you keep more of your hard-earned money.

Tax Deductions and Credits: What You Need to Know | John Foligno Tax Deductions There are two main ways to claim deductions: the standard deduction or itemized deductions—but you can only choose one. The standard deduction is a fixed amount that lowers your adjusted gross income (AGI).

Honored to be quoted in Next Avenue about the best financial gifts for grandkids.

Next Avenue is a nonprofit, digital journalism publication that is the first and only national publication for older adults, dedicated to covering the issues that matter most as we age.

Best Financial Gifts for Grandchildren Give money with a purpose, whether that is to pay college tuition, put a down payment on a house or learn to build wealth for their later years

Should I do a Roth conversion?

Transferring funds from qualified retirement accounts like a 401(k) or IRA to a Roth IRA can be a tax-efficient strategy in certain circumstances. However, it's important to proceed with caution to avoid penalties, as Roth conversions can be complex.

How can Roth conversions help with tax efficiency? Converting funds from qualified retirement accounts (401(k), IRAs) to a Roth IRA can be a potential tax-efficient strategy for certain situations. When doing...