What is a Solo 401(k) Plan?
A Solo 401(k) or Individual Solo 401(k) is a special type of retirement plan for small business owners who don’t have any W2 employees on payroll (besides their spouse). As a tax planner and business owner myself, the solo 401(k) is one of my favorite tools to incorporate. In this guide, we will unravel how […]
Should I Set up An LLC for My Rental Property?
Setting up your first rental property comes with a barrage of decisions, one of which is whether to set up a Limited Liability Company (LLC) for your property. This question often plagues newcomers in the real estate investment sphere, leading to a mix of advice and misconceptions. In this article, we’ll explore the intricacies of […]
To Make True Passive Income, Experts Say You Must Avoid Doing These 6 Things
John Boyd quoted on GoBankingRates John Csiszar highlights common pitfalls to avoid when pursuing passive income. He emphasizes the importance of diversifying income streams and managing expectations for immediate returns. Jaspreet Singh cautions against expecting quick wealth, advocating for a patient, asset-building approach. Csiszar also stresses the need for ongoing monitoring of passive investments and […]
Advisors Find Rewards in Pro Bono Work
John Boyd quoted on InvestmentNews John Boyd, Founder and Lead Wealth Advisor at MDRN Wealth, finds fulfillment in providing pro bono financial literacy education to inmates in Arizona. His initiative aims to equip them with essential financial skills for reintegration into society post-release, reducing the likelihood of recidivism. Boyd’s efforts align with the CFP Board’s […]
King Cash Is Being Dethroned. What to Buy Now.
John Boyd quoted on Baron’s In this article by John Boyd, Founder and Lead Wealth Advisor at MDRN Wealth, the focus is on shifting cash into more lucrative investment options. With the expectation of rate cuts by the Federal Reserve, cash’s prospects are dimming. Boyd suggests exploring alternatives like bond ETFs from Vanguard, dividends, and […]
Mega Backdoor Roth: Your $69k Roth Tax Loophole (2024 Edition)
The Mega Backdoor Roth is a tax loophole that many affluent individuals take advantage of to put $69,000 into a Roth. If you are familiar with Roth IRAs, you know they are limited to only $7,000 a year in contributions ($8,000 if you’re over 50 years old) and they have income phase-outs. With the Mega Backdoor […]
Pass-Through Entity Tax (PTET): Easy-to-Understand Guide
The Pass-Through Entity Tax (PTET) is an entity-level income tax that business owners can elect to take to deduct their state taxes as a business expense and circumvent the $10,000 SALT cap. In 2017, the Tax Cuts and Jobs Act (TCJA) was passed, becoming the largest tax overhaul in modern history. One controversial aspect of […]
What is ESG and Values-Based Investing?
ESG (Environmental, Social, and Governance), Socially Responsible Investing, and other Values-Based Investing approaches are gaining prominence in today’s modern investment landscape. Investors now have greater flexibility than ever before to tailor their investment portfolios to align with their personal beliefs and values. According to a 2022 Gallup poll, nearly half of investors express interest in […]
Ultimate Tax Underwithholding Guide – How it Works and How to Avoid Penalties
When you’re filing your tax return and discover that you owe taxes, you may wonder if you’ll face penalties or interest, or if you’re in trouble with the IRS. As with most financial matters, the answer depends on various factors. In this guide, we’ll break down tax underwithholding and help you understand whether you should […]
Factor Investing: The Secret to Outperformance?
Factor Investing: The Secret to Outperformance? In the world of investing, the debate between actively managed portfolios and passive index funds has raged for decades. While index funds offer a straightforward, low-cost approach to market returns, some investors seek ways to outperform the market consistently. In this article, we explore the concept of Factor Investing […]