{"id":2025,"date":"2017-10-10T18:50:44","date_gmt":"2017-10-10T18:50:44","guid":{"rendered":"http:\/\/www.feginsights.com\/?p=838"},"modified":"2020-04-16T11:06:00","modified_gmt":"2020-04-16T16:06:00","slug":"seasons-change-and-so-does-tax-planning","status":"publish","type":"post","link":"https:\/\/yourlifeafterwork.com\/seasons-change-and-so-does-tax-planning\/","title":{"rendered":"Seasons Change And So Does Tax Planning"},"content":{"rendered":"<p>[vc_row][vc_column width=&#8221;1\/4&#8243; offset=&#8221;vc_hidden-xs&#8221;][vc_widget_sidebar sidebar_id=&#8221;sidebar-main&#8221;][\/vc_column][vc_column width=&#8221;3\/4&#8243;][vc_column_text]<\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"color: #000000;\">Fall brings about many changes. Autumn\u2019s beautiful foliage arrives. Thanksgiving and Christmas approach. Another year begins to wind down. During this season of transition, the average family does not think much about taxes.<\/span><\/p>\n<p><span style=\"color: #000000;\">Of course, you are not average, or you would not be taking time to read this column. Now is the time to conduct 2017 tax planning and think about 2018 tax planning as well. A proactive approach to tax planning now can help you make material changes while there is still time.\u00a0\u00a0\u00a0<\/span><\/p>\n<p><span style=\"color: #000000;\">We just sent a tax planning package to the families we serve. The package may also be requested online at <a href=\"https:\/\/yourlifeafterwork.com\">wordpress-128435-380520.cloudwaysapps.com<\/a>. The tax package asks individuals whether they have experienced various life events in the previous year. It also asks about events in the past year that may have affected parents or adult children.<\/span><\/p>\n<p><span style=\"color: #000000;\">Most people benefit from conducting intentional and comprehensive tax planning annually. The tax package we refer to above focuses specifically on identifying situations that may impact an individual\u2019s tax status.<\/span><\/p>\n<p><span style=\"color: #000000;\">Marriage, the death of a spouse and divorce may all change how income is reported to the IRS. Certain birthdays can also affect taxes. Have you reached the magical age of 59.5 or 70.5? Rules governing tax-deferred withdrawals begin to change at these milestone birthdays. While taxable income does not change, new rules and responsibilities affecting taxation come into play. \u00a0\u00a0<\/span><\/p>\n<p><span style=\"color: #000000;\">Families often question why we ask about the situations of parents or adult children. First and foremost, we want them to be aware of opportunities to reduce tax liability. \u00a0We also realize that when significant life events happen, tax planning is the last thing on people's minds. It is not natural to consider the tax implications that accompany being laid off or divorced. Nor is it natural to think about income taxes upon receiving a terminal diagnosis. Regardless of life\u2019s events, taxes march on. Our objective is to help individuals minimize financial burdens and make the most of a potentially bad situation.<\/span><\/p>\n<p><span style=\"color: #000000;\">The tax package serves as a reminder of year-end tax planning. It also helps individuals prepare for the year ahead. What do you expect in 2018? Perhaps you\u2019d like to contribute to a church building fund. Maybe you are planning a wedding. Retirement will certainly affect your income. Any of these future issues should prompt financial considerations today.<\/span><\/p>\n<p><span style=\"color: #000000;\">Many people believe there are two tax codes: one for the rich; one for the poor. I believe the two codes relate not to wealth and income, but rather to knowledge and action. Some individuals stay informed about tax codes while others remain uninformed. \u00a0Sadly, some people know they should do something about their tax situation, but never take action.<\/span><\/p>\n<p><span style=\"color: #000000;\">Please don't fall into the trap of saying, \u201cMy CPA takes care of this.\u201d Even the best professionals cannot turn back time. Once midnight arrives on December 31, many choices you can make now will be lost forever.<\/span><\/p>\n<p><span style=\"color: #000000;\">Tax advice provided by CPA\u2019s affiliated with Financial Enhancement Group, LLC.<\/span><\/p>\n<p><em>Disclaimer: Do not construe anything written in this post or this blog in its entirety as a recommendation, research, or an offer to buy or sell any securities. Everything in this post is meant for educational and entertainment purposes only. I or my affiliates may hold positions in securities mentioned in the blog. Please see my Disclosure page for full disclaimer.<\/em>[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column offset=&#8221;vc_hidden-lg vc_hidden-md vc_hidden-sm&#8221;][vc_widget_sidebar sidebar_id=&#8221;sidebar-main&#8221;][\/vc_column][\/vc_row]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[vc_row][vc_column width=&#8221;1\/4&#8243; offset=&#8221;vc_hidden-xs&#8221;][vc_widget_sidebar sidebar_id=&#8221;sidebar-main&#8221;][\/vc_column][vc_column width=&#8221;3\/4&#8243;][vc_column_text] &nbsp; Fall brings about many changes. Autumn\u2019s beautiful foliage arrives. Thanksgiving and Christmas approach. Another year begins to wind down. During this season of transition, the average family does not think much about taxes. Of course, you are not average, or you would not be taking time to read this [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":2101,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","footnotes":""},"categories":[43,44],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Seasons Change And So Does Tax Planning - The Financial Enhancement Group<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/yourlifeafterwork.com\/seasons-change-and-so-does-tax-planning\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Seasons Change And So Does Tax Planning - The Financial Enhancement Group\" \/>\n<meta property=\"og:description\" content=\"[vc_row][vc_column width=&#8221;1\/4&#8243; offset=&#8221;vc_hidden-xs&#8221;][vc_widget_sidebar sidebar_id=&#8221;sidebar-main&#8221;][\/vc_column][vc_column width=&#8221;3\/4&#8243;][vc_column_text] &nbsp; Fall brings about many changes. Autumn\u2019s beautiful foliage arrives. Thanksgiving and Christmas approach. Another year begins to wind down. During this season of transition, the average family does not think much about taxes. Of course, you are not average, or you would not be taking time to read this [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/yourlifeafterwork.com\/seasons-change-and-so-does-tax-planning\/\" \/>\n<meta property=\"og:site_name\" content=\"The Financial Enhancement Group\" \/>\n<meta property=\"article:published_time\" content=\"2017-10-10T18:50:44+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-04-16T16:06:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/yourlifeafterwork.com\/wp-content\/uploads\/2017\/10\/seasons.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"346\" \/>\n\t<meta property=\"og:image:height\" content=\"261\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Joseph A. Clark, CFP\u00ae\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Joseph A. Clark, CFP\u00ae\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/yourlifeafterwork.com\/seasons-change-and-so-does-tax-planning\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/yourlifeafterwork.com\/seasons-change-and-so-does-tax-planning\/\"},\"author\":{\"name\":\"Joseph A. Clark, CFP\u00ae\",\"@id\":\"https:\/\/yourlifeafterwork.com\/#\/schema\/person\/619c5991c72297fe35e16f49883d43e4\"},\"headline\":\"Seasons Change And So Does Tax Planning\",\"datePublished\":\"2017-10-10T18:50:44+00:00\",\"dateModified\":\"2020-04-16T16:06:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/yourlifeafterwork.com\/seasons-change-and-so-does-tax-planning\/\"},\"wordCount\":619,\"publisher\":{\"@id\":\"https:\/\/yourlifeafterwork.com\/#organization\"},\"articleSection\":[\"Retirement Planning\",\"Taxes\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/yourlifeafterwork.com\/seasons-change-and-so-does-tax-planning\/\",\"url\":\"https:\/\/yourlifeafterwork.com\/seasons-change-and-so-does-tax-planning\/\",\"name\":\"Seasons Change And So Does Tax Planning - The Financial Enhancement Group\",\"isPartOf\":{\"@id\":\"https:\/\/yourlifeafterwork.com\/#website\"},\"datePublished\":\"2017-10-10T18:50:44+00:00\",\"dateModified\":\"2020-04-16T16:06:00+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/yourlifeafterwork.com\/seasons-change-and-so-does-tax-planning\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/yourlifeafterwork.com\/seasons-change-and-so-does-tax-planning\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/yourlifeafterwork.com\/seasons-change-and-so-does-tax-planning\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/yourlifeafterwork.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Seasons Change And So Does Tax Planning\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/yourlifeafterwork.com\/#website\",\"url\":\"https:\/\/yourlifeafterwork.com\/\",\"name\":\"The Financial Enhancement Group\",\"description\":\"We Help Reduce Your Financial Regrets\",\"publisher\":{\"@id\":\"https:\/\/yourlifeafterwork.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/yourlifeafterwork.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/yourlifeafterwork.com\/#organization\",\"name\":\"The Financial Enhancement Group\",\"url\":\"https:\/\/yourlifeafterwork.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/yourlifeafterwork.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/yourlifeafterwork.com\/wp-content\/uploads\/2020\/04\/FEG-Logo-Color-on-Transparent_full_crop-1-e1588176809215.png\",\"contentUrl\":\"https:\/\/yourlifeafterwork.com\/wp-content\/uploads\/2020\/04\/FEG-Logo-Color-on-Transparent_full_crop-1-e1588176809215.png\",\"width\":350,\"height\":116,\"caption\":\"The Financial Enhancement Group\"},\"image\":{\"@id\":\"https:\/\/yourlifeafterwork.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/yourlifeafterwork.com\/#\/schema\/person\/619c5991c72297fe35e16f49883d43e4\",\"name\":\"Joseph A. Clark, CFP\u00ae\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/yourlifeafterwork.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/7f10c8f24fcf23f54e4ac6fce34cbb74?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/7f10c8f24fcf23f54e4ac6fce34cbb74?s=96&d=mm&r=g\",\"caption\":\"Joseph A. Clark, CFP\u00ae\"},\"url\":\"https:\/\/yourlifeafterwork.com\/author\/bigjoeyourlifeafterwork-com\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Seasons Change And So Does Tax Planning - The Financial Enhancement Group","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/yourlifeafterwork.com\/seasons-change-and-so-does-tax-planning\/","og_locale":"en_US","og_type":"article","og_title":"Seasons Change And So Does Tax Planning - The Financial Enhancement Group","og_description":"[vc_row][vc_column width=&#8221;1\/4&#8243; offset=&#8221;vc_hidden-xs&#8221;][vc_widget_sidebar sidebar_id=&#8221;sidebar-main&#8221;][\/vc_column][vc_column width=&#8221;3\/4&#8243;][vc_column_text] &nbsp; Fall brings about many changes. Autumn\u2019s beautiful foliage arrives. Thanksgiving and Christmas approach. Another year begins to wind down. During this season of transition, the average family does not think much about taxes. Of course, you are not average, or you would not be taking time to read this [&hellip;]","og_url":"https:\/\/yourlifeafterwork.com\/seasons-change-and-so-does-tax-planning\/","og_site_name":"The Financial Enhancement Group","article_published_time":"2017-10-10T18:50:44+00:00","article_modified_time":"2020-04-16T16:06:00+00:00","og_image":[{"width":346,"height":261,"url":"https:\/\/yourlifeafterwork.com\/wp-content\/uploads\/2017\/10\/seasons.jpg","type":"image\/jpeg"}],"author":"Joseph A. Clark, CFP\u00ae","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Joseph A. Clark, CFP\u00ae","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/yourlifeafterwork.com\/seasons-change-and-so-does-tax-planning\/#article","isPartOf":{"@id":"https:\/\/yourlifeafterwork.com\/seasons-change-and-so-does-tax-planning\/"},"author":{"name":"Joseph A. Clark, CFP\u00ae","@id":"https:\/\/yourlifeafterwork.com\/#\/schema\/person\/619c5991c72297fe35e16f49883d43e4"},"headline":"Seasons Change And So Does Tax Planning","datePublished":"2017-10-10T18:50:44+00:00","dateModified":"2020-04-16T16:06:00+00:00","mainEntityOfPage":{"@id":"https:\/\/yourlifeafterwork.com\/seasons-change-and-so-does-tax-planning\/"},"wordCount":619,"publisher":{"@id":"https:\/\/yourlifeafterwork.com\/#organization"},"articleSection":["Retirement Planning","Taxes"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/yourlifeafterwork.com\/seasons-change-and-so-does-tax-planning\/","url":"https:\/\/yourlifeafterwork.com\/seasons-change-and-so-does-tax-planning\/","name":"Seasons Change And So Does Tax Planning - The Financial Enhancement Group","isPartOf":{"@id":"https:\/\/yourlifeafterwork.com\/#website"},"datePublished":"2017-10-10T18:50:44+00:00","dateModified":"2020-04-16T16:06:00+00:00","breadcrumb":{"@id":"https:\/\/yourlifeafterwork.com\/seasons-change-and-so-does-tax-planning\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/yourlifeafterwork.com\/seasons-change-and-so-does-tax-planning\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/yourlifeafterwork.com\/seasons-change-and-so-does-tax-planning\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/yourlifeafterwork.com\/"},{"@type":"ListItem","position":2,"name":"Seasons Change And So Does Tax Planning"}]},{"@type":"WebSite","@id":"https:\/\/yourlifeafterwork.com\/#website","url":"https:\/\/yourlifeafterwork.com\/","name":"The Financial Enhancement Group","description":"We Help Reduce Your Financial Regrets","publisher":{"@id":"https:\/\/yourlifeafterwork.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/yourlifeafterwork.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/yourlifeafterwork.com\/#organization","name":"The Financial Enhancement Group","url":"https:\/\/yourlifeafterwork.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/yourlifeafterwork.com\/#\/schema\/logo\/image\/","url":"https:\/\/yourlifeafterwork.com\/wp-content\/uploads\/2020\/04\/FEG-Logo-Color-on-Transparent_full_crop-1-e1588176809215.png","contentUrl":"https:\/\/yourlifeafterwork.com\/wp-content\/uploads\/2020\/04\/FEG-Logo-Color-on-Transparent_full_crop-1-e1588176809215.png","width":350,"height":116,"caption":"The Financial Enhancement Group"},"image":{"@id":"https:\/\/yourlifeafterwork.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/yourlifeafterwork.com\/#\/schema\/person\/619c5991c72297fe35e16f49883d43e4","name":"Joseph A. Clark, CFP\u00ae","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/yourlifeafterwork.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/7f10c8f24fcf23f54e4ac6fce34cbb74?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/7f10c8f24fcf23f54e4ac6fce34cbb74?s=96&d=mm&r=g","caption":"Joseph A. Clark, CFP\u00ae"},"url":"https:\/\/yourlifeafterwork.com\/author\/bigjoeyourlifeafterwork-com\/"}]}},"_links":{"self":[{"href":"https:\/\/yourlifeafterwork.com\/wp-json\/wp\/v2\/posts\/2025"}],"collection":[{"href":"https:\/\/yourlifeafterwork.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/yourlifeafterwork.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/yourlifeafterwork.com\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/yourlifeafterwork.com\/wp-json\/wp\/v2\/comments?post=2025"}],"version-history":[{"count":0,"href":"https:\/\/yourlifeafterwork.com\/wp-json\/wp\/v2\/posts\/2025\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/yourlifeafterwork.com\/wp-json\/wp\/v2\/media\/2101"}],"wp:attachment":[{"href":"https:\/\/yourlifeafterwork.com\/wp-json\/wp\/v2\/media?parent=2025"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/yourlifeafterwork.com\/wp-json\/wp\/v2\/categories?post=2025"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/yourlifeafterwork.com\/wp-json\/wp\/v2\/tags?post=2025"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}