Forefront

When life gets hard, money should be the last thing you have to worry about.

One of our clients recently received devastating news about her husband’s health.

In the middle of processing everything emotionally, she reached out:

“I will need your help with the end-of-life financial stuff.”

Most people think of financial planning in terms of stocks, tax strategy, and retirement.

And yes, it’s those things too. But it also looks like doing life with your clients and supporting them during difficult moments.

Over the years, we built a solid financial, estate, and tax plan with this client.

The last thing our client had to worry about during that difficult life transition was money.

Instead, she got to focus on being present with her family and saying goodbye with peace, rather than paperwork.

Your business is growing and so is your tax bill.

This can be caused by the QBI “cliff.”

Once your taxable income crosses a certain threshold, your 20% QBI deduction starts to phase out.

That can create a much bigger tax bill than expected.

Most business owners don’t realize it’s happening until they’re already over the line.

The good news is, there are ways to lower your taxable income.

1. Max out your Solo 401(k). This lowers your taxable income dollar-for-dollar.

2. Layer in a Cash Balance Plan. This can allow you to squirrel away an additional $100k+ annually, keeping you safely below the threshold.

3. Review your business structure. Sometimes a shift in how you are taxed changes the math entirely.

Sometimes small planning decisions create massive tax differences over time.

But without a strategy, more income can quietly create more problems.

That’s why tax planning year round matters.