Tag: taxes

What Are Estimated Taxes? How Do They Work? What Should You Do About Them?

A few weeks ago, I was talking with a client about his 2023 taxes. About the fact that he hadn’t paid estimated taxes in 2023. And that a probably big, but who-really-knew-how-big tax bill was looming before April 15. And that his CPA would give him some recommendations for paying estimated taxes in 2024. And that he should pay those estimated taxes so we’re not in this position again next year.

Your 401(k) Match Can Now Be Roth (and Other Changes from the SECURE 2.0 Act)

Block Woman looking at a wall with the word "Roth" written many times on it.

Congress passed the Secure 2.0 Act in late 2022. Why should you care? You shouldn’t. Much.

401(k) legislation retirement savings tax planning taxes

Avoid These 5 Big Tax Mistakes with RSUs, Stock Options, and ESPP

Block Woman is wearing a battered tan-colored wool hat. There are 3 traps nearby: a cement block; a lasso; a green jungle camouflage.

Stock compensation can be a great pathway to wealth, but they also come with their own set of tax implications. Unfortunately, many taxpayers miss important tax considerations when it comes to stock compensation.

espp RSUs stock options tax planning taxes

Have You Fallen Prey to These Common Misunderstandings in Personal Finance?

You stick around as long as I have (yes, I am officially 103 years old), you start to see smart people have the same confusion and misunderstandings about personal finances from smart people.

financial planning investing taxes

Making Decisions Is Exhausting. Rules and Automation Help You Make Fewer Decisions in your Finances.

Block Women is lying on her side with a cartoon dialogue cloud above her head showing a complex decision diamond flowchart

You and I probably have at least one thing in common: the administrative burden of modern life is exhausting. Overwhelming. Frustrating. Just nothing good about it, but we can’t escape it.

automation charitable giving financial rules-of-thumb investing rules saving spending taxes

Has your tax season sucked? Make some changes now to make next year better (suck less).

If your tax season sucked (stressed out, last-minute activity, uncertainty, unexpectedly big tax payments), then, while the pain is still fresh, let’s think about how to make your life way less stressful next year.

estimated taxes tax planning tax season taxes

How Could the House and Biden Tax Proposals Affect You? What Should You Do Before Year’s End?

Have you been hearing a lot about the tax proposals coming out of Washington D.C.? First it was President Biden’s back in April. In early September, it was the House Ways and Means Committee’s. And currently, as of the time of publishing, the tax proposal situation in Congress is anybody’s guess.

tax planning taxes

Your Company Is Going Public. The Power of a Good Question. Or 5.

Much of the work of personal finance isn’t objective. There isn’t An Answer. Because it’s “personal” just as much as it is “finance.”

company stock going public investing IPO private company stock restricted stock units RSU RSUs stock options taxes

How many of my RSUs should I sell?

How many of your RSUs should you sell when they vest?

I have long given the advice, “Just sell ‘em all, ASAP.” But I’ve grown a bit soft in my old age (hush your mouth).

company stock investing restricted stock units RSU RSUs taxes

A Collection of The Most Important Bits About Restricted Stock Units (RSUs)

Flow FP's block woman contemplates future cash with a checklist in hand

Over many blog posts and over many conversations with clients and colleagues, I’ve trotted out a few different ways of framing and understanding RSUs. I never know what framing is going to hit home, so I thought I’d gather them all into one post. Maybe one thing I write below will finally make you go, “Oooooohhhhh! That’s how they work.” A gal can hope.

cash flow company stock investing restricted stock units RSU RSUs taxes

Your paystub can be very informative. And also wrong. When’s the last time you double-checked yours?

Flow FP's block woman contemplates her pay stub, noting the incorrect entry.

In the last month, two of my clients have looked at their paystubs and realized that their 401(k) contributions were going into Roth instead of pre-tax. This wouldn’t be a problem except for the fact that both of these clients had, months earlier, changed their 401(k) contributions away from Roth and into pre-tax. And somehow it didn’t “take.” This caused an administrative pain in the butt and higher-than-planned taxes.
Continue reading

401(k) employee benefits paycheck paystub taxes