Tax Planning Moves to Consider Before Year-End
Tax planning starts long before filing season. Discover key year-end tax strategies, retirement contribution opportunities, charitable giving tips, and other financial moves before December 31.
Tax Planning
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Mid-Year Financial Planning: A Strategic Guide for Business Owners
In business and life, summer presents an opportunity to review your goals and ensure that you remain on track. As part of a regular discipline, it will help protect against unexpected surprises at year end, when time and flexibility are limited. A meaningful mid-year review goes beyond comparing results to a budget. It should answer three…
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Navigating Summer Relocations: A Tax Planning Guide for High-Income Families
Mid-year relocations create complex tax challenges for high-income families. Learn from Bryn Mawr Trust on how to manage equity compensation, establish domicile, and avoid multi-state tax exposure.
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The Path to Philanthropist: Building a Strategic Giving Plan
Discover how to give strategically by aligning your philanthropy with your key values, setting a budget, and focusing your impact where it matters most.
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From Kindergarten to College: Building a Tax-Efficient Education Fund
The cost of education continues to outpace general inflation, and with student debt still lingering in the news cycle, families today are taking a closer view of the cost of college.
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Balancing Roth Conversions and Tax Deferral: Crafting a Smarter Retirement Strategy
The Traditional Approach: Deferring Taxes Over the last 50 years, investors have become very familiar with the adage “Defer, defer, defer!” when it comes to tax planning. The most accessible deferral vehicles have long included employer-sponsored 401(k) plans, traditional IRAs, and deferred compensation programs. By pushing income into the future, these tools allow high earners…
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Purpose Trusts: A Modern Tool for Wealth Planning
Wealth planning strategies are rarely about numbers alone, and traditional structures may not meet the complex long-term goals individuals seek to achieve. One planning concept that has gained increased attention in recent years is the purpose trust, designed to carry-out a defined objective rather than simply distributing assets to beneficiaries. Purpose trusts are not new, but their…
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How to Reduce Tax Season Stress (Ep. 10)
Why does tax time feel so overwhelming, and what can be done throughout the year to avoid those stressful moments in April? In this episode, Jamie Hopkins and Kate Duffy are joined by Michael W. Valenti, CPA, CFP®, CEPA®, MAcc, Tax Director at Bryn Mawr Trust Advisors, to break down why taxes feel emotional and…
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Making the Most of Bonus Season: Smart Planning for High-Earning Professionals
For many professionals, bonus season is both rewarding and complex. While a year-end payout can represent a substantial portion of total compensation, it also presents an opportunity—and a challenge—for effective financial and tax planning. Thoughtful preparation can help ensure that your bonus works harder for you, aligning short-term windfalls with long-term wealth strategies. Bonuses are…
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The Hidden Truth: Your Tax Strategy IS Your Cash Flow Strategy
One of the basic tenets of the U.S. Internal Revenue Code is that everything has a cost, even if it’s not immediate. With few exceptions, all income gets taxed at some point. “At some point” is key. Taxpayers have some flexibility in recognizing income and paying tax on it. For example, if you own a…
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Tax-Smart Retirement Income Planning Strategies
Retirement is a goal we set with dreams of traveling abroad, playing golf, relaxing on the beach, pursuing a passion project, spending more time with family and friends, or ticking off items on our personal bucket list. As retirement comes into view, the most common question is. “Will you be financially secure when you take…
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Financial Planners Can Bridge the Gap
As you accumulate wealth over a lifetime, complexity follows. Early in your career, financial planning may have consisted of budgeting, cash flow, building an emergency fund, and getting proper insurance in place. You may even engage an advisor for investing, an attorney to draft wills, or a Certified Public Accountant (CPA) to do your taxes….
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Resources — 2025-2026 Year-End Tax Planning Guide [PDF]
Staying current on the evolving tax landscape is crucial for effective financial planning. Download our Annual Tax Planning Guide and Year-End Planning Checklist to help keep you informed and on track about current tax and legal regulations.
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The Importance of Placing Properties in an LLC for Estate Purposes
Estate planning is one of the most thoughtful decisions property owners can make when placing real estate assets in a Limited Liability Company (LLC). Many people think estate planning is just about writing a will, but it involves much more—especially if you own valuable property. Using an LLC for real estate can provide legal protection,…
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The Difference Financial Planning Can Make
Financial planning can have many definitions. It can relate to your business, your finances, or your family in general. This exercise provides a road map of where you have been financially, where you are, and where you want to go. I am often asked how frequently I should partake in this exercise, and my answer…
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WEBINAR: Getting Ahead of the Tax Season: Deadlines, Maximizing Deductions & New Policies
Watch the replay of our exclusive webinar designed to equip you with the knowledge and strategies needed to successfully navigate tax season.
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Turbulence Ahead: Stay Informed and Prepared in Tax Planning
Now is the time to prepare for the potential volatility ahead in 2025 tax planning. With massive tax increases scheduled for year-end, this may be the most consequential year for tax legislation since the 2017 Tax Cuts and Jobs Act (TCJA). As the TCJA sunsets, increases to marginal tax brackets, decreases to gift and estate…
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Key Policy Changes in 2025 Impacting Your Financial Planning
As 2025 approaches, policy shifts under a new Trump administration are taking shape. For investors, understanding the new tax, healthcare, and retirement landscape is crucial to navigating the future. Here are some of the most impactful potential policy changes and how they may influence your financial planning. Tax Reform One primary goal is the continuation…
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WEBINAR: Year-End Tax Strategies
As the year draws to a close, it’s the perfect time to review effective tax strategies. Watch our insightful webinar where we’ll uncover powerful tax-saving methods that can help you maximize your savings before the end of the year. Whether you are an individual or a business owner, you’ll learn actionable tips to reduce your…
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Essential Reminder: Take Your Required Minimum Distributions
As the year draws to a close, retirees need to remember to take their Required Minimum Distributions (RMDs) from retirement accounts. The Internal Revenue Service (IRS) mandates this annual withdrawal for individuals who have reached a certain age, and failing to take it can result in significant penalties. Required Minimum Distributions are the minimum amounts…
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Year-End Tax Planning: Maximizing Tax Savings with Tax Loss Harvesting
As we fast approach the end of 2024, tax planning becomes critical. One strategy that doesn’t always get the attention it deserves is tax loss harvesting. While the term might sound technical, the concept is simple, and when applied correctly, it can yield significant benefits. Let’s break down tax loss harvesting, why it matters, and…
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Five Key Investment Moves to Make Before Year-End
Heading into the end of the year, as you contemplate the ramifications of the recent presidential election, prepare your Thanksgiving celebration, and compose your holiday gift lists, it’s a good time to assess your financial foundation. Here are five essential investment moves to consider before the new year. 1. Review and Adjust Your Risk Exposure…
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The Three Most Important Questions to Answer Before Gifting to Charity This Year
For many of us, the end of the year is often a mad dash for charitable giving. Before you write that check this December, take time to reflect on how you will gift, the timing, and who will gift alongside you to make your donation most meaningful. There are many ways to give, including the…
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2024 Year-End Tax Planning Essentials
It may be hard to believe, but December 31 will be here soon. Now is a great time to review your finances and implement smart tax planning to reduce your tax bill potentially. Here are seven essential strategies to consider. 1. Tax-Loss Harvesting Tax-loss harvesting involves selling investments that have lost value to offset capital…
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Resources — 2024-2025 Year-End Tax Planning Guide [PDF]
Staying current on the evolving tax landscape is crucial for effective financial planning. Download our Annual Tax Planning Guide and Year-End Planning Checklist to help keep you informed and on track about current tax and legal regulations.
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The Importance of Adapting Financial and Estate Plans to Legal Changes
When the foundation of a structure becomes unstable, everything built on top must adjust or risk collapse. This principle is not only true in construction but also in financial and estate planning. In the United States, financial and estate planning is deeply intertwined with legal and tax codes, which form the foundation for achieving our financial…
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5 Actions to Take Ahead of 2025 Tax Law Sunset
The Tax Cuts and Jobs Act of 2017 (“TCJA”) brought numerous changes to the tax code including reduced individual income tax rates, significant increases to the standard deduction, and doubling of the estate tax exemption. The legislation also has a sunset provision, meaning many of the changes are set to expire at the end of 2025.
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Four Things Your CPA Might Miss in Preparing Your Taxes
Four commonly missed topics you should make sure you disclose to your tax preparer that may help reduce the risk of costly return errors.
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