When it comes to saving for education expenses, many families find themselves weighing two popular options: Roth IRAs and 529 education savings plans. Both offer valuable tax advantages, but they work quite differently and serve distinct roles in your financial planning. Each option has unique benefits and limitations that could significantly ...

If you're an independent medical practitioner who's been in practice for 5-15 years, you're likely in your peak earning phase. But are you keeping as much of that income as possible? Successful physicians in your position can overpay their taxes by $25,000 to $75,000 this year simply by missing key ...

President Trump has formally signed the One Big Beautiful Bill Act into law, delivering the most comprehensive tax reform we've witnessed in years. According to federal analysis, this groundbreaking legislation provides over $600 billion in new tax relief, with meaningful benefits for middle-class American families. However, here's the critical point: these benefits ...

Can IRAs be used to benefit a charity? IRAs can be an excellent source of funds to provide meaningful support for your favorite charities, but using these funds requires careful planning to avoid costly mistakes and maximize benefits for both the charity and your other beneficiaries. Following these five strategic ...

Do you want assets in your IRA to go to more than one person or entity? Naming multiple beneficiaries is a smart and efficient way to do that without the added paperwork or fees of creating separate accounts. But to ensure each beneficiary gets what you intend (and avoids unnecessary ...

Women are living longer than ever before—but are we prepared for what that really means? Margret thought she had retirement figured out. At 62, she had built a respectable 401(k), would receive Social Security, and felt confident about her financial future. Then reality hit when I pointed out, "Margaret, you ...

On May 22, 2025, the House of Representatives passed a sweeping new tax reform bill titled The One Big Beautiful Bill Act (H.R.1)—by just one vote. While it still faces an uncertain fate in the Senate, this bill proposes some of the most significant changes to the tax code in recent ...

As a business owner, you've built something valuable that often represents both your life's work and a significant portion of your net worth. As a result, you face unique considerations when it comes to planning for and transitioning to retirement. At Prosperity Capital Advisors, we've worked with many business owners through this ...

When it comes to managing your equity compensation, timing is everything—especially when it comes to taxes. One of the most commonly misunderstood pitfalls employees face is the wash sale rule, particularly for those who receive restricted stock units (RSUs) that vest on a recurring schedule. Let’s explore a real-world example that illustrates how a ...

When it comes to retirement savings, what you don't know about IRA rollovers can cost you unexpected taxes and penalties. Whether you're changing jobs, inheriting retirement assets, or consolidating accounts, one misstep can set your retirement plans back years. From breaking the once-per-year rule to mishandling inherited accounts, these ten ...

In today’s unpredictable environment, it’s easy to feel overwhelmed by what you hear on the news—tariffs, inflation, elections, stock market swings, and global uncertainty. When markets bounce dramatically from day to day, no matter if you’re nearing retirement, already retired, or actively building wealth, many are left wondering: “How ...

As we navigate the evolving landscape following Liberation Day and the recent proposed tariff implementations by President Trump, we understand that these events may raise questions and concerns. Tariffs—taxes on imported goods—can impact the economy in several ways. They may lead to higher consumer prices, erode corporate profit margins, and ...