Tax Loss Harvesting – Dollars and Sense

Year-End Financial Planning With Jim Weil (Ep. 31)

By Dollars-and-Sense | November 8, 2023

How can you optimize your year-end financial planning?

With the end of the year nearing, it’s a good idea to review our financial plans and look at what we have set up for the long-term.

In this episode of Dollar$ and $ense, Jim Weil CFP®, CIMA®, managing partner at Private Vista, joins Nicole Romito to talk about year-end planning strategies. They discuss managing income and taxes, including accelerating or deferring income based on tax brackets, bunching deductions, and timing bonuses for business owners. Nicole and Jim also touch on funding retirement plans and leveraging tax brackets through family member payroll additions while exploring the importance of proactive planning and consulting with financial advisors and CPAs to navigate changing tax laws.

Nicole and Jim discuss:

Year-end planning strategies for managing income and taxes
Flexibility in income and compensation plans for business owners and executives
Tax loss harvesting and timing considerations
The benefits and drawbacks of interest rate increases
Reviewing estimated tax payments and maximizing deductions
And more

Resources:

How Can Donor Advised Funds Be Used for Estate Planning? with Sean Julian (Ep. 27)

Connect with Nicole Romito:

Connect with Jim Weil:

About our Guest:

Jim Weil is a seasoned financial planning professional with over 30 years of dedicated expertise in the field. His career began in the late eighties after graduating with a financial planning degree from Purdue University. Jim’s commitment to excellence is demonstrated through his possession of the prestigious CFP (Certified Financial Planner) and CIMA (Certified Investment Management Analyst) designations. Jim’s professional journey has been marked by his passion for client success, and he has undertaken the role of managing partner for Private Vista for the past five years. Beyond his client-focused responsibilities, Jim’s influence extends to the board of directors of Hightower Advisors, Private Vista’s parent company. His exceptional leadership and financial acumen have made him an invaluable asset to the industry and a respected colleague for nearly two decades.

Podcast: Play in new window | Download | Embed

Subscribe: RSS | More

Preparing For 2023 After A Year Of Market Volatility With Bob Westrick (Ep. #10)

By Dollars-and-Sense | December 28, 2022

After a year of market ups and downs, investors are looking for an opportunity to pull ahead in the new year. How can they start off 2023 on the right foot?

Welcome back to another episode of Dollar$ and $ense! In this episode, Nicole Romito speaks with Bob Westrick, Partner at Private Vista, on how market volatility has impacted investors in 2022 and where they should focus their attention into the New Year. Bob shares key takeaways from this past year and how those experiences will change investment strategies moving forward.

Bob discusses:

The difference in opportune environments between stocks and bonds and why neither has been safe in the 2022 market
How tax loss harvesting can create returns from capital loss in investments
What is the current view of 2023 and possibly 2024 of advisors and economists
What can be controlled during market volatility and where advisors should focus their attention
And more

Connect with Nicole Romito:

Connect with Bob Westrick:

About our Guest:

In 1983, Bob Westrick left a “Big Eight” public accounting firm to work for one of his audit clients. Eight years later, his entrepreneurial itch was scratched as he started a partnership in the financial services industry. Two years later, Bob co-founded WNA Wealth Advisors, one of the precursor firms to Private Vista. He is a frequent speaker and he is often interviewed on subjects ranging from economic conditions to wealth management. His experience as an accountant, business owner and financial advisor gives Bob a unique perspective to offer his clients.

Podcast: Play in new window | Download | Embed

Subscribe: RSS | More