Spark Financial Advisors Articles
How to roll an I-Bond to a 529 account
Jim has Series I Savings Bonds in his name that have accrued a large sum of interest, but he is struggling to determine how he should fund his children’s college education. He knows that I-bond interest can be excluded from taxes when used for qualified tuition and...
6 Proposed SECURE Act 2.0 Changes Business Owners Need to Know
With a business to run you may not be paying much attention to retirement plan legislation. Congress is working towards the passage of what has been dubbed the SECURE Act 2.0 and it is packed with potential changes business owners need to know about. Don't worry,...
Round Two: The Proposed SECURE Act 2.0
Who's ready for round 2? With the passage of the SECURE Act in 2019 we saw many changes to retirement savings plans. Now, Congress is considering further changes to promote retirement security for Americans. The SECURE Act 2.0 passed the U.S. House of Representatives...
How to Fund a Buy-Sell Agreement
When exploring how to sell your business to a new owner you have probably come across the concept of a Buy Sell Agreement. Or perhaps you want to preserve the value of a business you've poured your heart into to protect your family and loved ones should something...
Understanding Buy Sell Agreements And Why You Need One
Bill is a part-owner and practitioner at a local medical practice, which he and his partner have been running for over 10 years. Bill’s partner has recently become fully disabled and is no longer able to participate in the practice. Although he would like to sell his...
Using a Qualified Charitable Distribution to Reduce Taxes
Angel and Bob are in their early 70s and find deep fulfillment through philanthropy. They’ve been donating cash to their favorite charities. Their mortgage is paid off, Angel sold her business, and neither of them are working full-time. They typically withdraw money...
Phantom Stock Plan Taxation for Privately Held Business Executives
As an executive at a closely held or private business, you know just how profitable and valuable a private business can be. You may want to join the ownership ranks of that business but have met resistance in becoming a formal shareholder or the firm may simply be too...
What You Need to Know: 2021 Democratic Tax Proposal
The 2021 Democratic tax proposal that just came out of the House Ways and Means committee has a number of surprises in it but mostly sticks to a theme “tax high income earners and the uber-wealthy.” While the proposal is not law, there are some planning issues you...
The Mega Backdoor Roth IRA
photo by Andrea Piacquadio via pexels.com Rachel is a high earning soloprenuer. While she’s already contributing the maximum to her pre-tax 401(k) plan, she still has a substantial amount that she would like to put towards her retirement but she makes too much...
Align Your Money With Your Values
Does your money reflect what’s important to you? Many people have an uncomfortable relationship with money because their money is not aligned with what they value. Our clients are looking for ways to use their money so they can live a meaningful life and perhaps leave...
Lauren Zangardi Haynes, CFP®, CIMA®, CEPA
Spark Financial Advisors
Fee-Only Financial Advisory in
Richmond, VA & Williamsburg, VA
413 Stuart Circle, Suite 220 Richmond, VA 23220
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