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Tax Strategies

A big part of accumulating wealth is to make sure you don’t give it away needlessly. There are a number of provisions in the tax code to help you grow your wealth and reduce tax payments and penalties. These are not complicated. They are not hard to understand or take advantage of. But they are important.

In this category I’ll explain the most important tactics you can utilize to minimize your tax so you can put as much as possible towards building your own future.

2015 Tax Changes You Can Still Jump On

by Neal Frankle, CFP ®, The article represents the author's opinion. This post may contain affiliate links. Please read our disclosure for more info.

Even though we’re into the second half of the year, it’s not too late to take advantage of some cool tax changes in 2015. Specifically, if you contribute to retirement plans, contributions limits have expanded across the board and more options are available. That means you can sock more money into those plans than ever […]

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How to Get a Full Tax Deduction for Your 529 Contributions

by Neal Frankle, CFP ®, The article represents the author's opinion. This post may contain affiliate links. Please read our disclosure for more info.

You can actually get a full tax deduction for your 529 contributions. This is completely legal and available to almost anyone. Have I got your attention?  Good…..let’s get to work. Quick Primer – What Is A 529 A 529 plan allows people to sock money away to help pay for college down the line.  While […]

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IRA Contribution Deadlines Most People Don’t Understand

by Neal Frankle, CFP ®, The article represents the author's opinion. This post may contain affiliate links. Please read our disclosure for more info.

If you are planning of funding a Traditional or Roth IRA for last year, you have to get your check in the mail no later than April 15th. Even if you file for an extension, you still have to fund these retirement accounts by April 15th. If you don’t, you won’t be able to claim […]

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How Income Tax Payment Plans Work

by Neal Frankle, CFP ®, The article represents the author's opinion. This post may contain affiliate links. Please read our disclosure for more info.

In a few short days, April 15th will be here and the IRS will expect you to fork over what you owe them. If you don’t have the money to make the tax goons happy, don’t’ worry about it. File your return and set up a payment plan. It’s easy to do and can save […]

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Avoid These Tax Penalties For Late Filing

by Neal Frankle, CFP ®, The article represents the author's opinion. This post may contain affiliate links. Please read our disclosure for more info.

Nobody likes paying taxes. But try not paying or paying late and see how you like it. The penalties and interest you get hit with make Don Corleone look like Snow White. First let’s look at what happens if you file but don’t pay. In this case, you’ll start racking up .5% per month penalty […]

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How to Minimize the Cost of Filing Your Tax Return Late

by Neal Frankle, CFP ®, The article represents the author's opinion. This post may contain affiliate links. Please read our disclosure for more info.

Sometimes, through no fault of your own, you are forced to file your 1040 late.  That often happens because other financial institutions fail to distribute their tax reports to you in time. If that is the situation you face now, don’t sweat it.  You can minimize the cost of filing your tax return late but […]

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Who is Neal Frankle

Neal Frankle

I'm a Certified Financial Planner™ with more than 25 years of experience. I feel very blessed and hope to share my personal financial experience and professional wisdom with readers of WealthPilgrim.
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Wealth Pilgrim is not responsible for and does not endorse any advertising, products or resource available from advertisements on this website. Wealth Pilgrim receives compensation from Google for advertising space on this website, but does not control the advertising selection or content. Please do the appropriate research before participating in any third party offers. The information contained in WealthPilgrim.com is for general information or entertainment purposes only and does not constitute professional financial advice. Please contact an independent financial professional for advice regarding your specific situation. Wealth Pilgrim does not provide investment advisory services and is not a registered investment adviser. Neal may provide advisory services through Wealth Resources Group, a registered investment adviser. Wealth Pilgrim and Wealth Resources Group are affiliated companies. In accordance with FTC guidelines, we state that we have a financial relationship with some of the companies mentioned in this website. This may include receiving payments,access to free products and services for product and service reviews and giveaways. Any references to third party products, rates, or websites are subject to change without notice. We do our best to maintain current information, but due to the rapidly changing environment, some information may have changed since it was published. Please do the appropriate research before participating in any third party offers.


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