Taxes

As the year is off and running, many individuals and businesses turn their attention towards preparing for the upcoming tax season. Diligent tax preparation can help minimize liabilities, maximize returns, and avoid potential complications or penalties. Here are some key tips to prepare for the tax season ahead. Tip #1 - Start early First and foremost, start early, as procrastination can lead to errors or missed deductions. Initiate tax planning in advance of the filing deadl

We've deconstructed the "Big" in the One Big Beautiful Bill Act, analyzing its provisions and impacts on individuals and organizations. In this final installment, we shift our focus from what is to what's next, offering The Porter Group’s perspective on the legislation's political and economic future. The Three Axes of Future Policy The OBBBA, while massive, is not the final word. Its structure creates three predictable areas of future political and economic tension: Fiscal S

In Part 2, we looked at how the One Big Beautiful Bill Act (OBBBA) affects individuals. For organizations, from Fortune 500 corporations to local nonprofits, the Act is a game changer that requires a complete reassessment of capital strategy, employee benefits, and community engagement. The Corporate and For-Profit Landscape: Certainty and Incentives The OBBBA is widely considered pro-business, offering key tax breaks and stability for long-term planning: Permanent Business E

Welcome to the first part of our four-part series, "Decoding the OBBBA." Over the next two weeks, we'll break down the most significant piece of economic and social policy to pass in years: the One Big Beautiful Bill Act (OBBBA), also known as the Big Beautiful Bill (P.L. 119-21). Signed into law on July 4, 2025, the OBBBA is not just another bill; it's a monumental legislative act that will reshape the American landscape, impacting everything from your paycheck to your acces

The end of the year is a perfect time to give back to others and your community. Whether you're an individual or a business owner, charitable donations benefit the recipient and provide tax advantages to the donor. Tax deductions often have incentives for individuals and corporations to give more vigorously to philanthropy, which is essential. Here are some reasons why end-of-year giving may be a comprehensive strategy. To help manage the current year's tax liability. Year-en

The recent tax legislation, known as the ‘Big Beautiful Bill,’ introduces a number of changes that may affect various aspects of personal finance. This reform impacts various aspects of personal finance, from income tax rates and brackets to modifications in deductions and exemptions. Here's what investors need to know about the "Big Beautiful Bill," which is now law. Changes in tax brackets -   One of the most significant changes under the "Big Beautiful Bill" is the restruc

As summer winds down and autumn approaches, it's the perfect time to reassess your financial situation and prepare for Q4 tax planning....

TAX   |  by Joe Elsasser, CFP®, Founder and President of Covisum The One Big Beautiful Bill Act of 2025 (OBBBA 2025) has passed. It...

As the hot weather kicks in this summer, now is an opportune time to explore proactive tax strategies that can help manage your 2025 tax...

There's often a misconception that life insurance only serves to provide for loved ones in the event of death. While a life insurance policy certainly does that, it also has the potential to integrate as part of an overall strategy. Life insurance can help manage risk and protect against the potential financial fallout from unexpected events. Here are five ways that life insurance may fit into a financial strategy.

Financial literacy, the ability to comprehend financial concepts, manage one's finances, budget, and invest, is crucial for lifelong financial health. The significance of financial literacy transcends age brackets—it is a lifelong pursuit that begins in one's 20s and continues well into one's 70s and beyond. You can work toward an independent financial future by developing and adapting financial strategies and skills in every decade of life.

Tax planning and saving are integral to any comprehensive financial strategy. It is paramount to manage tax efficiency without jeopardizing one's financial goals. Numerous financial literacy techniques can be leveraged to help manage taxes, align with objectives, and maximize savings. Here are five strategies to help you get started saving

“Don’t put all your eggs in one basket,”

Implementing several strategies can help women work toward financial independence and wealth creation, bridging the wealth gap

There is often debate on the role that luck plays in accumulating wealth. Some argue that wealth accumulation is a matter of hard work,...

Annuities, which can be purchased from an insurance company, maybe a suitable strategy for investors who want to secure a steady income...

Planning for retirement often raises one crucial question: How much should one withdraw each year during retirement? Managing withdrawals...

People often misunderstand Social Security retirement benefits and taxation since not all benefits are taxable. The amount of benefits...