Taxes

How To Lower Your Tax Bill

By Rob Costello, CFP® / July 23, 2021

Webinar: How To Lower Your Tax Bill – 2021 March Slides

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State by State Comprehensive Taxes: Who Really Pays the Most?

By madwire / October 25, 2019

When it comes to paying taxes of any kind, there are two concepts that invariably hold true. First, nobody likes paying them. Second, most people think they pay more than their fair share. In the Midwest, and in Illinois in particular, many people are talking about why our taxes are so high. It is no…

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CFP News – Paul Costello, CPA

By madwire / February 16, 2019

Costello Financial Planning is excited to share the news that Paul has officially become a licensed CPA.  Paul decided to pursue this designation in order to become more of an expert in the accounting fields, especially tax preparation, tax planning, and business law.  Costello Financial Planning is especially happy to supplement Rob’s Certified Financial Planner designation…

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Happy Halloween

By madwire / November 1, 2018

The Dad Tax or Mom Tax noun The act of protecting your children by inspecting their candy and taking a third for your troubles. Have a safe and Happy Halloween!

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Understanding Your Retirement Plan Options

By madwire / June 15, 2016

Question: What should I do with my 401(k) account when I leave a job or when I am preparing to retire? Answer: To give you a better understanding of your 401(k) options, I will review four strategies. 1. Do Nothing You can simply leave your retirement account as it is. You need to be aware,…

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Accelerate Your Tax-Deferred Savings

By madwire / February 15, 2016

If you have already maxed out your retirement plan savings and want to contribute more than $50,000 tax-deferred, you are in luck. Recent IRS rulings have made a lesser-known retirement plan more appealing to business owners and such highly-paid professionals as attorneys, doctors, and dentists. These pension plans are called Cash Balance Plans. Bank of…

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How to Teach Your Kids About Taxes on Halloween

By madwire / October 30, 2015

The Dad Tax or Mom Tax noun The act of protecting your children by inspecting their candy and taking a third for your troubles. Have a safe and Happy Halloween!

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What I Am Reading

By madwire / October 14, 2015

Keeping Things Simple and Tuning out Folly (Farnam Street) To Get a Job in Your 50s, Maintain Friendships in Your 40s (New York Times) Beneath Chicago’s Gloss (City Journal) The Middle-Class Squeeze (Wall Street Journal) Pete Sampras Letter to My Younger Self (The Players Tribune) Poor People Are Getting Terrible Investment Advice (Quartz) Tax Planning…

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