The mere mention of April 15 can trigger waves of panic in many people, but it doesn’t have to be that way. When you work with savvy financial planners, tax time can actually be a positive, not negative, season for you! At Costello Financial Planning, we work diligently with our clients to help them with their taxes. There are strategies we can employ to improve your financial picture and minimize the tax impact on your finances. We can also look at your overall portfolio and help you manage your financial goals more effectively. For help with your taxes, retirement planning, and any other finance-related area, turn to the advisors at Costello Financial Planning.

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

    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 n…Read More

  2. CFP News – Paul Costello, CPA

    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…Read More

  3. Happy Halloween

    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!…Read More

  4. Understanding Your Retirement Plan Options

    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, however,…Read More

  5. Accelerate Your Tax-Deferred Savings

    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. The…Read More

  6. What I Am Reading

    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 Ge…Read More