SYM Financial Advisors, an independent, commission-free fiduciary with 55+ years of serving clients: The SYM Financial Advisors logo.
SYM Financial Advisors, an independent, commission-free fiduciary with 55+ years of serving clients: The SYM Financial Advisors logo.

tax planning

SYM Financial Advisors, an independent, commission-free fiduciary with 55+ years of serving clients: The IRS logo printed on a card against a U.S. flag background with “2024 Limits” overlaid, presented by SYM Financial Advisors, a commission-free fiduciary.

2024 IRS limits announced

November 3, 2023

The IRS recently announced 2024 limits affecting retirement plans and other qualified savings vehicles. The amounts have increased in almost all categories.  You will see the changes in bold in this quick reference.  For advice on tax planning, contact a SYM advisor. 401(k) Related Limits 2024 2023 401(k) Elective Deferrals $23,000 $22,500 401(k) Catch-up Contribution $7,500 $7,500 415 Annual Additions Limit $69,000 $66,000 Annual Compensation Limit $345,000 $330,000 Social Security Wage Base $168,600 $160,200  

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SYM Financial Advisors, an independent, commission-free fiduciary with 55+ years of serving clients: A blue alarm clock sits next to a TAX TIME sign in this visual for SYM Financial Advisors.

Your Tax Review Checklist for 2022 filing

February 28, 2023

As the April 18th tax deadline is approaching, take some time to consider how the following items may apply to your tax situation before submitting your 2022 return. A quick tax review could save you money. Tax Review Checklist Consider the impact of the following before filing your taxes. Realized Gains & Losses Form 1099-B reports your gains and losses for the year. This comes from your account custodian (Schwab, Fidelity, National Advisors Trust, TD

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SYM Financial Advisors, an independent, commission-free fiduciary with 55+ years of serving clients: A magnifying glass held over the number 31 on a SYM Financial Advisors desk calendar.

2022 Year End Deadlines

November 16, 2022

The year is drawing to a close in a flash and this is the time to address important year end deadlines. Following are key things you should be in communication with your advisor about now. Custodians are busier than normal years and we expect delays that haven’t been experienced in the past.  If you haven’t squared away with your SYM team already, we advise making it a priority. 529s Planning to make a contribution to

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A man in a suit sitting and reading a newspaper, reflecting the thoughtful approach of a SYM Financial Advisor, an independent, commission-free fiduciary with 55+ years of serving clients.

Taxation of Stock Options and Other Mistakes to Avoid

April 19, 2022

Stock options are often used as an incentive for key employees and executives. For example, Apple CEO Tim Cook received a $3 million salary in 2021, which may seem relatively small given the enormous value of the company. But the full scope of his compensation package becomes clearer when you also consider he was awarded $82.3 million in stock options [1]. Stock options aren’t just for household names. Companies of many sizes use incentive stock

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Infographic titled “Tax Time Checkup” for SYM Financial Advisors, an independent, commission-free fiduciary with 55+ years of serving clients, showing that 62% of Americans expect a tax refund, with a breakdown of planned uses including savings, debt, daily expenses, home improvements, major purchases, and vacations.

Next Year’s Income Tax Planning Starts Now

February 1, 2022

Whether you are the type to submit your tax filing early or you wait until the April 15th deadline, there are ways to make the annual necessity easier on yourself. Income tax filing doesn’t have to be a frantic race. If you develop the right habits now, you can take small steps all year long, which will make the tax-filing project much simpler. That can lead to a quicker, smoother filing — and can potentially

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