Taylor’d Finance Blog
Welcome to my blog! I’m Taylor Ledbetter, a Paraplanner and Wealth Advisor at Jessup Wealth Management. I joined the team in July 2020 as a financial planning intern. By 2021, I graduated from Wright State University with double Bachelor’s Degrees in Financial Services and Accounting and an Associate’s Degree in Business Administration from Sinclair Community College.
This blog aims to dissect relevant financial planning topics and educate readers. I put a lot of thought into providing insights and strategies to help you enhance your financial lives. Whether you’re looking to optimize your investments, plan for retirement, or manage your budgets, I’m here to guide you toward achieving your financial goals.
If you have long-term investments, you may have large, embedded gains that can cause a pretty high tax bill. However, even though you cannot escape paying taxes on these gains, your heirs may avoid tax liability when they inherit certain assets. This gives your heirs a huge tax advantage because their cost basis is essentially reset.
When you purchase a term life insurance policy, coverage is adequate for a fixed period. This fixed period can vary depending on your insurance needs. If you die during the policy term, the insurer will pay your beneficiaries the policy’s face value.
Tax-loss harvesting is a strategy that can help preserve portfolio value while also reducing the cost of capital gains taxes. If you have capital losses for the year that exceed capital gains, you can deduct up to $3,000 in net losses from your total annual income.
The Kiddie Tax is a tax that a minor has to pay on unearned income, including investment income or other types of income. The Kiddie Tax was created in 1986 to prevent parents from transferring income-producing assets into a child’s name to take advantage of the child’s lower tax rate.