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Geoff Williams

Personal Finance Expert

Posts by Geoff Williams:

by Geoff Williams Mar 31, 2023

If you have formed a limited liability company that is being taxed as an S corporation, also called an S Corp, you will at some point need to become acquainted with form 1120-S. The IRS Form 1120-S is a tax document that you will use to furnish financial information to the Internal Revenue Service. You’ll need the 1120-S form to report your company’s yearly financial activity, including your business’s gains, losses, credits and dividends. In other words, your S corporation’s annual corporate tax return is Form 1120-S. That said, you will still need to file your own personal federal income tax return. If you need help with this or other financial matters, consider working with a financial advisor who focuses on tax planning. Read more

by Geoff Williams Feb 08, 2023

If your marriage is coming to an end there are many important decisions that lie ahead. One of the biggest is deciding between a marriage dissolution or a divorce. Both dissolution and divorce are legal processes, and the outcome is exactly the same: you are ending a marriage. Attorneys often say the difference between a divorce and dissolution hinges on whether a spouse faults the other for the breakup. Still, it’s a little more complicated than that. Below, we’ll break down why some couples choose marriage dissolution vs. divorce. A financial advisor can help make a plan for your money when the time comes to move on from a marriage. Read more

by Geoff Williams Feb 03, 2023

Financial stress is unpleasant to endure, and it can be a detriment to your quality of life. In fact, the longer you suffer financial anxiety, eventually, it can wear down your health and even cause you to make worse financial decisions, which in turn, will only create even poor financial wellness, which will then make you tenser. But worrying about your money doesn’t have to be a burden that you carry indefinitely. Here are six practical ways to mitigate your financial stress. A financial advisor could help you create a financial plan to get on a stress-free path to managing your money. Read more

by Geoff Williams Feb 03, 2023

Most people look at life insurance as a tool for protecting their families. That is, indeed, an important component of life insurance. If you should die, your policy may help your beneficiaries pay… Read more

by Geoff Williams Jan 31, 2023

If you plan to create a living trust or already have one, you may wonder if you need a living trust lawyer. The short answer is that you don’t. But just because you don’t technically need an attorney… Read more

by Geoff Williams Jan 25, 2023

If you’re approaching retirement age, you have a lot to think about. Focusing on limiting your tax liability can be especially valuable. After all, the more taxes you pay in retirement, the less… Read more

by Geoff Williams Jan 25, 2023

When you’re in the midst of a divorce, you’re probably not thinking about estate planning or your will. But if you’re divorcing, you should think about the impact a divorce can have on an estate plan… Read more

by Geoff Williams Jan 20, 2023

If you have a residence you would like to pass onto loved ones after your death, and you’re worried about your home going into probate, you may want to put your home in a property trust. If that is… Read more

by Geoff Williams May 29, 2023

If you have been hired for a new job, you may have left your 401(k) behind and would like to bring it to your new place of employment. You can certainly do that, and the process isn’t difficult. But… Read more

by Geoff Williams Jan 18, 2023

If you’re thinking of retiring early, you may be wondering how much you need to retire at age 55. The exact amount of income you should have put away is going to depend on different factors. But if… Read more

by Geoff Williams Mar 18, 2023

If you have $500 that isn’t earmarked for bills, that’s enough to get started in investing. It may or may not feel like a fortune to you. But with the right investments, it can certainly be used to… Read more

by Geoff Williams Jan 12, 2023

If you leave a trust to a loved one, it’s probably because you want to ensure that they are taken care of after you are gone. But that very act may cause you to wonder how long can a trust remain… Read more

by Geoff Williams Jan 10, 2023

If you want to be rich, many financial experts will suggest you invest. You can become rich in other ways than investing, of course, such as inventing something useful or starting a business. But the… Read more

by Geoff Williams Jan 06, 2023

If you have $200,000 to invest, there are many ways to make your money grow. Let’s take a look at how you can invest in the stock market, real estate and other common investments, while keeping a few… Read more

by Geoff Williams Apr 17, 2023

Unless you’re extremely rich or poor, you probably think of yourself as being part of the “middle class.” As you’re probably aware, “middle class” is an income level that describes people whose… Read more

by Geoff Williams Jan 04, 2023

There are a lot of reasons an investor might be interested in putting their money into agriculture. For one, it may seem like a safe bet since during a recession, people may cut back on haircuts or… Read more

by Geoff Williams Jan 04, 2023

If you’re looking to put away more money for retirement, you may have a goal in mind that you’re trying to reach, such as saving $1 million. You may want to earn and save more than that, of course,… Read more

by Geoff Williams Jan 03, 2023

It is not uncommon to lose track of an old 401(k) account after you change jobs. It’s easy for people to assume their 401(k) contributions continue when they get a new job. Financial services company… Read more

by Geoff Williams Dec 20, 2022

Can you use retirement funds to buy a second home? Technically, yes. Retirement funds are funded with your money. But perhaps a better question might be: Can you withdraw money from your retirement… Read more

by Geoff Williams Mar 20, 2023

If you’ve spent a sizable amount of money improving your residence, you may understandably be looking for ways to offset those costs and find yourself wondering if your home improvements are tax… Read more

by Geoff Williams Dec 20, 2022

Cash in lieu of fractional shares is a type of payment where investors get cash instead of a fractional share or a partial share of a stock. Let’s break down what that could mean for your investments… Read more

by Geoff Williams Dec 16, 2022

It can pay to be a responsible rental property owner. For instance, if you’re always investing in your rental property and making improvements, not only will your tenants appreciate it and remain… Read more

by Geoff Williams Dec 14, 2022

Margin rates are a financial concept the average investor might not be informed about — and this lack of knowledge could be costly. As a general rule, new investors should stay away from investments… Read more

by Geoff Williams Dec 13, 2022

A long-term care rider allows life insurance policy holders to get part of their death benefit while they are still alive. This money would otherwise get paid to a beneficiary upon the policy holder… Read more

by Geoff Williams Dec 07, 2022

The link between IRA contributions and your adjusted gross income (AGI) can get complicated because not all contributions to IRAs lower your AGI. Generally, this is one of those situations where you… Read more