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Keeping a portion of your investments allocated to cash can be very practical in the day to day management of an income-producing portfolio and will increase your portfolio’s survival rate long term.

After age 70.5, your IRA can be used to make a charitable contribution.*  [click here to learn more about Required Minimum Distributions]  &n

Many factors must be considered when designing a withdrawal strategy for clients nearing or in retirement.  The tax consequences of portfolio withdrawals are one of the most significant considerations.

A budget is a great way to create financial awareness, not just in the building of the budget, but in the tracking of actual expenditures against what you wanted to spend.  

When working with Dentists who are also practice owners, financial planning involves consulting onpersonal as well as practice finances. By understanding the connection a dentist has to the practice, and the impact the practice can have on the family, we’re able to plan in a way that works in the unique life of a dental practice owner.

Financial planning is very important; it helps people understand where they are, and creates a vision to work toward. Financial check-ups help assess investments, insurance, taxes, saving and spending, and identify action items and to-dos. Mission Financial Planning also provides monitoring and accountability, and helps clients stay on track.

Generally, a dental practice is not required to issue a 1099-MISC to a corporation.  However, remember to track and report fees and proceeds paid to attorneys, as well as payments made to physicians, dentists, medical suppliers, proprietary hospitals, laboratories, and medical centers in excess of $600. 

When you set up or edit a Vendor in QuickBooks, click the “Tax Settings” tab to identify them as a 1099 Vendor. Make it a point to keep track of 1099-eligible vendors throughout the year.

Christmas bills will be arriving soon, and people will be dipping into savings,  living in austerity mode, or living off “revolving” credit to pay down their Christmas bills over many months to come.

Christmas is a time for giving and sharing, but when all is said and done many people end up associating the holidays with resentment and guilt about overspending, rather than the joy and renewal the season promises.

To keep next Christmas’ spending in perspective, Mission Financial Planning recommends a Christmas debriefing while memories are still fresh.

Debrief by reminiscing about the holidays; what did your family look forward to, and what did they dread?   What are their best memories from over the years, along with favorite foods and must-have traditions?

We were quoted on the websiteCreditCardInsider.com today in an “Ask The Expert” article titled Money Management for Young Professionals.


Featuring helpful hints from financial planners and writers, university counselors and others, the article featuring Credit Card Insider  is aimed at those just entering the workforce and is a good introduction to some basic concepts of financial responsibility and planning.  Many of the tips would be good reminders for financially conscientious readers of any age.  Click on the article title above to see all the recommendations.  

Mission Financial Planning helps clients plan ahead, so their heirs avoid the overwhelming and frustrating circumstances of  inheriting an unorganized estate. 

Services include recommending features and strategies to be included in estate plan documents as well as compiling necessary papers and contact information for various accounts and the professionals that you work with.