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Clarity (noun) 'kler ə tē – the quality or state of being clear

Providing you with clarity in a complex world

A relationship based on integrity and trust

Our Mission helping you gain a clear perspective

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Do You Need A Million Dollars to Retire?

Submitted by Total Clarity Wealth Management, Inc. on November 22nd, 2022

One of the age-old questions for retirement is how much you truly need to retire. An extremely common nest egg goal is $1 million. But is $1 million too much or not enough? The answer is - it depends on multiple factors. Continue reading to learn more about if you need a million dollars to retire based on several factors.

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Roth IRA vs. Traditional IRA: Which is Better?

Submitted by Total Clarity Wealth Management, Inc. on October 28th, 2022

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Every Dollar Counts... Which Sneaky Business Expenses Can You Reduce?

Submitted by Total Clarity Wealth Management, Inc. on September 20th, 2022

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How To Reduce Taxes When You Sell Your Business

Submitted by Total Clarity Wealth Management, Inc. on July 20th, 2022

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Financial Moves to Make After Selling Your Business

Submitted by Total Clarity Wealth Management, Inc. on June 29th, 2022


 

Selling your business can provide a sense of relief. After putting in your blood, sweat, and tears, you can now reap in the benefits. However, in navigating life after selling your business, you also need to consider how selling your business has affected your finances and what to do with the profits you received. Continue reading to learn about financial moves to make after selling your business.
 

Maximize Your Profits

Most business owners generate a large amount of profits from the sale of their business. With this influx of cash, it’s important to know how to truly maximize these profits. One strategy to consider is converting a significant portion of the profits in pre-tax accounts to Roth IRAs. By utilizing the Roth IRA conversion method, you can put enough money into your Roth IRAs to stay below higher tax brackets. This is also a great way to catch up on retirement savings if you are not on track. Keep in mind the amount that you convert is taxable in the year of the conversion.
 

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How to Make The Most of Your HSA

Submitted by Total Clarity Wealth Management, Inc. on April 12th, 2022

No matter how healthy you are and how great your health insurance is, you will always have out of pocket medical costs. One of the best ways to combat out of pocket health expenses is a Health Savings Account. Whether you’re considering opening an HSA account or you’ve had one for years, it’s important to know how to maximize the benefits of an HSA. Keep reading to learn how to make the most out of your HSA.
 

  1. Maximize Your Contributions

HSA’s have triple tax benefits: your contributions, earnings, and withdrawals are all tax free. These types of accounts are categorized as savings accounts but also act as investment accounts by allowing your balance to roll over each year. By beginning to contribute to an HSA early on in your life, you give your HSA the potential to compound interest and grow your HSA savings over time.

The HSA contribution limits for 2022 are $3,650 for individuals and $7,300 for family coverage. If you’re 55 years old or older, you are allowed $1,000 extra as a catch-up contribution.

If you have an employer sponsored 401(k) and a HSA account through your health insurance, a good way to maximize savings is contributing enough into your 401(k) to maximize your company’s match policy, then putting the rest into your HSA.
 

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The 2022 Tax Season and What You Need to Know

Submitted by Total Clarity Wealth Management, Inc. on February 8th, 2022


With tax season quickly approaching, it’s important to know about the deadlines, new economic relief measures, deductions, and tax brackets. Continue reading for what you need to know about the 2022 tax season.

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5 Things to Teach Your Kids About Finances

Submitted by Total Clarity Wealth Management, Inc. on February 3rd, 2022

If you’ve spent more than five minutes on a kid’s television network, you’ve seen just how inundated young kids are with commercials for everything from the latest gadget, to some dreadful snack that features something gooey and/or messy. It’s also safe to bet that many of these kids run to their parents, wanting to buy some or all of these items.

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Is Retiring Early The Right Move For Me?

Submitted by Total Clarity Wealth Management, Inc. on January 11th, 2022

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Financial Updates in 2022: What's Ahead?

Submitted by Total Clarity Wealth Management, Inc. on December 21st, 2021

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All information on this website is for informational purposes only. No information constitutes an offer to sell or buy a security or is a form of investment advice. 

Advisors associated with Total Clarity Wealth Management, Inc. may be either (1) registered representatives with and securities offered through LPL Financial, Member FINRA/SIPC, and investment advisor representatives of Total Clarity Wealth Management, Inc.; or (2) solely investment advisor representatives of Total Clarity Wealth Management, Inc and not affiliated with LPL Financial. Investment advice is offered through Total Clarity Wealth Management, Inc, a registered investment advisor and separate entity from LPL Financial.

     

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