Financial Planning And Investment Advice Just For Iowans
Welcome to Hylland Capital!
One thing I love about being an independent, fee-only, fiduciary financial advisor is spending time focusing on the “other” elements of a client’s financial plan. Yes, your retirement investments are important, deciding when to take social security is a pivotal decision, and knowing when to do Roth conversions can have a huge impact on your net worth.
But, there are many other big decisions around money that you make, especially if you are a homeowner.
One that was coming up more and more was:
“Is it a good investment to put solar panels on my house?”
This week, Iowa’s Governor signed sweeping changes to the state’s tax code into law. In general, Iowa’s new tax law aims to lower personal income tax rates, while aligning the state tax law with the new federal tax law. Here are a two of the most important changes that will affect most Iowans:
Use our tax equivalent yield calculator to help determine if corporate bonds, treasury bonds, or municipal bonds are best for you.
Iowa municipal bonds can save Iowans a lot of money. But, many investors are not investing in the right municipal bonds or funds to maximize their potential tax savings.
For residents in high tax states like Iowa, investing in any one of today’s large municipal bond ETFs or mutual funds is not giving you all the tax breaks you are eligible for.
Here’s how (and why) we invest our client dollars in Iowa municipal bonds in order to maximize their tax savings.
Although often overshadowed by the higher federal tax rates, state income taxes can take a large bite out of earnings. Thankfully, there are a few options to reduce your state tax bill. For those in highly taxed states, simple changes like saving using treasury bills instead of bank CDs for your cash savings could knock off hundreds of dollars per year in your state tax bill. What else can you do? Here is a quick list: