If there’s anyone whose attention you never want to get, it’s the IRS. And if you’ve ever asked yourself when preparing or filing taxes, “why might I get audited by the IRS?,” we have a few simple answers for you.  This may be news to you: the Internal Revenue Service has a precise computer process for determining which businesses and individuals it will audit, called the Discriminant Function System (DIF). Although the details are unknown, we are aware that the […]

Now that New Year’s Resolutions are in full swing, you might be thinking of the next season. While we know Spring is on the horizon – even though Chicago may not seem like it, at SGL Financial, we mean Tax Season.  Here are some tax-smart investor strategies to consider not just during Tax Season, but all year round..  Diversify Your Tax-Advantaged Investing Accounts Consider participating in a tax-sheltered investing account to maximize tax savings. Before choosing an account, it is […]

As a small business owner, one of the proudest moments in your life is when your dream turns a profit. But without a comprehensive wealth management plan in place, it’s tricky to turn your dream into a reality. This is especially true for small business owners who tie their personal wealth to the profits (and losses) of their business. Fortunately, proper wealth management can help you prepare for success. Start with a Budget As in your personal life, your business […]

Retiring early is a common dream – one that may seem impossible to reach in the modern economic climate. But if you start early, plan ahead, and engage in comprehensive wealth management, you may be able to retire years earlier.  Here are seven retirement planning tips to keep you from feeling shortchanged in your pre-golden years. 1.  Know What You Want in Retirement The first step to retiring early is knowing what you want to do in your early retirement. […]

Would you like to have more money? Of course, you would! So where do you start? Well, you could ask your neighbor, your boss, your grandma for some money-saving, wealth-growing ideas but they’re likely to be along these lines: Establish a budget and stick to it, max out your 401(k) contributions, steer clear of high-interest debt like credit cards. And then there is the wealth-building tip you’d get if you asked your financial advisor: Work with a comprehensive wealth manager. […]

If we asked a hundred people on the street to tell us about wealth management and investment management, and the difference between the two, you can bet that well over half of them would respond, “Aren’t they basically the same thing?” But as financial professionals, we know that they are not. And if you have a job, a family or money, or if you plan to retire someday – so basically, everyone – you should also know the difference, as […]

October isn’t just about who the Chicago Bears are playing Sunday or the season of spook and pumpkin spice – it’s also National Financial Planning Month! Whether you want to eliminate debt, budget more wisely, or invest in your future, building a financial plan is a great place to start. And with the power of comprehensive wealth management on your side, positioning yourself for lifelong success is simple. What is Financial Planning? When you think of financial planning, budgeting or […]

Comprehensive Wealth Management is considered the king of financial advising services and is built of key components aimed to build wealth for your life. At first glance into the world of wealth management, it is easy to assume that the focus is only investments – trading stocks and bonds. But these are not the only key components made up of effective wealth management. Other components include an advisor who will aid you in creating a solid financial plan encompassing tax […]

In this limited space, it would not be possible to convey all you need to know about retirement planning. But I can show you a new way to look at retirement saving, income and return on investments. To get us going, here’s a money-math question. If your portfolio lost 25% in a down market, what percentage must it gain to recoup that loss? The obvious answer is 25% but is that correct? Nope! As you can see in the below […]