Do Well While Doing Good

Flowcharts and Checklists to Simplify your Financial Life | Cove Financial Planning

Flowcharts & Checklists

Life Events

 

New Job

What issues should I consider when starting a new job?

 

Buying A Home

What issues should I consider when buying a home?

Starting a Business

What issues should I consider when starting a business?

 

Job Loss Related Issues

What issues should I consider if I lose my job?

Refinancing Mortgage

What issues should I consider when thinking about a mortgage refinance?

Having A Child

What issues should I consider when having/adopting a child?

 

Job Promotion/Raise

What issues should I consider if I get a promotion or raise at work?

Sudden Wealth Event

What issues should I consider if I experience a sudden wealth event?

Getting Married

What issues should I consider when getting married?

 

Divorce-related Issues

What issues should I consider during my divorce?

 

Investing

 

Market Downturn

What issues should I consider in a recession or market correction?

 

529 Plan Distribution Rules

Is the distribution from my 529 plan taxable?

Where to Save

What accounts should I consider saving into?

 

Important Numbers

Quick reference and annual limits.

401(k) Rollover Considerations

Should I rollover my old 401(k) into an IRA?

 

Traditional IRA Contribution Rules

Can I make a deductible contribution into my Traditional IRA?

Roth vs. Traditional IRA Contribution

Should I contribute into my Roth IRA or my Traditional IRA?

 

Roth iRA Contribution Rules

Can I contribute to my Roth IRA?

 

Retirement

 

Social Security

Will my Social Security benefit be reduced?

 

RMD Rules for INherited IRAs

Can I delay the Required Minimum Distributions (RMDs) on my Inherited Traditional IRA?

Traditional IRA Distribution rules

Will a distribution from my Traditional IRA be penalty-free?

 

RMD Rules when turning 70.5

Can I avoid taking my RMD after reaching my required beginning date?

Roth IRA Distribution Rules

Will a distribution from my Roth IRA be tax- and penalty-free?

 

Social Security Spousal Benefit eligibility

Am I eligible for Social Security benefits as a spouse?

Retirement Issues

What issues should I consider before I retire?

 

Social Security & Divorce

Am I eligible for Social Security if I’m divorced?

 

Taxes

 

IRA Conversion Rules

Will my Roth IRA conversion be penalty-free?

 

ESPP Taxation Rules

Will I have to pay tax on my qualified Employee Stock Purchase Plan (ESPP)?

Basis on Inherited Property

Will I receive a step-up in basis on my inherited property?

 

Tax Return Analysis (Employed)

As someone who is working, what issues should I consider when reviewing my tax return?

Basis on Gifted Property

Will I receive a step-up in basis on my gifted property?

 

Tax Return Analysis (Retiree)

As a retiree, what issues should I consider when reviewing my tax return?

Tax Impact on the sale of an investment

Will I have to pay tax on the sale of my investment?

 

QBI Deduction Rules

Am I eligible for a qualified business income deduction?

 

Estate Planning

 

Important Documents

What documents do I need to keep in file?

Closing an Estate

What issues should I consider before closing the estate?

Estate Plan Update

What issues should I consider before I updated my estate plan?

Aging Parents Related Issues

What issues should I consider for my aging parents?

 

Insurance & Healthcare

 

HSA Contribution Rules

Can I make a deductible contribution to my Health Savings Account (HSA)?

HSA Distribution Rules

Will the distribution from my HSA be tax- and penalty-free?

Health & Life Insurance

What issues should I consider when reviewing my health and life insurance policies?

Health insurance options with an early retirement

If I retire early, should I buy health insurance through the Health Insurance Marketplace?