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As we approach the end of 2016, you'll likely hear many people talking about year-end tax planning. While implementing tax planning strategies at year-end is certainly advantageous, tax planning can be even more beneficial as a year-round activity. 

As a financial planner, I often advise my clients to regularly review their financial planning activities alongside the current tax strategies available to them, to minimize potential income taxes while staying on course to meet their financial goals.

Retirement is something we all think about, but when it comes to the specifics - how much retirement income we'll need, and where that income will come from - many people feel uncertain and underprepared. 

The best way to prepare for retirement is to take a proactive approach, and start planning as early as possible. In a webinar that I hosted last week, I discussed critical retirement planning steps, and why it's so important to start now. For those of you who missed it, I've outlined the top 4 steps you should be taking to prepare for your retirement.

In recent years, I've seen a renewed interest in "combo" retirement plans. Although not a new retirement plan design, the “combo plan” has become a popular way for higher-income business owners to significantly boost their retirement savings, while reducing taxes along the way.