The Wealth of Motherhood: Smart Financial Moves for Stay-at-Home Moms
Mother’s Day is a celebration of love, sacrifice, and the invaluable role mothers play in our families. For stay-at-home moms (SAHMs), this role is especially unique—and often underappreciated—in the financial planning conversation. At Favored Financial Planning, we believe every mom deserves recognition and a secure financial future. This Mother’s Day, we want to celebrate stay-at-home […]
The Impact of a SMLLC on taxes
Starting a business is exciting, but taxes can be confusing. If you have a Single-Member LLC (SMLLC), here’s how it impacts your taxes. What Is a Single-Member LLC? A Single-Member LLC is a Limited Liability Company with one owner. It protects personal assets while keeping taxes simple. How Are Taxes Handled? The IRS treats an […]
The Financial Impact of Caregiving on Women’s Retirement
Two out of three family caregivers are female. Although current trends show that men are more likely to undertake caregiving duties, female caregivers report a higher burden. While these caregiving roles are invaluable, they come at a significant financial cost, particularly when it comes to saving for retirement. In 2022, the Pew Research Center found […]
Reflecting on the Journey: How Favored Financial Planning Came to Be
April is Financial Literacy Month – a time to reflect not just on the numbers, but on the stories behind them. For Cordi, founder of Favored Financial Planning, LLC, it’s a time to remember the path that led her here. Before entering the world of financial planning, Cordi found fulfillment in her work as a […]
Essential Financial Practices for Solopreneurs
Operating as a solopreneur brings both opportunities and responsibilities, especially when it comes to financial management. From structuring your business properly to tracking your income, sound financial practices are essential for sustainable success. Favored Financial Planning specializes in helping solopreneurs navigate these challenges with expert financial guidance. Here are key best practices to establish a […]
Why Solopreneurs with a Single Member LLC (SMLLC) Need a Strong Financial Foundation – And How Favored Financial Planning Can Help
Forming a Single Member LLC (SMLLC) is an exciting step for any solopreneur. It formalizes your business, protects your assets, and positions you as a professional in your field. But forming an SMLLC is just the beginning. To truly thrive, solopreneurs need a strong financial foundation to support their goals, mitigate risks, and ensure long-term […]
Major Life Changes in 2024? Let’s Discuss the Impact on Taxes: How Favored Financial Planning Can Help
Life is full of milestones, and while they bring joy and new beginnings, they can also significantly impact your financial and tax situation. Whether you’re welcoming a new baby, entering or ending a marriage, each change comes with potential tax implications. Here’s how these milestones affect your taxes and how we can help you through […]
Changes in the Tax Code Are Coming: How Favored Financial Planning Can Help You Navigate Tax-Advantaged Financial Strategies in 2025
As we approach 2025, significant changes in the tax landscape are on the horizon, particularly with the expiration of key provisions from the Tax Cuts and Jobs Act (TCJA) of 2017. If you’re concerned about how these changes might impact your financial future, you’re not alone. At Favored Financial Planning, we specialize in crafting tax-advantaged […]
Now Is the Time for Tax Planning: Don’t Be Surprised on Tax Day!
As the end of the year approaches, it’s easy to get caught up in the holiday hustle and bustle, leaving financial matters like tax planning on the back burner. But at Favored Financial Planning, we know that taking a proactive approach to your taxes can make a significant difference. Instead of waiting until April to […]
Maximize Your Benefits: The Importance of Open Enrollment and How Favored Financial Planning Can Help
Open Enrollment season is upon us, a critical time for employees to review and make necessary changes to their health insurance and other benefit plans. This annual period is when you can select or change your health insurance, retirement plans, and other benefits provided by your employer. However, many employees overlook this crucial window or […]
