Darcy Bergen is an established Peoria, Arizona financial executive who leads the Bergen Financial Group. A Certified Retirement Financial Advisor, Darcy Bergen has extensive experience counseling clients on how to make the tax code work to best advantage.
One aspect of this centers on taking advantage of tax credits, which include the Child Tax Credit, which provides a maximum credit of $2,000 for each offspring who qualifies. In addition, those who pay for care for children or dependents under the age of 13 can claim $3,000 for a single qualifying individual. Under the Child and Dependent Care Credit, this is doubled to $6,000 for two or more children. The American Opportunity Credit offers a $2,500 tax credit related to tuition costs for eligible students attending a four-year higher education program.
Because credits involve a dollar for dollar subtraction from the net tax liability, they have a potentially larger impact than deductions, which are subtracted from the amount of income prior to calculating taxes.
A resident of Peoria, Arizona, Darcy Bergen directs a team of dedicated financial advisors at the Bergen Financial Group. Among the areas in which Darcy Bergen advises clients is when it makes sense to seek professional financial advice.
As a general rule, major life events such as the birth of a child are moments when it pays to sit down with a professional and devise a long term financial plan. In this case, one aim of the plan should be to ensure that appropriate tax-advantaged funds are in place which will ultimately pay for the child's college. In addition, a portion of income should be set aside for health and life insurance that ensures that the family will be well protected should adverse situations arise.
Another time to reassess one’s financial approach is when a major monetary windfall arrives, whether it be the successful sale of a business or a substantial inheritance. Unfortunately, such situations involving large unexpected gains often lead to unnecessary purchases and a squandering of capital.
This can be avoided by taking time to set up prudent asset allocations from the get go, with the assistance of an experienced advisor. Remember that any amount of money received will often end up being significantly smaller, given tax liabilities. An experienced advisor can help you minimize these outlays and hold on to the maximum percentage of assets.
Experienced financial advisor Darcy Bergen leverages his two decades of experience to manage retirement planning and wealth succession planning for high-net-worth clients. Darcy Bergen is a member of several notable professional organizations, including the Million Dollar Round Table (MDRT).
Throughout the year, MDRT hosts several conferences and events for professionals in the financial services industry. Engage Develop Grow Empower (EDGE) is a conference that provides attendees with the opportunity to learn from one another while networking and developing business relationships.
The EDGE conference also offers a hands-on learning experience in key content areas, such as strategic planning and wealth management. Participants are provided with an individualized schedule based on their learning goals and professional interests.
Attendees engage in group discussions, learn from field experts, and support the long-term development of their peers by participating in accountability groups. The 2018 MDRT EDGE will take place November 7-9 in Boston.
For more than two decades, certified retirement financial advisor and veteran financial planner Darcy Bergen has specialized in providing clients with conservative financial and retirement planning products. Darcy Bergen, president of Bergen Financial Group, also delivers professional advice on his weekly radio program, Smart Money.
More than 50 percent of Americans continue to work part-time after they qualify for early Social Security and Medicare benefits. Depending on the amount of money retirees earn, part-time work may lower Social Security payments.
As of 2018, the income cap for early retirees is just over $17,000 per year. Any income above that amount is deducted from Social Security payments at a ratio of $1 for every $2 earned.
Older workers collecting Social Security must be meticulous about reporting their income to the Social Security Administration. Any overpayment of Social Security funds must be paid back.