Financial Advantage w/ Douglas Marion – 3 Financial Tips of the Week – February 7, 2026

Douglas Marion’s The Financial Advantage serves as an educational resource within Advanced Wealth Strategies™, offering practical financial tips and strategies to help individuals and families achieve a tax-advantaged retirement. With a focus on simplifying complex financial concepts, Douglas provides insights on budgeting, investing, and wealth preservation, making them accessible and actionable for readers. His guidance empowers individuals to navigate economic challenges, plan effectively for retirement, and build a secure financial future. By leveraging proven strategies and emphasizing tax efficiency, The Financial Advantage equips readers with the tools to make informed decisions and reach their long-term financial goals.

Financial Tips of the Week

Thought Tip #1

February often features end-of-season clearance sales on winter clothing and Presidents’ Day sales on big-ticket items like appliances, furniture, and
mattresses.

Thought Tip # 2

Estate Planning You may also want to combine your estate planning
efforts with strategies for minimizing tax liability. Effective estate planning can reduce taxes on the
transfer of wealth. Gifting Strategies: Annual gifts up to the exclusion limit
can reduce the size of your taxable estate. Trusts: Trusts can be used to manage estate taxes and provide for heirs in a tax-efficient manner. Irrevocable trusts, in particular, can remove assets from your taxable
estate.

Thought Tip # 3

“The biggest risk of all is not
taking one.”

Mellody Hobson

Deductions lower your taxable income, while credits reduce
your tax liability dollar-for-dollar. If your deductible expenses exceed the standard deduction, itemizing can provide greater tax savings. Common itemized deductions include mortgage interest, state and local taxes, and charitable contributions. Tax Credits: Explore available tax credits such as the Earned Income Tax Credit (EITC), Child Tax Credit, and education credits like the American Opportunity Tax Credit and the Lifetime Learning Credit. These credits can directly reduce the
amount of tax you owe.

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