Financial Elements Inc

Financial Planning Consultants, Accounting Services, Financial Planners

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16 Years

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(847) 496-4179Call Visit WebsiteVisit Website Map & DirectionsDirections1861 Hicks Rd Ste DRolling Meadows, IL 60008 Write a ReviewWrite Review

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Financial Planning Consultants, Accounting Services, Financial Planners, Financial Services, Investment Advisory Service, Investment Management, Investments, Mutual Funds, Retirement Planning Services, Stock & Bond Brokers, Tax Return Preparation, Taxes-Consultants & Representatives

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Phone: (847) 496-4179

Address: 1861 Hicks Rd Ste D, Rolling Meadows, IL 60008

Website: http://financialelementsinc.com

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Financial Elements Inc

Tax Planning
Following are just a few life events you may encounter over time. Each can translate into tax-planning challenges and opportunities...
Charitable Giving
How do we plan when we cannot know? The particulars may evolve, but it seems there are always an array of tax breaks to encourage us to save toward our major life goals—such as retirement, healthcare, education, emergency spending, charitable giving, and wealth transfer.
Estate Taxes
Tax Services
Are you being deliberate about selecting tax-efficient vehicles? Even when different funds share identical investment objectives, some may be considerably better than others at managing their underlying holdings. Seek out fund managers with solid tax-management practices, including...
Roth IRA
Eligibility for Roth IRA contributions has increased, as well. These have bumped up to between $129,000 to $144,000 for single filers and heads of households, and $204,000 to $214,000 for those filing jointly as married couples.
Tax Deductions
Nearly nine in 10 taxpayers now take the standard deduction and could potentially qualify for this new tax deduction. In tax-year 2018, the most recent year for which complete figures are available, more than 134 million taxpayers claimed the standard deduction, just over 87% of all filers, according to the IRS.
Income Tax
Keep in mind that if you spend your HSA funds for non-qualified expenses before age 65, you may be required to pay ordinary income tax as well as a 20% penalty. After age 65, you may be required to pay ordinary income taxes on HSA funds used for non-qualified expenses. HSA contributions are exempt from federal income tax; however, they are not exempt from state taxes in certain states.
Capital Gains Taxes
4 Under current law, real estate investors can delay capital gains taxes when they sell properties and direct earnings into new investments - assuming they follow the IRS’s regulations as to what defines eligibility for Section 1031 exchanges.

Investment Management
Financial Elements’ premier service includes investment management as the next step after developing the financial plan. This ensures that we address all aspects of your financial life, providing you with frequent progress updates and ongoing personal communication.
Mutual Funds
We believe that the best approach to building and managing investment portfolios is diversification and asset allocation based on the tenets of Modern Portfolio Theory. With our Investment Management services, we continually monitor your portfolio, rebalancing and adjusting course if necessary. We typically use mutual funds and ETFs to achieve a diversified, low cost portfolio.
Bonds
Wealth Management
All that said, we still have abundant gratitude to share. In good times and bad, being able to help others maintain their financial well-being adds meaning to our own lives beyond compare. For our current clients, we deeply appreciate being in a position to advise you and yours during such challenging times. We are honored to be entrusted with your wealth management throughout the pandemic, and beyond.

Accounting Services
Payroll Services

Financial Planning
Thank you for your interest in Financial Elements. I’m proud of what I do every day to help improve the financial lives of my clients and am honored by the trust and confidence that they have placed in me. Please look around and get to know my firm and my services, and if you have a minute, read this page. I have a passion for what I do and hope that comes through to you. The way I do financial planning is personal and attentive. I want to get to know you so I can understand and help you achieve your goals. The better I get to know you, the better I can suggest appropriate strategies that can help you manage your day to day financial lives, plan for the future, invest appropriately without fear and panic, and protect what you have built. You’ll probably get to know me a bit during the process as well and we will have some shared experiences and learn from one another. You can read a bit about me in my biography, but since I’ll be asking you to share with me, let me share a bit more about myself and how it relates to how I can help you.
Retirement Planning
Engage in Retirement Planning: Along with a globally diversified investment portfolio, you’ll want a solid strategy for investing for, and spending in retirement. For example...
Long Term Care
Life is full of transitions: getting married, starting a family, changing jobs, starting a business, moving, caring for family members (both children and aging parents) and early retirement are just some of the events that we’ll discuss and incorporate, as appropriate, into your financial plan. We will also address your insurance and long term care needs, as well as your estate planning and gifting strategies. Your financial plan is a working document that evolves as the journey progresses, ensuring that you will be in a position to address both expected and unexpected events.
Asset Management
Once you’re retired, we continue monitoring and rebalancing your asset allocation and provide guidance on a sustainable withdrawal rate as well as assisting you with the logistics of your income needs.
Gifting Strategies
College Funding
Brenda Knox, Founder and President of Financial Elements, Inc., has been a fee-only financial advisor for more than 24 years, and has helped hundreds of clients plan their financial lives. Her passion is developing long-term relationships with her clients and tailoring her services to their individual needs, including investment management, retirement and social security planning, cash flow and savings, insurance, estate, and college planning.

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