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Forrest Baumhover

CFP®, EA, CDFA
Retirement, Investing, Taxes
86%
Helpful
3
Answers
7
Articles
7
Followers
“Our most important service is making sure that you make the changes in your life that you need to be successful.”
Firm:

Lawrence Financial Planning

Job Title:

Financial Planner

Biography:

Forrest Baumhover joined Lawrence Financial Planning in 2018 after a rewarding 24-year Navy career.  He holds a B.S. in English from the United States Naval Academy and an M.B.A from Old Dominion University. Forrest has been a CFP® professional since 2015.  He is also enrolled before the IRS as a tax practitioner.

As a veteran and a financial planner, Forrest understands the difficulties of being financially prepared for the unexpected.  His personal experience in helping sailors resolve their own financial challenges inspired him to become a financial planner.

Forrest has been quoted in USA Today, Christian Science Monitor, Business Insider, and Yahoo Finance.

Originally a native of Dade City, Florida, Forrest has lived in the Westchase community since 2014.  In his spare time, he volunteers as a transportation specialist, transporting his three children from activity to activity.

Education:

BS, English, US Naval Academy
MBA, Old Dominion University

Assets Under Management:

$85 million

CRD Number:

269918

All Articles
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Most Helpful
January 2017
    Military / Veterans, Retirement Savings
November 2016
    Military / Veterans, Taxes
November 2016
    Life Insurance, Military / Veterans
October 2016
    Life Insurance, Military / Veterans
December 2016
    Lifestage Based Planning, Military / Veterans, Taxes

All Answers
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Most Helpful
    Financial Planning, Taxes
How can we minimize our tax exposure?
20% of people found this answer helpful

It's hard to tell what tax-planning opportunities you and your wife have without looking at the entirety of your situation. For example, student loans, charitable contributions, or itemized personal deductions might be a factor on your personal return. IRA contributions may be an option, but you may not be eligible if you don't meet the adjusted gross income requirements. S-corporation owners may benefit from classifying part of the profit as dividend (exempt from self-employment tax), but it's hard to make the case if you are the primary source of income (i.e. You don't have employees, equipment, or contractors).

Fully developing a tax-efficient plan should probably be done with a financial planner or tax professional. However, these are all opportunities you may want to look into on your own as well.

December 2016
    Debt, Real Estate
Is a cash-out refinance a good idea for me?
0% of people found this answer helpful
March 2018
    Taxes, End of Life
March 2018