We cannot let a year go by without changes to the income tax regulations. The new Inflation Reduction Act of 2022 brings a number of tax law changes. The following are some of the more significant items: For those who receive Advance Premium Tax Credits for their Health Insurance Exchange (Obamacare) premiums, the Inflation Reduction …
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The strain the Coronavirus pandemic put on the economy is undeniable. In spite of this, since the second half of 2020, stock markets have reached record highs. As of June, 10, 2021 the Dow Jones closed at an astonishing 34,466.24 points with the S&P 500 reaching an intraday high of 4,239.8 points. This seemingly unfathomable …
Continue reading “Inflation: What’s Happening and How Can I Prepare?”
In a year which many thought would never end, miraculously we have found ourselves in December. Before the clock strikes midnight on New Year’s Eve, there are some easy steps to take on your own to prepare yourself for the upcoming Tax Season. While we highly recommend turning to trusted tax professionals for your tax …
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September is Life Insurance Awareness Month and while we push onward through this pandemic, the year has left many families without loved ones; loved ones who may or may not have prepared a financial back-up plan including life insurance to protect themselves and their family. Read more to find out which plans can provide tax-free …
Many of us haven’t been able to see our family members this summer due to Covid-19. For now, family get-togethers and vacations have been put on hold, but there are still ways for us to connect and be there for each other. 2020 has given all of us more time to think about our past, …
Continue reading “Leaving a Legacy: The Human Side of Estate Planning”
Thus far 2020 has been a year filled with uncertainty, with one exception, the choice on whether or not to take a 2020 RMD disbursement. Due to both the SECURE and CARES Act, a multitude of options are available for those of age to receive RMDs. The choice is whether or not to take …
Do you plan to leave money, assets, or other belongings to loved ones after you pass away? If you become seriously ill or incapacitated, who do you want to make financial decisions on your behalf? What about healthcare decisions? A well-constructed estate plan addresses all of these questions and more. Unfortunately, many people mistakenly believe …
As this is family wellness and legacy month, let’s talk about life insurance. Life insurance is a love letter to help your loved ones. Life insurance says “Honey when I walk out, cash will walk in tax-free.“ It is common knowledge that life insurance is often used to pay for funeral and end of life …
Year-end tax planning can help you take advantage of the sweeping changes contained in the Tax Cuts and Jobs Act. Whether it means limiting your tax liability, increasing your refund, or saving on your tax bill, a short meeting with your tax advisor before December 31st will allow you to strategize your financial decisions to …
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401(k) plans —for the last 40 years, these retirement accounts have been touted as a market-based replacement for traditional pensions. In reality, the transition to 401(k)s as the dominant form of employer-based retirement support is a multigenerational, and largely accidental, experiment. Originally established in 1981 as a supplement to traditional benefits programs, the first 401(k) …
Continue reading “Your 401(k) Might Be More Dangerous Than You Think”
Robots—they build our cars, vacuum our rugs, curate our social media feeds. And, since the first automated investing platforms made their debut in 2008, they even help us manage our finances. Robot advisors, or “robo-advisors,” are currently on track to manage $1 trillion in assets by 2020 according to Business Insider. As big names like …
On June 13th, the Federal Reserve raised interest rates for the second time this year and, according to Fed Chairman Jerome Powell, we can expect two more rate hikes before 2019. Viewed from a distance, rising interest rates are a sign of economic prosperity. With unemployment hovering around 3.9% and wages slowly but steadily creeping …
Continue reading “On the Rise: Interest Rates and Your Retirement”
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