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As we approach the end of another year, we thought it would be helpful to provide a list of opportunities to hopefully help you end 2023 on a financial high note. Tax Loss Harvesting: For those with taxable investments that have an...
Read MoreAccording to the Social Security Administration, the 71 million Americans who receive Social Security benefit and Supplemental Security Income (SSI) payments will see an increase of 3.2% next year. This is an average increase of...
Read MoreMany investors are likely to see the recent 5% (or higher) yields in short-term instruments like CDs and Money Market funds as too good to pass up. With interest rates near zero for such an extended period of time, the past 12 months...
Read MoreLast month we talked about some practical summer planning ideas: more nuts and bolts. This month, we look at some aspects of the more touchy-feely side of planning. It’s important to remember, financial planning is not just about...
Read MoreSummer is officially here. While we of course look forward to rest and relaxation during these warmer months, it can also be an ideal time to check on a few important but less urgent planning items. This is especially true if you were...
Read MoreWith the 2nd half of 2023 nearly upon us, we take a quick look ahead at some important upcoming dates for which to prepare.September 15th: Estimated Tax Payments for the 3rd quarter are due for the self-employed or those who do not...
Read MoreIf you have a certificate of deposit (CD) that is maturing soon, it’s time to make a decision. Your CD has been collecting interest for months or years, helping you to get closer to your financial goals. Now you need to decide whether...
Read MoreLast month, we reviewed 529 College Savings plans, why people use them, and how the use of funds has expanded over the last few years.This month, we’ll review options for unused savings in order to minimize taxation or penalty on...
Read MoreMost people have heard of 529 College Savings plans and understand their value in relation to saving money for future higher education for young family member. What some may not know is that the qualifying use of these dollars as well...
Read MoreDo you have 529 college savings funds that may go unused by their intended beneficiary? Your first option is to provide the money to another beneficiary. However, if you don’t have an alternate beneficiary to whom you want to transfer...
Read MoreIn late 2022, the SECURE Act 2.0, a bill three years in the making, was signed into law. While there are several provisions in this bi-partisan-supported bill, we’ll highlight just a few that may be particularly interesting with...
Read MoreAs we wrap up another year, let’s look ahead to the first half of 2023. Here is a short list of some important upcoming dates to watch for. January 1stThe first of the year is when cost-of-living increases are effective for Social...
Read MoreAs we approach the end of another year, a year that has been challenging on many fronts, we thought it would be helpful to provide a list of opportunities that could end 2022 on a positive note.Roth IRA Conversions: When market values...
Read MoreThe Social Security Administration has announced the Cost of Living Adjustment (COLA) for 2023. Based on the Consumer Price Index (CPI-W) from the third quarter of 2021 through the third quarter of 2022, recipients of Social Security...
Read MoreTraffic jams are unwelcome nuisances. Unless we know the cause and what every other driver on the road is going to do at any given time (which is of course impossible), we can’t know the right route to get to our destination quickly...
Read MoreESG (Environmental, Social, Governance) investing involves a set of characteristics used to evaluate potential investments, and their impact on society at-large. These factors generally include how a company cares for and impacts the...
Read MoreWith the significant increase in property values in many areas of the U.S., if you own a home, now may be a good time to review your homeowner’s insurance policy. Why? Well first off, one in twenty insured homes has a claim each year,...
Read MoreIf you missed last month’s Digital Assets Part I, take a quick read as to why we should be concerned about this area.As we shared in our last post, Digital Assets can include information stored on an individual’s digital devices...
Read MoreThis is first part of an updated series on Digital Assets, which we hope will be helpful as the things we purchase and memories we store are more and more intertwined with technology.Part I: What is a Digital Asset, and Why Should I...
Read MoreLegacy can be a subjective, even philosophical topic. What should be handed down to the next generation and how should a person or family be remembered? When it comes to financial legacy, often a critical part of the definition...
Read MoreOnce you file your tax return each year, it’s a good idea to start planning for next year’s return. Here are a few things you can look at doing today to help set yourself up for success in tax year 2022. Did you owe more than $1,000 or...
Read MoreDepending on your tax situation, your investment and tax advisors may have suggested looking at converting some of your Traditional IRA assets to a Roth IRA. Potential benefits of a Roth conversion include tax-free growth and no...
Read MoreEach January many people reflect on the past year and set new goals for the next 12 months and beyond. When it comes to retirement, a “bucket list” is a common reference to checking off a list of activities in which you want to...
Read MoreThis is the time of year for festive gatherings and generosity. It’s also the time of year when we get a glimpse of expected financial changes for 2022. Contribution limits for some retirement accounts will be increasing in 2022. We...
Read MoreAs we approach the end of each year, giving is often our minds. However, with close to 90% of US taxpayers now taking the standard deduction on their tax return, is there still also a financial incentive to give to charity? Good news:...
Read MorePublic Service Student Loan Forgiveness While we wait for possible tax changes coming from Washington, one temporary modification already in place is the expansion of eligibility for the Public Service Loan Forgiveness program. On...
Read MoreAs we approach the cooler months, it is likely an important time to check in on your parents and aging relatives regarding their physical and financial health, to ensure they were not derailed by last year’s events. Financial...
Read MoreWe continue our two-part series mid-year planning opportunities. Last month, we covered reviewing retirement plan contributions and the new enhanced child tax credit. Manage assets in light of potential tax changes There have been many...
Read MoreAs we pass the midpoint of 2021, we thought it would be good to take a look at a few important planning opportunities/updates that are worth considering depending on your situation. This is a two-part posting and this month we look at...
Read MoreYou may be familiar with the Section 121 Residence Exclusion without really being aware of it. This is the actual name for the tax benefit that protects owners from taxation on the sale of their primary residence, specifically gains of...
Read MoreOne of the lesser-known impacts of the Consolidated Appropriations Act of 2021 (the act that brought us the second round of COVID-related stimulus payments) is a series of changes to the Free Application for Federal Student Aid (FAFSA)...
Read MoreWe return to our Budgeting series. In February, we explored the importance of savings to building your personal budget. This month, we will look at finding a balance between spending and giving. Spending Besides increased online...
Read MorePart 2 of our Budgeting series started last month, will continue next month. On March 11, 2021, President Biden signed the $1.9 trillion coronavirus relief package known as the American Rescue Plan (ARP) into law. This is the third...
Read MoreThe last 12+ months have likely had a financial impact on everyone. What kind of impact runs the gamut, from those who lost their jobs or some part of their income to those who managed to save additional money due to their limited...
Read MoreOn December 27, 2020, President Trump signed into a law a new $900 billion coronavirus relief package. This much-anticipated bill was paired with a $1.4 trillion bill to continue government funding into September. We are already in the...
Read MoreWhat’s one positive that can come from an unexpected challenge, whether a natural disaster or a health event? We take a step back from the daily grind and look at how well we are prepared if and when another challenge comes. Many...
Read MoreThe Social Security Administration announced that the official Cost of Living Adjustment (COLA) for 2021 will be an increase of 1.30%. This is slightly less than the 1.60% bump we saw in 2020, and much smaller than the 2.80% increase...
Read MoreAs we continue to navigate a world with COVID, many parents and students are reconsidering the traditional college experience and, as such, may be wondering what their options are with college savings. The most popular college savings...
Read MoreIt’s been quite a year so far, where we saw volatility in the market, a global pandemic that lingers, and significant policy action by Washington D.C. to assist our citizens. For those who have taken advantage of some of these policy...
Read MoreThe rise in identity theft scams continues. According to Javelin Strategy & Research, fraud losses increased 15% in 2019 to $16.9 billion. This was led by account takeovers – ID theft where a criminal gains unauthorized access to an...
Read MoreWere you on the ball and already took your required minimum distribution (RMD) early? As many now know, as a result of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, RMDs were waived for 2020 for all retirement...
Read MoreIn last month’s blog, we talked through the details regarding the stimulus payments, but there has since been a new development: Pre-Paid Debit Cards.That’s right. Even with all this talk of checks, for some it’s not going to be a...
Read MoreOne of the key components of the CARES Act to help lessen the financial impact of the COVID-19 pandemic was a direct payment to a majority of Americans, called Recovery Rebates or stimulus checks. First, what are these rebates, and...
Read MoreRecently, there were two key orders from the federal government in response to the COVID-19 pandemic: the extension of the tax filing and payment deadlines, and the CARES Act. Let’s take a look. Extension of Tax Filing and Payment Due...
Read MoreA Roth conversion can be a great way to move retirement savings from tax-deferred vehicles to a Roth IRA, where withdrawals on the earnings are not subject to income tax. The “cost” of the conversion is fairly simple: income taxes are...
Read MoreAs you may have heard, the SECURE Act was passed in late December of 2019, with what many are calling the most comprehensive changes to retirement in over a decade. SECURE stands for Setting Every Community Up for Retirement...
Read MoreIt’s a new year and a new decade. There seems to be extra incentive to move towards our goals and resolutions, so we wanted to briefly mention two simple but important tips to help keep you on track. Write out the full year 2020. When...
Read MoreThe holiday season is usually full of reconnecting with family and friends. As you get updates on the lives of those closest to you, it’s a good idea to consider whether the beneficiaries on your investment accounts are up to date. The...
Read MoreThe last couple of posts we’ve talked about giving to and investing in causes that are important to you. For the next two posts, we’re going to bring the topic of giving a little closer to home. This month, we’re going to cover giving...
Read MoreMore and more it appears that people prefer companies to not only have a solid product at a competitive price, but also provide a positive impact on our world. We are also starting to see this spill over into the investing space as...
Read MoreIn last month’s post on technology scams, we reviewed robocalls and tips to avoid getting duped by this rampant problem. In our follow-up posting we look at another scam to watch out for: Sweetheart Scams. Research tells us that...
Read MoreTechnology is great. Think of all the advances in healthcare, communication and transportation just in the past decade. Like anything else, though, you must take the bad along with the good. Advancements in technology open the door to...
Read MoreThat’s a very philosophical question, but important nonetheless, especially when it comes to your relationship with money. Healthy relationships with money can often be illustrated by generosity and charitable intent. This can also be...
Read MoreThere are a couple of bills that are before each of the two houses that could have small but meaningful impact on personal finances and retirement planning. While they are similar, let’s focus on the bill before the House of...
Read MoreUnless you’ve filed for an extension, you now know the impact of the new tax changes on your individual income taxes. Whether positive or negative, many people are noticing that their tax withholding was either too high or not high...
Read MoreSpring is here. The birds are singing, the flowers are blooming – and families are making college decisions. While college enrollment in the U.S. has been flat for the last few years, the rate still hovers around 70%. College remains a...
Read MoreTowards the beginning of a new year is often a good time to review the named beneficiaries on your investment accounts. This is important to do this on an annual basis as life can change quickly and it may not be on your radar to make...
Read MoreAs 2018 winds to a close, it’s a good time for reflection on the past year. The 2017 Tax Cuts and Jobs Act was officially signed in to law on December 22, 2017. 2018 tax returns will be the first time that we all get to see the...
Read MoreAs the year winds down, there are some important actions you may want to take before the clock runs out on 2018. Roth IRA First and foremost, check your eligibility to contribute to a Roth IRA. With most of us seeing a tax deduction in...
Read MoreBeginning September 21, 2018, those concerned about identity theft can freeze their credit and place one-year fraud alerts at no cost. Due to the passage of the new Economic Growth, Regulatory Relief, and Consumer Protection Act,...
Read MoreMany recent college graduates find they have a difficult decision to make: contribute to their employer’s 401(k) plan or focus on student loan repayments. The choice between paying down debt and funding retirement can be a tough one,...
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