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We 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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