Wow! There is a lot in this bill and no way we are going to cover everything or deep dive into anything specific. So…after reading and reading, here is an extensive glance at some of our notes. Note: It is imperative that you consult with your tax advisor before implementing any strategies. One of the…
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Retirement accounts and trusts…Could be like oil and water. If you have a substantial retirement account like an IRA or 401(k), it’s not uncommon to want to name a trust as a beneficiary. There are a number of reasons. Maybe you have underage children. Perhaps you are concerned that your heirs would spend everything the…
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You may want to think again! It’s common for a parent, or parents, to start gifting assets to their children as they get older. The problem is that they don’t seek advice and if they do, it’s typically from the wrong people. Unfortunately, the result can be very costly to the family. It could rock…
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This might be an easier question to answer than “what is new in DC?” It feels a bit like drinking from a fire hose, so we thought it might be beneficial to zero in on some things that are important to the families we serve. #1…Which, by the way, is my favorite! The on again,…
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While looking for some entertaining statistics on how much exercise equipment is bought in January, I found out why Presidents Day sales are so good. It falls in line with all the returns made on the New Years Resolution items from January. In one way or another this rings true for all of us. I…
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Let’s face it…No one wants to talk politics these days, but facts are facts. We are approaching a presidential election, so politics need to be top of mind. As we dive in, I will give you peace of mind though. We are not going to provide any biased content and we are going to keep…
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Wait…That doesn’t sound right! Retirement years are supposed to be “the easy years,” right? There is a saying (paraphrased) that states that what messes up most in life is the picture in our head of how things are supposed to be. Retirement is a prime example of this. We assume that if we work hard,…
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For many Americans, putting money back into a retirement account such as a 401(k) or traditional IRA has been their primary choice to save for retirement. After all, most company plans offer some sort of matching incentive based on what you contribute and your contributions are deducted from your taxable income. In fact, you may…
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Can you hear it? It’s those two, ominous notes from the movie Jaws to let you know we are drawing nearer and nearer to the almost inevitable…the sunset of the Tax Cuts and Jobs Act (TCJA) of 2017. This could mean that higher income taxes and estate taxes are headed your way. It’s important to…
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Last week the IRS announced inflation adjustments to more than 60 tax provisions for 2024. Although “inflation adjustments” may not sound like that big of a deal, it may have some low hanging fruit you don’t want to miss picking. We are in an ideal time to plan for your future. Short-term interest rates are…
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