Over the years we have found that there are some misconceptions on the dreaded “gift tax” (which currently has a maximum rate of 40%) – what it is, who pays it and how it can be avoided. Here are some of the most common...
We use a few pieces of powerful financial planning and investment management software. These tools help us keep track of dozens of factors about your financial life, chart a course forward and analyze whether you’re on track to meet your goals. The hub for everything...
Are you traveling abroad for an extended period of time? If so, here are a few things you could do with your credit to help you have a smooth trip....
It’s tax season, so we have been talking about different types of tax with clients a lot lately. Although ordinary income tax and capital gains tax are not the only types of taxes that exist, they are the two we deal with the most. So,...
In my career as a CERTIFIED FINANCIAL PLANNER™ I have had the opportunity to work with many clients reviewing their investment accounts. What has always struck me was the large number of accounts that are held across an array of firms such as brokers,...
In December 2019 the SECURE Act was signed into law. This brought about changes to retirement savings and one of the most impactful changes applied to non-spousal beneficiaries of IRAs. The most common example of this is an adult child inheriting their parent’s IRA, so...
Recently we have had several clients ask what they should do with their extra cash. This may be cash that is set aside for a short-term goal (1-3 years) or it could just be cash that has accumulated in the bank. While we make different...
If your auto and homeowner’s insurance premiums have risen significantly this year, you are not alone. Auto rates in particular have jumped significantly and unfortunately, premiums are expected to continue to rise. The Wall Street Journal recently reported rate increases for selected insurers and showed...
We noted in our Q1 newsletter that the broad-based rally we were seeing in the most economically sensitive stocks had caused us to get more bullish on the stock market at the beginning of the year. That has proven to be the right call thus...
The short answer is probably, and the good news is no one pays taxes on 100% of their benefit. Many people are surprised to find out that their monthly Social Security income is not tax-free. Most Americans pay federal taxes on their benefits, and some...