Market volatility can provide plenty of opportunities for portfolio rebalancing and this is especially true when markets enter “correction mode”. Market corrections are associated with price declines of 20% or more. As many of you know, we are actively monitoring investment portfolios for …
Tax Planning
How To Prepare For Tax Season
Many people put off dealing with their tax information because it can feel overwhelming. Starting early, being organized, and staying in-touch with your tax professional throughout the year are easy ways to avoid the last-minute headache of tax preparation. Here are some tips and information to help …
Five Tax Planning Opportunities
Reducing your tax bill is an important financial planning goal. Here are five evergreen strategies for shrinking the amount of taxes you owe. 1. Max out contributions to your retirement accounts Contributions to workplace retirement savings plans and IRAs reduce your current taxable income. In …
Save More For Retirement With Your Health Savings Account
As you plan for retirement, consider using one of the best options for building tax-advantaged savings – a Health Savings Account (HSA). An HSA is a medical savings account available to anyone enrolled in a high-deductible health plan (HDHP). Account funds grow tax-free until withdrawn, and as long …
Make the Most of the 2018 Tax Law Changes
A year ago, Congress enacted significant changes to the U.S. tax code, which took effect on Jan. 1, 2018. One of the biggest changes is the across-the-board reduction in income tax rates and expansion of income brackets. That’s good news for anyone who pays taxes. But many of the other changes could …
Gifting to avoid taxes? You might not need to.
Many people know that giving away assets before your death can protect your heirs from paying estate taxes, which can be as high as 40%. But in some cases, gifting can actually lead to an unintended increase in taxes… particularly income tax! Due to recent changes in the federal estate tax law, it …
Social Security Strategies
Social Security benefits are an important factor in retirement planning. Unfortunately, many Americans start collecting their payments too early, potentially costing them tens of thousands of dollars over time. For most people, it pays to hold off. Let’s take a look at some options: STRATEGY 1: …
The “Tax Cuts and Jobs Act” What to Expect from Recent Changes to the Tax Code
On December 22, 2017 the “Tax Cuts and Jobs Act” was signed into law. In general, it lowers tax rates, but limits certain deductions. Except where noted, the changes begin with the 2018 tax year and expire in 2025. While most of the changes do not impact your 2017 taxes, they do create some new …
Charitable Gift Fund FAQs
A Charitable Gift Fund (CGF) is a great way to manage donations to your favorite causes while optimizing your tax advantages. With a CGF, you can take a current tax deduction as you pre-fund your gifting for the years ahead. Also known as a “Donor Advised Fund”, the account is managed by a public …
Tax Considerations For Nonresident Aliens Working in the U.S.
U.S citizens, permanent residents (green card holders) and individuals who pass the substantial presence test (183 days over a 3-year period, counted using a special formula) are taxed on worldwide income and are subject to complex disclosure requirements relating to financial accounts held abroad. …
