How the Latest Relief Packages Affects AGI’s, RMD’s, Deductions
The U.S. Congress recently passed, and the President signed, the 5,593-page Consolidated Appropriations Act of 2021 relief package—and experts are still mulling over what the impact will be on ordinary citizens. There are stimulus checks, tax planning relief provisions, and a break for people who experience high medical expenses during the pandemic. There’s even […]
Long-Term Care: What You Need to Know
There are many misconceptions and misunderstandings about long-term care (LTC), including who needs it and how to pay for it. It’s essential to break down the main components of long-term care insurance to find what is right for you. What does long-term care mean? If you’re already on Medicare or researching it, you know […]
Key Financial Tips for Aspiring Entrepreneurs
Many Americans retire from the office job that they held for several years and decide to go into business for themselves, becoming mid life entrepreneurs. Others don’t wait to retire but leave the corporate world to launch. Of course, some people never work for others but engage in entrepreneurship from the very beginning. The world […]
Maximize Your Charitable Giving Strategy
You might recall that the Tax Cuts and Jobs Act made it much harder for Americans to get tax breaks on their charitable giving by raising the standard deduction so that fewer people have the opportunity to itemize. Of course, you want to do some good for the community with your charity dollars! But receiving […]
Save More The Smart Way
Many of our clients are already saving a significant portion of their incomes for retirement and other financial goals. You may already be maxing out your employee contribution and ensuring that you take full advantage of any available employer match on your 401(k). Yet, there may be some savings ideas that you haven’t previously considered […]
Your Finances: What You Need To Do First When Your Spouse Dies
It’s common for the surviving spouse to feel a bit lost upon the death of their partner. You may not have immediate access to all the household assets or know what information you need to put together for the estate. This time can be very confusing, so it’s essential to feel that you can […]
Is Your Estate Planning Up-to-Date?
It’s no secret that many Americans put off creating a will — even those who need it most. But one milestone event often triggers a shift in mindset: the arrival of a child or grandchild. Usually, it hits people right before they get on a plane for the first time following the child’s birth: “If […]
Why it’s Smart to Start a 529 Education Savings Plan
Saving for your child’s future education costs can be one of the most important decisions for parents. The price of tuition alone is staggering, with new increases each year. Imagine being a new parent and what education costs will be in eighteen years when your child would potentially be in their first semester of higher […]
Estate Planning: Probate and Trusts
In our last article on estate planning, we explained why estate planning is essential and discussed the basics of wills and powers of attorney. You probably know you want to avoid probate, but you might not know precisely why.. Probate This process proves a decedent’s in court as legal and determines whether the decedent’s intentions […]
Why Having a Financial Advisor Team is Important
With the advent of online trading platforms and information available for free on the Internet, many investors have decided to take a do-it-yourself approach to manage their money. Managing your portfolio is perfectly fine, especially those who are just starting, have little money, or have less complicated financial situations. However, once investors begin accumulating […]