Tag: Tax Advantages

Tax-Loss Harvesting

Sep 16, 2022

A useful move to counteract capital gains

At one point or another, you may realize capital gains, which is a taxable event. What can you do about them? You can do what some investors do – you could recognize investments with a loss and practice “tax-loss harvesting.” (more…)

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That First Required Minimum Distribution from Your IRA

Jun 10, 2022

stop watch alarm clock IRA
What you need to know

When you are in your seventies, Internal Revenue Service rules say that you must start making withdrawals from your traditional IRA(s). In I.R.S. terminology, these annual withdrawals are considered your Required Minimum Distribution (RMDs).1 (more…)

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Mutual Fund Distributions

Mar 17, 2022

Capital Gains Tax Sticky Note
Watch your December Statements.

This time of year as you prepare for taxes, you might glance at an documents and see some capital gains taxes you may have overlooked.

Many mutual funds in December pay shareholders capital gains distributions that they have accumulated throughout the year.1

Typically, mutual fund companies start making estimates about distributions as early as November and most finalize the payment by mid-December. Unfortunately for us, this can cause undesirable tax consequences. (more…)

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How Market Cycles Can Impact Retirements

Mar 11, 2022

stock market
Sequence of returns can play a role in your overall portfolio

A thoughtful retirement strategy may help you pursue your many retirement goals. That strategy must consider many factors, and here are just a few: your income needs, the order of your withdrawals from taxable and tax-advantaged retirement accounts, the income tax implications of those withdrawals, and sequence of return risk. (more…)

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The Retirement We Imagine vs the Retirement We Live

Mar 4, 2022

No Work Ahead Retirement Sign
Examining the potential differences between assumption and reality

Financially speaking, retirement might differ from your expectations. Just as few weathercasters can accurately predict a month’s worth of temperatures and storms, few retirees find their financial futures playing out as precisely as they assumed. Because of this, some common financial assumptions (and anxieties) about retirement are worth examining. (more…)

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Trends in Charitable Giving

Feb 9, 2022

Colorful Arrows
The hows and whys of charity in America

According to Giving USA 2020, Americans gave an estimated $410.02 billion to charity in 2019. That’s the first time that the amount has totaled more that $400 billion in the history of the report.

Americans give to charity for two main reasons: to support a cause or organization they care about or to leave a legacy through their support.

When giving to charitable organizations, some people elect to support through cash donations. Others, however, understand that supporting an organization may generate tax benefits. They may opt to follow techniques that can maximize both the gift and the potential tax benefit. Here’s a quick review of a few charitable choices: (more…)

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Explaining the Basis of Inherited Real Estate

Jan 19, 2022

Giving house away
What is cost basis? Stepped-up basis? How does the home sale tax exclusion work?

At some point in our lives, we may inherit a home or another form of real property. In such instances, we need to understand some of the jargon involving inherited real estate. What does “cost basis” mean? What is a “step-up?” What is the home sale tax exclusion, and  what kind of tax break does it offer? (more…)

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Tax Considerations for Retirees

Dec 3, 2021

income tax calculator binder pen spreadsheet
Are you aware of these potential tax breaks and tax-saving opportunities?

The federal government offers some major tax breaks for older Americans. Some of these perks deserve more publicity than they receive. (more…)

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Cash Alternatives for Charitable Giving

Oct 27, 2021

Charitable Giving
Thinking about donating? Think of these choices.

The year is winding down, and you may be thinking of giving. In fact, you may want to explore the different ways in which you can donate to a charity or non-profit organization, apart from just making a cash gift. Consider some of the alternatives of charitable giving.  (more…)

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Tax & Estate Strategies for Married LGBTQ+ Couples

Jun 4, 2021

LGBTQ
In the age of marriage equality, there are new possibilities.

The 2015 Obergefell v. Hodges Supreme Court decision streamlined tax and estate strategizing for married LGBTQ+ couples. If you are filing a joint tax return for this year or are considering updating your estate strategy, here are some important things to remember. (more…)

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More Insights

Dec 7, 2022

Through all the challenges, newfound opportunities, and every high and low we’ve experienced during the last couple of years, it’s no surprise why we might be striving for more balance. Whether it’s about the markets and global economy or what’s happening in our local communities, the news we’re hearing on a daily basis has the … Continue reading “Market Update: Outlook 2023”

Dec 5, 2022

The Internal Revenue Service has released new limits for the coming year. After months of high inflation and financial uncertainty, some of these cost-of-living-based adjustments have reached near-record levels.

Dec 2, 2022

Unless you live on another planet, you are fully aware of this thing called inflation — whether you’re at the grocery store, a gas station, buying clothes online, hiring a contractor or doing almost any other thing that requires spending money for something. Earlier this year, the Federal Reserve started raising interest rates to rein … Continue reading “Taking a Hike”

Nov 30, 2022

Identity theft is a growing concern, impacting 14.4 million U.S. Consumers in 2019. Armed with your Social Security number, a criminal can use that information to commit tax- and other financial-related crimes in your name.

Nov 28, 2022

Try these morning rituals to get your day off to the right start. What’s your current morning routine? Maybe it goes something like this: sigh as the alarm goes off, begrudgingly pull yourself out of bed,

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