Tag: Tax Advantages

Year End Tax Planning

Oct 18, 2023

As the end of the year approaches, it’s time to consider strategies that could help you reduce your tax bill. But most tax tips, suggestions, and strategies are of little practical help without a good understanding of your current tax situation. This is particularly true for year-end planning. You can’t know where to go next if you don’t know where you are now. (more…)

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Choosing an Income Tax Filing Status

Sep 18, 2023

How should you file?

Selecting a filing status is one of the first decisions you’ll make when you fill out your federal income tax return, so it’s important to know the rules. And because you may have more than one option, you need to know the advantages and disadvantages of each. Making the right decision about your filing status can save money and prevent problems with the IRS down the road.

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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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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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More Insights

Dec 4, 2023

When developing your estate plan, you can do well by doing good. Leaving money to charity rewards you in many ways. It gives you a sense of personal satisfaction, and it can save you money in estate taxes.

Dec 1, 2023

November lived up to its reputation as a strong month for stock market seasonality with the November “Turkey Rally” delivering outsized returns for stocks. Now as we look ahead to December, investors are asking the question: Is the Santa Claus Rally still coming to town?

Nov 29, 2023

Key Takeaways: Gold is starting to shine again after confirming support off its rising 200-day moving average last week. A meaningful pullback in interest rates and the dollar underpinned the recovery in the yellow metal. Momentum indicators point to a bullish trend change, while speculator long positions in gold continue to outpace shorts. Central bank … Continue reading “Is Gold a Good Investment?”

Nov 27, 2023

Keeping good business records will not only help you stay in business but may also help you increase profits. Your business records let you analyze where your business is and where it’s going. They point out potential trouble spots and serve as a guide to where you want your business to be.

Nov 22, 2023

There’s no doubt the last few years have been challenging for fixed income investors. And while 2023 was supposed to be the year for bonds, fixed income returns for most core bond categories have only recently turned positive for the year. That said, despite the recent challenges, we think there are several reasons to be … Continue reading “Five Things We’re Thankful For: Fixed Income Edition”

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