Qualified Charitable Distributions
Mar 22, 2021
Do you have an I.R.A.? As you enter your 70s, you may start to look at that I.R.A. not only as an asset, but also as a problem. By law, you must take required minimum distributions (R.M.D.s) from a Traditional I.R.A. once you reach age 72; there are very few exceptions to this. The downside of these R.M.D.s? The entire distribution is taxable. (You never have to take R.M.D.s from a Roth I.R.A., provided you are its original owner.) Qualified Charitable Distributions are a way you can take that RMD, but also reap tax-benefits as well. (more…)
Tags: Financial Planning, Personal Finance, Retirement Tax Savings, Tax Advantages, tax guide, Tax Planning, tax season guide, taxes
Changes to Paycheck Protection Program
Mar 5, 2021
On Monday, Feb. 22, the White House announced several changes to the Paycheck Protection Program (PPP) that went into effect on Wednesday, Feb. 24. These changes are intended to further target “the smallest businesses and those that have been left behind in previous relief efforts.”1
If you’re a small business owner in need of financial assistance, you may find these changes helpful in securing a Paycheck Protection Program loan: (more…)
Tags: Current Events, financial advisor charlotte nc, Personal Finance, tax guide
2020 IRA Deadlines Are Approaching
Feb 5, 2021
Financially, many of us associate April with taxes – but we should also associate December with important IRA deadlines.
December 31, 2021 is the deadline to take your Required Minimum Distribution (RMD) from certain individual retirement accounts.
April 15, 2021 is the deadline for making annual contributions to a traditional IRA, Roth IRA, and certain other retirement accounts.1 (more…)
Tags: Personal Finance, retirement, Retirement Planning, tax guide, tax season guide, taxes
Tax Filing Season for 2020
Jan 25, 2021
Recently, the Internal Revenue Service (I.R.S.) announced that tax season will start a little later than usual. This year the I.R.S. will begin accepting and processing 2020 tax filing returns on Friday, February 12, 2021.1 (more…)
Tags: financial advisor charlotte nc, tax guide, Tax Planning, tax season guide, taxes
1099 Form Help
Jan 22, 2021
What is a 1099 form? This is a record of payment from an individual or entity, showing a payment, generated for your records. The individual/entity sends a copy to both the payee as well as the I.R.S.1
Who might be sending 1099s? Clients send their contractors 1099s, recording work performed. Banks send 1099s to reflect interest from a savings account. A state may send a 1099 for a tax refund. If the financial institution who handles your retirement account writes you a check, they will also send you a 1099.1 (more…)
Tags: financial advisor charlotte nc, Personal Finance, Tax Advantages, tax guide, Tax Planning, tax season guide, taxes
Cash Balance Plans
Dec 4, 2020
In corporate America, pension plans may be fading away. Only 14% of Fortune 500 companies offered them to full-time employees in 2019. In contrast, legal, medical, accounting, and engineering firms are keeping the spirit of the traditional pension plan alive by adopting cash balance plans.1 (more…)
Tags: Employee Benefit Planning, Financial Planning, retirement, Retirement Planning, Retirement Tax Savings, tax guide, Wealth Building
Interest Rates and Your Mortgage
Nov 20, 2020
With the Federal Reserve keeping interest rates at or near zero, you may wonder about your mortgage. Is it a good time to refinance or even pay off the debt entirely? After all, your mortgage is one of the biggest expenses you may have in life, so why not rid yourself of that debt as soon as possible? (more…)
Tags: Certified Financial Planner Charlotte NC, Family Wealth, financial advisor charlotte nc, Personal Finance, Risk Management, tax guide, Tax Planning, Wealth Building
Tax & Estate Strategies Update for Married LGBTQ Couples
Sep 16, 2020
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 thinking about updating estate strategies, here are some important things to remember. (more…)
Tags: Estate Planning, Tax Advantages, Tax Deductions, tax guide, Tax Planning
2018-2019 Tax Season Guide
Nov 8, 2018
Tags: 2018 tax season, 2018 tax season guide, 2018 taxes, tax guide, tax season guide, taxes
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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