Tax & Estate Strategies for Married LGBTQ+ Couples
Jun 4, 2021
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…)
Tags: Tax Advantages, Tax Deductions, tax guide, Tax Planning, tax season guide, taxes
The IRS Extends Additional Tax Deadlines
Apr 26, 2021
Previously, the Internal Revenue Service (IRS) announced that the federal income tax filing due date for individuals for the 2020 tax year had been automatically extended from April 15, 2021, to May 17, 2021.1 (more…)
Tags: Personal Finance, Tax Advantages, tax guide, Tax Planning, tax season guide, taxes
Financial Strategies for Athletes
Mar 29, 2021
Whether you are a professional athlete, a college amateur, or an aspiring Olympian, you probably know what success feels like. You also know a thing or two about being a good sport when things don’t go your way. Good news: this means you already have some of the basics needed to create a financial strategy.
Don’t think so? Building a strategy is all about having distinct goals, knowing the risks, and determining how much time you have ahead of you. It’s also about surrounding yourself with people who have your best interests in mind and share your goals. (more…)
Tags: Certified Financial Advisor Charlotte NC, Financial Planning, Personal Finance, Retirement Planning, Tax Planning
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
Updated Life Expectancy Tables Create Opportunity for Retirees
Feb 3, 2021
If you are retired and have reached your seventies, you may have the opportunity to draw a little less income from your retirement savings accounts in 2022. Thanks to updated life expectancy tables from the I.R.S. RMD amounts may be reduced.
Next year, the Internal Revenue Service plans to update the life expectancy (more…)
Tags: financial advisor charlotte nc, Investment Planning, Investments, Retirement Planning, Retirement Tax Savings, Tax Advantages, Tax Planning
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
Building a Healthy Financial Foundation
Dec 11, 2020
When you read about money matters, you will sometimes see the phrase, “getting your financial house in order.” What exactly does that mean? When your financial “house is in order,” it means it is built on a solid foundation. It means that you have six fundamental “pillars” in place that are either crucial for sustaining your financial well-being or creating wealth. (more…)
Tags: financial advisor charlotte nc, Financial Planning, Personal Finance, retirement, Retirement Planning, Retirement Tax Savings, Tax Planning, Wealth Building
Do Main Street Self-Employed Individuals Need a Wall Street Strategy?
Dec 2, 2020
As Wall Street pushes higher, a pandemic-weary Main Street is relearning how to manage cash flow with the hope of keeping its retirement dreams alive – and for those self-employed, this is paramount.
Self-employed Americans, and the people working for them, account for roughly 30 percent of the nation’s workforce.1
In the best of times, putting aside money for retirement was a challenge for this group. (more…)
Tags: Certified Financial Planner Charlotte NC, financial advisor charlotte nc, Financial Planning, Investing, Personal Finance, retirement, Retirement Planning, Retirement Tax Savings, Tax Advantages, Tax Planning
Managing Money as a Couple
Nov 30, 2020
When you marry or simply share a household with someone, your financial life changes—and your approach to managing your money may change as well. The good news is that it is usually not so difficult. (more…)
Tags: Certified Financial Planner Charlotte NC, Family Wealth, financial advisor charlotte nc, Investment Planning, Personal Finance, Retirement Planning, Tax Planning, Wealth Building
More Insights
Jul 22, 2021
The news keeps getting better for Social Security recipients. It’s now projected that benefits will increase 6.1% in 2022, up from the 4.7% forecast just two months ago. That would be the most significant increase since 1983.1,2
Jul 21, 2021
Inheriting wealth can be a burden and a blessing. Even if you have an inclination that a family member may remember you in their last will and testament, there are many facets to the process of inheritance that you may not have considered. Here are some things you may want to keep in mind if … Continue reading “Coping with an Inheritance”
Jul 19, 2021
It’s long been an aspirational target for entrepreneurs. It literally goes beyond “blue sky,” in terms of location, to a place no business has gone before: Outer Space! The name of the game is commercial space travel.
Jul 16, 2021
With all the attention given to inflation, stock prices, and job reports, it’s been easy to overlook the remarkable move in the bond market during the past few months as bond yields have fallen. The yield on the 10-year treasury closed at 1.37% on Friday, July 9, down from its 2021 high of 1.74% in … Continue reading “The Quiet Fall in Bond Yields”
Jul 14, 2021
On July 6, oil prices reached a six-year high of $76.98 a barrel. This benchmark came as the Organization of the Petroleum Exporting Countries (OPEC) and allies failed to reach an agreement regarding an increase in production.1 This rise in cost follows a year in which OPEC and allies cut production amidst the COVID-19 pandemic. … Continue reading “Oil Prices Hit Six-Year High”
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