Kevin Oleszewski, Senior Wealth Planner ‘Tis the season to give. In fact, 37% of charitable giving occurs during the last quarter of the year — 20% of it in December alone, according to a survey conducted by the Blackbaud Institute. And while the holidays are traditionally a time to reflect …
Have you thought about your legacy? We highly recommend that you appoint a trusted family member or friend as your power of attorney (POA), giving them the ability to help with your financial or health needs, should an unfortunate event occur in your life.
When thinking about money – do you feel stressed, tense, controlling, confused, like you have an abundance of it or a lack thereof? If you relate to any of these questions, you have an unhealthy relationship with your money.
Clients frequently ask whether they should leave their assets in a trust. It depends. Of course, if your net worth exceeds $11 million, putting your assets in specific types of trusts can be helpful for federal estate tax issues. However, for most Americans, federal estate taxes will not be …
For most students, experts say it remains financially worth it to go to college, despite rising tuition and opportunity costs in relation to increasing wages for workers holding only a high school diploma. The average rate of return (net gain or loss on college investment across a career) is 14%.
But when the SECURE Act goes into effect – expected on Jan. 1, 2020 – beneficiaries will have to fully distribute taxable accounts within 10 years of the account holder’s death. That could push your loved ones into a higher tax bracket.
As you move toward retirement, you can’t be content just to accumulate assets. You need to develop a retirement income plan that can help guide you when it comes time to turn savings into sustainable retirement income.
As you reflect on the past year in preparation to meet with your accountant, consider these loopholes that may help you dodge the taxman.
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