Blog

What if you understand your own shortcomings, but have no idea what changes to make? There’s an app for that, so to speak. Working with a qualified, fee-only, Certified Financial Planner®, you can establish new goals, chart a new course, and improve your chances for success.

Is it me, or does April 15th seem to come around too quickly? There is some good news this tax season, however, in that many fewer Americans are itemizing deductions since implementation of the Tax Cut and Jobs Act of 2017 (TCJA).

While championed by the annuity industry, the SECURE Act includes many changes to non-annuity forms of retirement accounts. Details of the Act are being continuously updated and published, but we will being to outline them in this blog.

There are many reasons to consider using a Roth IRA. Some people make too much money to deduct a Traditional IRA, but others (in low tax brackets) also favor using the Roth IRA. Investors just starting to save money may realize that a Roth IRA can be used for a variety of beneficial pre-retirement financial transactions not available using the Traditional IRA.

Every year we like to review our last year’s Congressional Financial Wish List, both to see what actually happened since last year, as well as to see what could be improved next year.

The Tax Cuts and Jobs Act of 2017, or TCJA, passed and was signed into law, then took effect for tax years beginning January 1, 2018. Tax Returns for that year were due on April 15, 2019, and offered automatic extensions until October 15, 2019, for those who needed more time. Those dates have passed, returns have been filed, and results are in.

We frequently hear phrases such as, “I put my kid’s name on the house,” or “I want to give my home to my kids to keep it in the family.” Hearing things like that makes us cringe. Most often, it is the exact wrong thing to do.

Despite a robust economy, many people are feeling a pinch in their living standard. As prices rise steadily over time, wages (especially after-tax) haven’t risen with the same determination. Inflation is winning, and Americans are losing.

This week, rather than a traditional blog post, I thought we’d share a correspondence sent to our clients and friends this week. The topics include RMDs, QCDs, and other items that are timely and important.