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In a sure sign of the times, Americans are concentrating on improving their personal finances in 2024. According to a recent Allianz Life study, recent financial difficulties have caused Americans to rethink their own situations. Unfortunately, the conditions that caused our difficulties also hinders relief. On top of already astronomical prices for necessities, inflation (while […]

With only 9 trading sessions left (as I write this), 2023 appears to be ending on a financial high note. The Dow-Jones Industrial Average (DJIA) closed last week with three consecutive new all-time highs. Meanwhile, the S&P500 Index also reached a new high, this one on a total-return basis, which includes dividends throughout the year. […]

Insatiable governments are constantly searching for new sources of revenue, and the 118th Congress is no different. Sticking to the mantra of “tax the rich,” a handful of elected officials are constantly seeking new and creative ways to separate successful people from more of their assets. Unable to satisfy their spending appetites with a large […]

Once again, I am driven to perform my annual exercise in futility by itemizing my Wish List from the current (118th) Congress, which meets from October 1, 2023, through the end of 2024. As always, there are many unresolved tax questions, expired (but important) tax provisions, and inconsistencies within the rules for Qualified Retirement Accounts. […]

Most Americans have only a cursory understanding of the personal income tax portion of the U.S. Tax Code, and are content to pass along their required annual Tax Return preparation to a paid professional, or even to a computer program. While we encourage the use of tax professionals (Note: we are not tax preparers), the […]

Americans everywhere are being bombarded with welcome news regarding falling inflation. We are of course pleased with the news, but at the same time, we are appalled at the misreporting of the true meaning of that news. As usual, much of the erroneous slant on the news is intentional, attempting to convince Americans that prices […]

Our Government has long been inconsistent in applying Cost of Living Adjustments (COLAs) for taxpayers. We have been disappointed when inflation adjustments are applied unequally among aspects of our individual financial lives. In practice, every year brings more inconsistencies, and American Taxpayers seem always to wind up on the losing side of the battle to […]

Support for American generosity is embedded in the U.S. Tax Code. Why, then, does the IRS make gifting rules so complex and difficult to follow? The rhetorical nature of that question does nothing to lessen the value of carefully following ever-changing terms and conditions for improving a taxpayer’s cash flow through gift-giving. In general, tax […]

Americans are truly the most generous people on the planet. During COVID-19, we slid to 19th place in world rankings but quickly recovered to a tie for first place with Myanmar (we learned it as Burma). Even American millennials have begun to establish patterns of generosity. For the record, we applaud their efforts. For many […]