How much money do you need to retire? It’s a familiar question with an unsatisfying answer: it’s complicated. It depends on how much you’ve socked away, how much income you’ll have coming in, how much you plan on spending and how long you live. There’s no one size fits all, it’s unique to you. To…
Two tax bills enter, one tax bill leaves. The House and Senate have both passed differing versions of a new tax bill. Now the bills go to committee in an attempt to reconcile the differences. Both versions involve increasing the standard deduction, reducing personal income tax rates, and removing many itemized deductions. Both bills also…
Many people dream of receiving a sudden financial windfall. Wouldn’t it be great to win the lottery or get an unexpected inheritance? But when someone you love dies and leaves you with a large amount of money, the experience is usually much different than expected—especially if the loved one is your spouse.
Now that we’ve started the new year, this is a great time to take a fresh look at your financial picture and update things that may be stale or outdated. To help you do that, here are eight ways to improve your financial health in 2017.
Recently, while meeting with a prospective client, I was asked what value comprehensive financial planning adds to the wealth management process. It’s a good question—and a common one.
With tax-filing season behind us, I’ve heard a lot of people express disappointment in the way their taxes were done. The complaints are not only from clients – tax preparers are also feeling frustrated with the process.
It’s the middle of April, and the 2015 NFL draft is quickly approaching.
This means aspiring professional football players have made their way to the NFL scouting combine, where talent evaluators have scrutinized their speed, strength, and agility. General managers and coaches are looking at both their existing rosters and the young players hoping to fulfill a lifelong dream by being drafted into the NFL.
At this time of year, many families with college bound children are busy navigating the financial aid application process. A college education, long viewed as a pathway to the American Dream, remains a desirable goal for many, with some studies indicating as much as a 75% increase in earning power over the course of a career through the attainment of a degree. However, the soaring costs of higher education in recent decades have even middle-to-high income families wondering how best to fund this endeavor without jeopardizing their retirement or leaving their children saddled with huge debt. Finding the most efficient and beneficial path involves an understanding of both financial aid eligibility, as administered through the relevant government regulations and University policies, and the savings vehicles and strategies available to consumers.
Your wedding is approaching, and you’re getting excited. You and your future spouse have talked about where you want to live, how many kids you want to have, and what kind of lifestyle you’d like to enjoy. But have you discussed your financial health? Numerous surveys have shown that money is one of the main…
Governor Martin O’Malley recently signed a new law that will reduce the sting of estate taxes over the next several years for Maryland residents. So how does the Maryland tax compare with the federal version? As defined by the IRS, “The Estate Tax is a tax on your right to transfer property at your death.” The federal government imposes a tax on taxable estates in excess of $5.34 million (the individual federal exemption amount, which increases for inflation annually). Maryland currently imposes an estate tax on taxable estates in excess of $1 million (the state exemption amount).