I have been a financial advisor for more than 30 years. During that time, I have worked with clients who have prepared their own taxes, those who work with CPAs I have never spoken to or worked with, and those who work with CPAs with whom I have a professional relationship. My preference is to…
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We recently wrote a blog post offering concrete steps to protect yourself from identity theft. (See “What to do about the Equifax Hack.”) But what about those in your care? How do you protect your minor children? While it’s unlikely that your children were affected by the Equifax breach, it’s possible that their identities have…
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I was at a funeral recently for a friend’s mother and sat next to a man who was the surviving spouse’s oldest friend. He was 85 years old, and had been friends with the husband for more than 70 years. He told me that his wife died about eight years ago, and after spending six…
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On December 22, 2017, the president signed and put into law the Tax Cuts and Jobs Act (TCJA). While much more legislation will be required on both the federal and state levels to clarify and correct the new rules, here’s what we know right now… New lower federal payroll withholding tables will go into effect…
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After a solid third quarter, investors began to wonder just how long the market could run without a healthy pullback. But those bracing for a market correction got caught flat footed as markets found a way to keep powering ahead in the fourth quarter. Domestic equity markets surged in anticipation of tax relief, emerging markets…
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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…
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It’s getting to be that time of year when we start thinking about family and holiday traditions and the pressure to finish projects before the year ends. In an effort to help you check things off your list ahead of schedule, here’s a handy checklist of items to consider: Open a Roth or Traditional IRA…
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The third quarter of 2017 was highlighted by unfavorable seasonal effects and a steady stream of nerve wracking geopolitical developments, but despite a challenging environment world equity markets persistently fought off short-term jitters and closed out the quarter solidly in the green. Commodities markets also bounced back in the third quarter, and fixed income found…
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As financial advisors, we recognize that the outcomes on an income tax return are the culmination of many occurrences and decisions. Tax efficiency is a vital part of a financial plan at every stage, and so we approach tax planning as both a year-round and lifelong process. With that in mind, here are five areas…
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As you have probably seen reported across the media, hackers infiltrated prominent credit reporting agency Equifax and stole the private information of over 143 million Americans. While it will be interesting to see how all this came to be, the big question is, “What should those affected do?” Your first (and best) option is to…
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