Articles

Using your 401(k) plan to save this year and next

Date12 Nov 2019

You can reduce taxes and save for retirement by contributing to a tax-advantaged retirement plan. If your employer offers a 401(k) or Roth 401(k) plan, contributing to it is a taxwise way to build a nest egg. If you’re not already contributing the maximum allowed, consider increasing your contribution rate...

IRA charitable donations are an alternative to taxable required distributions

Date04 Nov 2019

Are you charitably minded and have a significant amount of money in an IRA? If you’re age 70½ or older, and don’t need the money from required minimum distributions, you may benefit by giving these amounts to charity. IRA distribution basics A popular way to transfer IRA assets to charity...

Don’t worry! A broken trust can be fixed

Date28 Oct 2019

There are good reasons why estate planning advisors recommend you revisit and, if necessary, revise your estate plan periodically: changing circumstances, including family situations and new tax laws. While it’s relatively simple to change a beneficiary, what if an irrevocable trust no longer serves your purposes? Depending on applicable state...

Selling securities by year end? Avoid the wash sale rule

Date22 Oct 2019

If you’re planning to sell assets at a loss to offset gains that have been realized during the year, it’s important to be aware of the “wash sale” rule. How the rule works Under this rule, if you sell stock or securities for a loss and buy substantially identical stock...

Consider all the tax consequences before making gifts to loved ones

Date16 Oct 2019

Many people choose to pass assets to the next generation during life, whether to reduce the size of their taxable estate, to help out family members or simply to see their loved ones enjoy the gifts. If you’re considering lifetime gifts, be aware that which assets you give can produce...

Analysis: Finding the best value in Chick-fil-A and Starbucks Reward Apps

Date27 Sep 2019

As your trusted business advisors I feel that it is our job to keep you updated on the latest financial analysis and provide some easy to read tools to help you with your financial planning needs. We strive to do this on a daily basis, and as such I would...