Annuities are not short-term investment strategies, and will work best for those whose goals are long-term financial security, steady income stream during retirement, and principal preservation. After the Great Depression, folks worried that stock market volatility would threaten their retirement savings and so annuities became popular. Today, pension plans are less common so many retirees
Smart Social Security Filing Strategies
Financial Advisors and clients should discuss Social Security filing strategies as part of a coordinated approach to maximizing retirement income. Social Security is not as easy as you think, and a single mis-step can cost you! There are two thousand, seven hundred and twenty-eight rules in the Social Security Handbook covering provisions of the Social
Window Of Opportunity Closing For Opportunity Zones
The possibility of higher capital gains rates has fueled interest by investors in Qualified Opportunity Zone funds. Investment is incentivized by a deferral of capital gains that otherwise would be reported in the year they were realized. With the tax recognition deadline of December 31, 2026, still in place, taxpayers who wish to invest unrecognized
Don’t Miss Midyear Tax Planning Opportunities
Valuable tax planning opportunities exist if you anticipate potential tax changes and take advantage of what’s still available under the Tax Cuts and Jobs Act, CARES Act, and other tax provisions. The American Rescue Plan Act enacted earlier this year included changes that will affect 2021 tax returns and, if enacted, the proposed American Jobs
Perspectives and Perceptions of Women and Investing Part 2
The 2nd article in our series examines a question most folks ask when they begin to accumulate enough extra cash to warrant investing it: Should I try to do this myself? The short answer is, “it depends.” The long answer is a bit more complicated: “depending on how much cash we are talking about, as
American Rescue Plan Child Tax Credits Portal and Payments
The Child Tax Credit benefits working families by allowing them to claim a refundable credit per eligible child. Under the new American Rescue Plan Act, the amount you can claim has increased! Instead of $2,000 per child, you can now claim $3,600 per child for those 5 years and under, and $3,000 for children between
Nagging Nanny Taxes Not Going Away
These days the IRS is investigating all types of fraud and getting serious about slapping fines on offenders. The IRS is now investigating domestic employment – their efforts are no longer limited to financial technology companies and unreported cryptocurrency transactions, false unemployment compensation claims, and PPP Loan fraud. Lately there has been a significant trend
Gift and Trust Tax Strategies To Consider For 2021
This is an update to a prior article written before the election and a Biden Presidency solidified the possibility for tax reform in 2021 or 2022. Many clients already made large gifts in 2020 to take advantage of the historically high gift and generation-skipping transfer (GST) tax exemptions, concerned that these exemptions could be significantly
Rebalancing Portfolios Post Election And Post Pandemic
It is time for clients to revisit and rethink their investment portfolios. The post-pandemic period will create new opportunities, but the post-election climate has created new risks. This may call for a higher level of diversification for investors, as well as more frequent portfolio rebalancing and added defensive measures. Below find the suggestions we feel
New Investors Beware Tax Triggers
Just started investing this year? Learn how to recognize and handle potential tax triggers! Despite erratic markets, many young professionals started investing for the first time during the pandemic. Many of them did so quite successfully. If you’re a new investor, here are some scenarios and ways to meet an unexpected tax hit from the
