You can’t predict the political future but you can plan for it! Here are some estate planning ideas for consideration based on uncertainty as to what proposed income tax law changes might be in 2021 and beyond. Keep in mind that due to fluctuating political winds there are also proposals on the table related to
Are You A Financial Procrastinator In Search Of Investment Perfection
Time waiting for the perfect portfolio can cost you……. Searching for the ideal set of circumstances (which never seem to materialize) can prevent you from doing the important investment planning that is necessary for your financial health. So can waiting for that promotion at work, or letting the tax tail wag the investment dog. Are
Rebalancing Your Pandemic Portfolio
Portfolio rebalancing according to your age and goals is really all about asset allocation. At different stages in your life your financial concerns shift, and so you look for your investment portfolio to shift too – from growth to income – as you get older. During these pandemic times, with market volatility, your risk tolerance
Will Crypto Be Your Kryptonite
A new Twitter poll finds that 72% of bitcoin investors are bullish about the cryptocurrency and will hold onto it even if the price somehow falls to zero. Cryptocurrencies like Bitcoin and Ethereum are no longer considered “niche” or experimental, but are now widely developed and accepted alternatives to traditional currency. Many large companies are
Your 2020 Tax Refund Checklist
Whether it’s a big amount or just a drop in the bucket, be smart with your refund. After all it is YOUR money, not a bonus check from the IRS. Don’t blow it on some impulsive splurge. If you’re wise, you can put it to work for you and improve your financial situation. Treat your
Best Way To Repay Your 401k
Rule #1 – don’t panic! Develop a repayment plan for your 401(k). If you tapped your 401(k) due to the pandemic, even if you are not ready to replace the funds, it’s not a bad idea to start to develop a plan to get back on track and saving again. Folks who took a coronavirus-related
Think Twice Before Making Interest Free Loans To Loved Ones
These pandemic times have hit many family members hard. We all want to be generous to our kids and grandkids who are out of work, be helpful to that brother or sister that got the virus, and financially support our elderly parents in quarantine for their safety, BUT most folks do not realize what is
Does Digital Summer Camp Count For Tax Benefits
Are you considering virtual day camp this Summer for your kids to keep them safe in these Coronavirus times and wondering if it is eligible for the Child and Dependent Care Tax Credits? You are not alone! Continuing to stay home to care for children who aren’t in school or camp may simply be impossible, especially
Selling Art May Get You A Brush With Taxes
Financial hardship has been another consequence of the Coronavirus pandemic. The latest market swings have impacted many portfolios, as has loss of employment, or business losses and closings. This state of economic affairs has prompted many to look at their saleable assets in order to raise cash. Tough times require tough measures, but as accountants
10 Dollar Dos And Do Nots During This Pandemic Period
It is hard for individual investors to stay focused on long term goals when in the current financial environment jobs are disappearing, businesses are failing, legislators lack leadership, markets are volatile, and retirement balances shrinking. Here’s a few practical tips how to proceed in pandemic times: 1. Don’t panic sell stocks, have patience, take advantage
