In the real estate world the old adage for success is “location, location, location,” the mantra in the investment world is “diversify, diversify, diversify!” Because events are changing daily, it’s too soon to predict how the Coronavirus pandemic will change financial decision-making in the future, but it seems likely to serve as a reminder of
Big Market Declines Call For Tax Loss Harvesting Techniques
The black hole sucking the life out of the equity markets is mind-boggling. Over the last few weeks we have seen lows that have rivaled some of the biggest declines in modern times, and some astonishing (though short-lived) highs due to Coronavirus. Times like these call for a strategy named “tax loss harvesting,” which helps
Taxes And Capital Gains On Sale Of Family Home When Owner Passes
Dealing with the death of a loved one is difficult, and navigating the tangled web of estate tax, probate, and disposition of assets can be overwhelming. Many Fuoco Group and TFG clients have asked if they inherit a home do they qualify for the $250,000 / $500,000 home sale tax exclusion? The answer may be
Have A Buffer For When Bad Things Happen
A recent New York Times article laments that most families lack enough savings for emergencies. We all grew up hearing that it was good sense to “put something away for a rainy day.” Do you know how much that should be in reality? Some financial advisors say 6 weeks and some say 6 months! The
Probing Financial Questions To Properly Position Yourself In 2020
The return of the dreaded tax season is here. On the one hand we hate that Uncle Sam once again has his hand in our pocket, but on the other side of the coin, tax season is the perfect time to review what was done in the past and learn from mistakes – it is
Your Business Can Take Advantage Of SECURE Act Tax Credits
Retirement plans are one of the top benefits you can provide to your employees for their future and as a retention tool. Through the SECURE (Setting Every Community Up for Retirement Enhancement) Act, Congress just added new incentives and tax credits for businesses to offer a retirement plan to their employees, which will reduce the
Favorite Five Financial Resolutions for the New Year
Not feeling financially fit as you enter 2020? If you take it one step at a time, there’s a lot you can do to improve your financial health. 1. Learn what you’re spending. • Build and balance a budget, understand where all your money is going. Trim unnecessary fat. You may not realize how much
Retirement Planning and the SECURE Act
Could the name be any more awkward? The SECURE Act stands for “Setting Every Community Up for Retirement Enhancement” Act of 2019. The bill is designed to encourage retirement savings in various ways and to simplify administrative requirements in order to make it easier for employers to offer retirement plans. But experts say other tax
Significant Year End Deadlines For Investors
The end of the year is fast approaching and TFG Financial wants clients to be aware of some significant year-end deadlines. Required Minimum Distributions for Retirement Plans • Taxpayers who are over age 70 ½ are generally required to take distributions from their individual retirement accounts and workplace retirement plans by the end of 2019.
The Lowdown On Donor Advised Funds
The number of donor-advised fund accounts has tripled in the past four years and it is due to more than taxpayers responding to Tax Reform and “prefunding” their charitable giving. The number of donor-advised funds surged last year to more than 463,000 across community foundations, charities and commercially backed platforms. The funds can be used to
