The holiday season often inspires generosity, making it a perfect time to give meaningful gifts to loved ones. While sharing your wealth can bring joy, it’s essential to be mindful of federal gift tax rules. Properly planning your gifts not only ensures compliance with tax laws but can also serve as a strategic way to [...]
The holiday season is a time for gathering with loved ones, reflecting on the past year, and planning for the future. It’s also an ideal opportunity to discuss important topics like estate planning. While these conversations may not feel festive, they are one of the greatest gifts you can give to your family—providing clarity, reducing [...]
As the end of the year approaches, it’s crucial for business owners to review their financial plans and make strategic adjustments to maximize tax savings and retirement contributions. Taking time for year-end planning can help reduce your tax liability and set a solid foundation for the new year. Here are some valuable tips to consider: [...]
As the year comes to a close, it’s the perfect time to evaluate your retirement contributions and make strategic financial decisions that could benefit your future. Contributing to an IRA or Roth IRA can provide tax advantages, but each account offers unique benefits based on your financial goals, tax situation, and future income expectations. Understanding [...]
As the year winds down, many people wait until the last minute to begin thinking about tax season. However, early preparation is crucial to ensuring a smooth and stress-free process. Whether you’ve experienced a major life event or simply want to avoid the rush, starting your tax preparations now gives you ample time to make [...]
The decision to retire is a significant milestone, and for many, the age at which they leave the workforce varies based on numerous factors. Some individuals choose to work past the full retirement age to increase their Social Security benefits, while others retire early due to personal reasons such as health or lifestyle changes. Regardless [...]
Required Minimum Distributions (RMDs) are a critical aspect of retirement planning, but they can also be a source of confusion and costly mistakes. To help protect your retirement savings, it’s important to understand the most common RMD mistakes and how to avoid them. Here are seven key pitfalls to watch out for: 1. Ignoring the [...]
The Social Security cost-of-living adjustment (COLA) for 2025 is projected to be 2.6%, a modest increase that reflects current inflation trends. While this adjustment aims to help beneficiaries keep pace with rising costs, it’s important to understand how it will affect retirement income and whether it aligns with financial needs. The estimated 2.6% COLA for [...]
Mark-Et Minute 8/20/2024 Year to Date Market Indices as of August 20th, 2024 • Dow 40,834 (8.32%) • S&P 5,597 (17.35%) • NASDAQ 17,816 (18.79%) • OIL $73.82 (3.49%) • Barclay Bond Aggregate (1.26%) • Gold $2,552(23.21%) [...]
Calm financial markets often bring a sense of relief to investors, but they can also be a source of confusion and concern. When the markets are steady, it may seem like there’s less opportunity for growth, or it might signal a period of stagnation. Understanding what calm markets mean and how to navigate them can [...]