How the Tax Reforms Will Take Effect Some of the impact of the Tax Cuts & Jobs Act will be felt later than January 1. President Donald Trump signed the Tax Cuts & Jobs Act into law on December 22, and on January 1, some key details of the Internal Revenue Code will abruptly change.1 There will be night-and-day change, both figuratively and literally. On January 1, the federal estate tax exemption will double; the standard federal income tax [...]
Now 64? Prepare to Sign Up for Medicare. This is the time to arrange lifelong health coverage. Age 64 is the age when you are reminded that you are a baby boomer growing older. Regardless of how young or old you feel at 64, you should make sure to sign up for Medicare. The sign-up period will be here before you know it. In fact, you might already be within it, so act quickly if you are. Medicare gives you [...]
Comprehensive Financial Planning: What It Is, Why It Matters Your approach to building wealth should be built around your goals & values. Just what is comprehensive financial planning? As you invest and save for retirement, you may hear or read about it – but what does that phrase really mean? Just what does comprehensive financial planning entail, and why do knowledgeable investors request this kind of approach? While the phrase may seem ambiguous to some, it can be simply [...]
Your 2018 Financial To-Do List Things you can do for your future as the year unfolds. What financial, business, or life priorities do you need to address for 2018? Now is a good time to think about the investing, saving, or budgeting methods you could employ toward specific objectives, from building your retirement fund to lowering your taxes. You have plenty of options. Here are a few that might prove convenient: Can you contribute more to your retirement plans this [...]
Year-End Charitable Gifting What should you keep in mind as you donate? Are you making charitable donations this holiday season? If so, you should know about some of the financial “fine print” involved, as the right moves could potentially bring more of a benefit to the charity and to you. To deduct charitable donations, you must itemize them on I.R.S. Schedule A. So, you need to document each donation you make. Ideally, the charity uses a form it has [...]