As the year winds down, it is always a good idea to review your tax situation to determine if there are ways to reduce your tax liability or take advantage of financial planning opportunities that may exist. Here are several items that may warrant consideration prior to the end of the year.
Read MoreThe current tax code is set to expire in 2026. The article shows what has happened with tax rates since 2016 and what is scheduled to happen going forward until 2030. There are some notable changes beginning in 2026.
Read MoreYou can definitely make a difference is with your grandchildren’s personal financial education. Teaching kids early will build a lifetime of good financial habits. How can we help them develop good financial habits? By taking advantage of the fact that they really are already watching and learning from what we do and say.
Read MoreThe SECURE Act 2.0 altered the onset of Required Minimum Distributions (RMDs) from age 72 to age 73. However, the law made no change to the Qualified Charitable Distribution (QCD) rules. So, while a RMD is not required until age 73, a taxpayer over age 70 ½ is allowed to distribute directly from their IRA to their favorite charity and avoid taxation.
Read MoreThrough hard work and sound financial planning, some find themselves in situations in which they are contemplating intra-family financial planning. That is, identifying financial planning techniques that can be used to financially strengthen the next generation—children and grandchildren.
Read MoreIf you are over age 70.5, you are eligible to make a qualified charitable distribution (QCD). By doing so, you can benefit your favorite charities, while excluding up to $100,000 annually from your gross income.
Read MoreIn this web presentation, Erin Campbell, CPA/PFS, CFP® discusses various tax saving strategies to consider. Among them, she discusses tax-loss and investment gain "harvesting," qualified charitable deductions (QCDs), donor advised funds and Roth IRA conversions.
Read MoreIn this webinar, Beacon Financial Strategies’ Certified Financial Planner Professionals discuss a number of charitable gifting techniques.
Read MoreThis article provides insight into a number of strategies and methods for making charitable gifts.
Read MoreMany financial planning objectives can be accomplished through the utilization of trusts. Here are several of the most common types of trusts and a brief overview of their purpose…
Read MoreThe Consolidated Appropriations Act (CAA) offers many tax provisions to assist in the ongoing economic crisis. Many of the provisions affect not only the 2020 tax return but into future years as well.
Read MoreScam artists are always looking for new ways to prey on consumers. Now they are using the same tactics to take advantage of consumers' heightened financial and health concerns over the coronavirus pandemic. Here are some of the more prevalent coronavirus scams that consumers need to watch out for.
Read MoreThis web presentation explains the benefits, advantages and key attributes of donor advised funds.
Read More2020 is turning out to be quite different from what many of us had planned on back in January. Not only are there changes in our day to day life, there are changes that could impact your financial life and what you had originally planned on doing this year. One of those changes relates to charitable gifting.
Read MoreIn our previous article, we provided some insight and listed the benefits of utilizing donor advised funds as a component of a charitable gifting strategy. As a follow up, we wanted to provide some information that could be helpful when vetting custodians who offer donor advised funds.
Read MoreWith the new tax law, bunching charitable donations may make sense. Donor advised funds can be a great tool in your charitable gifting strategy. This article discusses attributes and unique features of donor advised funds.
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