President Trump’s Tax Plan Unveiled
President Donald Trump and his administration have released their proposed tax plan. The plan, which was released earlier this year on April 26th, was announced by Treasury Secretary Steven Mnuchin and National Economic Council Director Gary Cohn and states the following four goals: 1. Grow the economy and create millions of jobs2. Simplify the burdensome […]
Will Your Medicare Premium Be Increasing?
Medicare is the federal health insurance program for people aged 65 and older. It is also available to certain younger people with disabilities and those with End-Stage Renal Disease (permanent kidney failure requiring dialysis or a transplant). Medicare consists of 4 parts: • Part A – Hospital Insurance• Part B – Medical Insurance• Part C […]
Department of Labor – Fiduciary Rule
The Department of Labor Fiduciary Rule In 2016 the Department of Labor released its final rule amending the definition of a fiduciary on retirement accounts. This proposal, often called the “Conflict of Interest Rule” or “Fiduciary Rule,” requires all financial professionals who work with retirement plans or provide retirement planning advice to act as a […]
IRA Rules for RMDs & Other Withdrawals
You have spent years accumulating assets in your IRA. If you contributed to a traditional IRA, you took a tax benefit during the year you made the contribution(s) by deducting this amount on your tax return. Your earnings can potentially grow tax-deferred until you withdraw the money. If you contributed to a Roth IRA, you […]
Year-End Tax Planning
As 2016 comes to a close, it is a good time to focus on your year-end tax planning. Whether you are having a good year or rebounding from recent losses, you may be able to save some money on your taxes if you make the right moves before the end of the year. Three moves […]
Trump’d
What happened? Last night Donald Trump won a surprise victory in the US presidential election. The victory initially shocked global markets, which had been pricing in the likelihood of a Clinton victory. The initial reaction was heavy selling in overnight markets. At one point, S&P 500 future were down -5%, the downside limit in overnight […]
Estate Planning: Trusts
Organizing what happens to your estate in the event you or your loved one passes away is often a difficult subject to broach, albeit very important. In addition to the subject matter being daunting, there is often a lack of understanding of the financial burden that may follow. We think it’s important to educate our […]
Estate Planning: Trusts
Organizing what happens to your estate in the event you or your loved one passes away is often a difficult subject to broach, albeit very important. In addition to the subject matter being daunting, there is often a lack of understanding of the financial burden that may follow. We think it’s important to educate our […]
College Planning
College Planning The cost of receiving a college education continues to rise. For the 2015-2016 school year, the average cost for tuition and fees (does not include room & board) for one year at a private college was $32,405, in-state residents at a public college was $9,410, and out-of-state residents at a public college was […]
“Brexit” Fallout
Markets were caught leaning the wrong way Thursday night when the UK referendum on whether to stay in or leave the European Union (EU) went in favor of the “Brexit” (i.e. – leave) camp by a 52% – 48% margin of victory. In the week leading up to the vote, several respectable polls had come […]