Benevolence does not have to come at the expense of tax savings. LET’S BE CLEAR: CHARITABLE GIVING IS A STANDALONE ACT WHOSE VALUE IS TO BENEFIT OTHERS. But for high-net-worth individuals, it is not conflicting to point out tax considerations when making charitable contributions. The considerations are not to deter giving; rather, they are to
You have a variety of options when pursuing an investment portfolio. First-time investors often find the process intimidating. and let’s be honest: even those with an extensive portfolio may still not quite understand the complexities associated with investment risk strategies, rebalancing, and other investment terms. With that in mind, we offer you a primer on
Whatever your reason for giving, think of different ways you can have an impact on the causes you care about. If you plan to itemize deductions on your federal tax return, charitable donations can be an effective way to lower your overall tax bill. But even when there’s no tax benefit, donating money or volunteering
RUNNING A SMALL BUSINESS CARRIES WITH IT UNIQUE FINANCIAL PLANNING CHALLENGES, WITH MONEY CONCERNS AN ONGOING BURDEN FOR THOSE WHO WORK FOR THEMSELVES. After all, unlike salaried jobs where income is predictable, small business owners are often the last to get paid and the only one paying the bills. While there’s no magic formula to
Healthcare is expensive. no kidding, right. and no matter whether yours is bronze, silver, gold, or even platinum, healthcare plans are expensive, not to mention out- of pocket medical expenses, such as copays, deductibles, and costs that are simply not reimbursed. There’s a way to potentially save money on your total annual healthcare costs. Health
There is an early retirement movement going on: financial independence, retire early (fire), an effort among millennials in particular to save aggressively in order to retire early or pursue other career or hobby interests. The FIRE movement is a recent phenomenon, starting less than a decade ago among millennials and spreading through social media channels.
April is Financial Literacy Month, a time to raise awareness about the need for financial education. April 2021 marks the 19th annual Financial Literacy Month, a nationwide effort to raise awareness about the importance of financial literacy and the need for substantive financial education. Historical Background The holiday got its start in 2000 as Youth
Tips for organizing your estate to preserve your assets for your designated beneficiaries. Estate planning is not an exercise relegated to the wealthy alone. Indeed, anyone who wants to plan for the distribution of their assets or exercise of your responsibilities after you die or become incapacitated should pursue estate planning. And for those who
There are tax-free limits on what you can gift in a year and during your lifetime. While it may feel better to give than to receive, the former may carry federal tax consequences, which dampens the cheer associated with bestowing a financial gift to a loved one or friend. But not all financial gifts incur
A volatile year in the financial markets can create opportunities for reducing your taxable income. Many investors use the closing months of the year to review their portfolios and assess their winning and losing investments. It’s also a good time to do tax planning for the upcoming filing season; decisions you make before year-end can