Many of our clients have expressed concern about the recent rise in identity thefts. If you’re concerned, here are some steps you can take to help defend yourself. Don’t trash it; shred it. Shred anything financial, aside from your tax records: credit card statements, bank statements, old checks, deposit slips—you name it. A cagy thief can borrow thousands of dollars …
With our upcoming SHRED & POPSICKLE DAY (April 29th – see announcement) planned for after tax season, I’m sure the question will come up “how long should I keep my records for?” Well, the IRS, as well as others have opinions on that, so we have compiled a few links and documents for you to read on how long you should …
Here is our {basic} supporting documents list to help you remember what to find and bring with you while gathering everything for your 2016 taxes. However, if you have any questions of course, don’t hesitate to call us… 2016 Tax Prep Information
Some major indices retreat after the news, but others advance. News of Donald Trump’s election victory did not upend the equities markets. As word of his largely unexpected Electoral College win traveled around the world, most major indices did not suffer alarming losses. While the Nikkei 225 sank 5.36% overnight, the Shanghai Composite slipped 0.62%, the Sensex 1.23%, and …
For most companies, defined benefit pension plans are no longer in existence. Instead, they’ve rolled over some of that lost benefit to employees by increasing matching contributions on defined contribution plans, known mostly as 401(k) plans. Therefore, employees are learning that to retire comfortably without a pension plan benefit, they must max out their allowed 401(k) contributions – up to …
As an advisor, how involved are you with your client’s taxation issues, such as the actual management of their yearly tax-efficient investment trades or their retirement savings? If you are highly involved, you might be helping your clients make good investment-related decisions. However, you could also be setting them up for a double-taxation possibility. One of the highest risk areas …
“Retirement income planning” is lingo used in the financial industry to help clients determine their retirement possibilities. It is uttered by most advisors/brokers/insurance salesmen as a general offering, even when very few actually have the needed knowledge. Unfortunately, I’ve found that retirement income planning is rarely done properly across the broad industry, with more bad advice given than good. My …
All you have to do is Google the phrase “When is the best age to take Social Security?” and you’ll get endless advice from people all over on the perfect timing for taking Social Security. Even though not one single advice-giver knows anything about you! As a financial advisor who plans for people every day, it isn’t really that easy …
Reality is defined as the world or the state of things as they actually exist. With that being said, it somewhat amazes if not saddens me that the average investor has little to no clue about the reality of investment returns, risk or retirement needs. As a prime example, I happened upon the Natixis Asset Management Investor Survey conducted by …
Yes, it’s tax filing season again, already! And again for this year, we had some tax laws extended by Congress through 2016 or 2019, but some were actually made permanent. So for the context of this article, we’ll discuss only those changes affecting your individual clients. Summary of Individual Tax Provisions Made Permanent Charitable giving incentives: Taxpayers are …
