Am I Ready to Buy a New House?
Many people believe that buying a home is essential. It has been known to be part of the American dream. Owning a home is a big decision, as it usually is a very costly decision. Some people like to point out that buying a home is a great “investment”. Contrary to this belief if you […]
2017 Tax Planning & Trump Implications
With a Republican president-elect and GOP control remaining in both the House and Senate, there is plenty of talk about significant tax reform. However, it’s difficult to plan for something that’s uncertain as there are several tax plans being considered in Washington. In this letter we will focus on tried and true strategies that work […]
I’m retiring! What should I do with my retirement plan assets?
Key fact: According to the Pew Research Center, beginning on Jan. 1, 2011, the oldest members of the Baby Boom generation turned 65 years old. On that day and for every day for the next 19 years, 10,000 baby boomers will reach age 65. Age 65 is the most common age associated with retirement. Baby […]
Medical Sharing- Healthcare Sharing Ministries
Over the past several years, millions of individuals and families have lost their healthcare insurance because their plans did not meet the standards required by the Affordable Care Act, also known as Obamacare. Others have found the health insurance plans available to them are unaffordable, and some object to participating in Obamacare on moral grounds. […]
Health Savings Accounts: What are they and should you have one?
Health Savings Accounts (“HSA”) first appeared in 2004 to help individuals save for current and future healthcare costs. Since then, HSA eligible insurance plans have been one of the fastest growing insurance plans offered as companies and individuals look for ways to reduce the burden of rising health care costs. The number of HSAs has […]
Cash Savings – How much do I need?
What is the appropriate amount of cash to keep on hand in a savings account? It’s a question we are asked frequently and one that is important for everyone. Part of the reason that the question is so prevalent is because there is no perfect solution. Everyone’s situation is unique and the right amount of […]
Robo-Advisors: A Growing Trend in the Financial Industry
A robo-advisor is “an online wealth management service that provides automated, algorithm-based portfolio management without the use of human financial planners.” – Investopedia.com Robo-advising has become not only a hot-topic in the financial industry, but a big business. Over the past few years, many of the largest players in the financial industry have spent money […]
IRA Charitable Distributions Made Permanent
The Protecting Americans from Tax Hikes Act (“Path Act”), which was enacted into law on December 18, 2015, made permanent the tax provision that allows individuals age 70½ and older to distribute up to $100,000 in a given taxable year from their individual retirement accounts (“IRA”) to charities and have the amount so distributed excluded […]
What is an 83(b) Election?
Section 83(b) and § 1.83-2(a) permit the service provider to elect to include in gross income the excess (if any) of the fair market value of the property at the time of transfer over the amount (if any) paid for the property, as compensation for services. -IRS.gov An 83(b) election can be a very beneficial and […]
How Should I Save For College?
If you are trying to save for your child’s education, you will find an array of investment vehicles available to you today. To determine which vehicle is best for you, you must consider the different features of each option. Two of those options, the Coverdell Education Savings Accounts (“ESA”) and the state-based 529 Plans are […]