Investors are not one-size-fits all. Every investor has different psychological reasoning behind their decisions and comfort level with risk. While there is endless research surrounding the...
Should I pay off my mortgage early?
A home mortgage is one of the most substantial debts that individuals carry. It can be tempting to pay off your mortgage early if you have the funds available, which can lead many individuals to...
What is the difference between revocable and irrevocable trusts?
In the past, we have written Q&As on how to set up your assets to pass efficiently to your heirs as well as on probate avoidance. Choosing whether to transfer any of your assets into trusts is...
Can I make a tax-deductible Traditional IRA contribution?
A Traditional IRA serves as a valuable tool for individuals seeking to save for retirement while deferring taxes. Nevertheless, several factors come into play when assessing eligibility for...
What are the annual contribution limits for 529 Plans and what is superfunding?
It’s no secret that the cost of education is on the rise. The key to preparing for this large but important expense, is to develop a savings strategy early on. 529 College Savings Plans are...
How are my capital gains taxed?
Tax returns are complicated. To add to their complexity, investment income generated by your investment assets may be taxed differently than your other sources of income. Investment income includes...
What is a donor-advised fund and how can I use one while bunching charitable contributions?
Bunching charitable contributions is a potential strategic option to lower your tax bill. Bunching contributions involves making multiple years’ worth of charitable contributions in a single year....
What IRS services are available online?
As part of the Inflation Reduction Act passed by Congress in August 2022, the Internal Revenue Service (“IRS”) recently released its plan for the nearly $80 billion in additional agency funding. A...
Wealth Management Q&As
Wealth Management is more than investment management. It considers the larger picture. While your investments are critical to your success throughout retirement, it is also important to understand how your taxes, finanical plan, estate, and insurance can affect both your overall situation. Do you know when you should begin collecting social security to maximize its benefit? Have you followed the necessary steps to help your assets pass efficiently to your heirs, avoiding probate? If 529 plans are applicable to you, have you considered 529 plan superfunding or how to maximize 529 plan tax advantages? Our wealth management Q&As consist of popular topics among our clients and are not limited to investment management.