Congress and the President recently passed the biggest tax reform in over 30 years. The Tax Cuts and Jobs Act of 2017 aims to make the United States corporate tax rate more competitive and therefore increase corporate investment domestically. The bill also provides for individual tax breaks beginning in 2018, that will expire at the end of 2025. What Does This Mean For My Portfolio? Corporations will now be taxed…
Many people are aware of the benefits of a Roth IRA: you put your after-tax money into it, after 20 or 30 years when you retire, you pull all of the money out tax-free. This can be a big benefit when you consider the effect of compounding returns over time. There are other benefits such as that you may be in a lower tax bracket when you pay taxes…
Who is eligible for benefits? Social Security is a significant payroll tax as well as an important source of retirement income for many US and non-US citizens, alike. Workers pay into Social Security while they are working and receive the benefits when they retire. The size of Social Security benefits depends on your earnings history as well as when you begin to take benefits. But what if you are…
(Credit for this post goes to Rehberg Law Group. More information about Rehberg Law Group can be found at the bottom of this page.) “How can I clear up the confusion surrounding Medicare for myself or my parent(s)?” If that is your concern and with open enrollment right around the corner, retirees will be inundated with advertisements regarding their insurance options. This information can be conflicting and confusing. For many…
Our friends at Helsell Fetterman have prepared a 2017 Estate Planning Update which we are providing below. Helsell Fetterman is a local law firm located in Seattle, WA, whose Estate Planning and Probate group is headed by Laura Hoexter. Her group maintains expertise in many areas, including estate planning, trust administration, generation skipping transfers, and family business succession planning. Estate Tax Update Federal Estate Tax, Gift Tax and Generation-Skipping…
College is expensive. Being prepared and putting money aside in a qualified 529 college savings plan can help you get ready for the onslaught of expenses you and your child will face when your child is ready to leave home for the college experience. Our friends at American Funds have put together a summary list of qualified and non-qualified distributions from a college savings plan for college expenses, updated for…
Currently, one of the nation’s biggest banks, Wells Fargo, is in the middle of a serious scandal. The company fraudulently opened extra customer accounts without their consent or knowledge in order to boost revenue. (Click here to read story) Prior to the latest news, Wells Fargo was considered to be one of the darlings of Wall Street. Warren Buffett, a major stakeholder, loved to talk about the bank. However, since the…
The global investment community has been focused on the recent vote by the UK to leave the European Union, broadly referred to as the “Brexit.” This historic event will have economic impacts on the UK and the European Union, as well as their trading partners. Unsurprisingly, equity markets experienced sharp declines in the days following Brexit and have since seen a significant rebound. If you haven’t already, please read our…
The global investment community has been focused on the recent vote by the UK to leave the European Union, broadly referred to as the “Brexit.” This historic event will have economic impacts on the UK and the European Union, as well as their trading partners. Unsurprisingly, equity markets experienced sharp declines in the days following Brexit and have since seen a significant rebound. If you haven’t already, please read…
If you have children nearing high school, you may feel anxious as you prepare to help pay for college expenses. Some mitigate this feeling by starting the planning process early by opening and funding college savings accounts (529 savings plans). Those who get a jump start, carve out a piece of their monthly cash flow, put it aside and allow it grow as their child gets closer and closer to leaving the house….
