The One Big Beautiful Bill Act (OBBBA) introduces a host of tax changes beginning in 2025. While some provisions are temporary and others phased in, there are important planning implications for individuals and families to be aware of. Understanding not only what changes are coming, but also how to coordinate them with your broader financial…
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As tax season approaches, many seek the expertise of a Certified Public Accountant (CPA) or Enrolled Agent (EA) to navigate the perplexing labyrinth of filing and compliance. However, combining the specialized knowledge of a tax professional with the comprehensive financial planning skills of a CERTIFIED FINANCIAL PLANNERTM (CFP®) practitioner can create a powerful partnership that…
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With the Thanksgiving holiday in the rear-view mirror and the holidays fast approaching, it is a perfect time to review your financial situation. This includes capitalizing on potential tax savings opportunities for 2024, ensuring compliance for 2024, and positioning yourself well for 2025. Required Minimum Distributions For Individuals 73 and Older: If you are 73…
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While tax preparation and tax planning are both critical components of managing your financial health, they serve distinctly different purposes. It’s essential to understand the difference between these two processes. Tax preparation focuses on reporting past financial activities. This involves compiling and submitting tax returns to the IRS to report income, deductions, and credits for…
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The end of the third quarter of 2023 brought some challenges in the financial markets. The S&P 500 fell -4.9% in September and the MSCI All Country World index dropped -5.08% for the month, driven by a sudden spike in long term interest rates. That was in the context of some dour headlines, including: And that…
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As the market accepted the reality of higher interest rates, a likely recession, and heightened uncertainty, both equity and bond markets continued their decline. Below are the asset class returns for 3Q of 2022. The news media would like us to believe that these declines are the result of a world spinning out…
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With inflation and recession fears dominating headlines, both stocks and bonds continued their fall in the second quarter of 2022. At times, it useful to put short term market conditions in the context of longer market cycles. If we go back to the January 1, 2009, we observe that the S&P 500 (with dividends reinvested)…
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Earlier this month, the U.S. Bureau of Labor Statistics announced that the Consumer Price Index (CPI) for All Urban Consumers had risen 8.5% for the 12-month period ending March 31, 2022. This marked the fourth consecutive month where the annual CPI rate was 7% or more. When it comes to the reality of higher inflation,…
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As the global pandemic extended into 2021, the markets continued the remarkable run that began the third week of March 2020. Since that time, US large company stocks, as measured by the S&P 500 Index, have more than doubled in value. For 2021, the broad US stock market generated a positive return of more than…
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On August 31, 2021, the Social Security Board of Trustees released its annual report, which included the latest projection for the Old-Age and Survivors Insurance (OASI) Trust Fund. According to the report, if Congress does not act, the fund is projected to become depleted by 2033, a year sooner than the estimate provided in 2020.…
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