Deflation: Who Doesn’t Like Lower Prices?
Unprecedented fiscal stimulus. Extraordinary money creation. Historically low interest rates. Troubling meat shortages. Prices only have one way to go: Up! Right? Wrong. Watch out for deflation. Fiscal stimulus increases the quantity of goods and services demanded; money printing devalues the dollar; low interest rates lead to overheating economies; and shortages reduce the quantity supplied […]
How to Maximize Your Roth IRA During a Bear Market
During periods of extreme market volatility, like we’ve had during the first quarter of 2020, wise long-term investors will find ways to channel their angst (over things they can’t control) into taking a strategic look at their accounts for potential long-term tax planning opportunities. For those of us who have both traditional (pre-tax) IRAs and […]
3 Retirement Planning Habits to Start in Your 20s
Entering the real world as a career driven adult fresh out of college is one of the scariest steps I have ever taken. I attended school, earned good grades, graduated from college—now what? I’d spent my whole life knowing exactly what my next steps were until I suddenly found myself leaping into the real world […]
CARES Act Part V: Tax Consequences & Your Minimum Required Distributions
Are you currently taking Required Minimum Distributions (RMDs) from your retirement savings accounts? If so, I encourage you to review the changes that have occurred due to the recently passed Coronavirus Aid, Relief, and Economic Security (CARES) Act. The impact of the CARES Act on your RMD rules for 2020 depends on a few key […]
CARES Act Part VI: What Federal Student Loan Borrowers Should Know
The new Coronavirus Aid, Relief, and Economic Security (CARES) Act has been passed, creating a $2 trillion emergency stimulus package. By now, most people have heard that a good portion of taxpayers will be receiving checks from the government and that the deadline to file your taxes has been extended to July 15, 2020. In […]
CARES Act Part VII: Implications for Health Care Patients & Providers
The Coronavirus Aid, Relief and Economic Security (CARES) Act will hopefully provide quick relief to the U.S. economy, but how does it affect healthcare, specifically? What are the implications for healthcare providers and recipients during the COVID-19 pandemic? The recently passed act has added support for providers and patients, even if most provisions are temporary. […]
What Should You Do When the Markets Get Volatile?
On May 13, 1940, Prime Minister Winston Churchill stood before the British House of Commons as their French neighbors were being overrun by the seemingly unstoppable Nazi advance. “We have before us an ordeal of the most grievous kind. We have before us many, many long months of struggle and of suffering. You ask, what […]
Banking Local: What’s Your Money Up To?
“It’s easy to make a buck. It’s a lot tougher to make a difference.” – Tom Brokaw Regardless of what you’re in the market for, a few taps on your iPhone will have you inundated with options—many of which can be delivered almost instantly, thanks to industry giants like Amazon and Uber. It’s true that advances […]
The SECURE Act: What it Means for IRAs and Why it Makes Me Feel Less Secure
If a significant portion of your estate value is held in traditional IRAs, 401k plans, or other qualified (pre-tax) retirement accounts, you should strongly consider talking to your financial advisor about reviewing your lifetime tax strategy and estate plan. It’s likely that both need to be revised due to the SECURE Act. The Setting Every […]
The Key to Maximizing College Tax Credits
In my last article, I focused on the IRS rules related to distributions from Qualified Tuition Programs (such as 529 and prepaid tuition accounts), so this article will address two of the best tax breaks available to most families who are currently paying college costs—the American Opportunity credit and the Lifetime Learning credit. More importantly, I’ll discuss […]
