Archive - 2018

1
2018 Year-End Tax Planning Tips
2
Look Past the Headlines for Stock Returns
3
Don’t Invent Income!
4
Women: Strategic Investments and Financial Planning are Important
5
Estate Planning: Plan to Distribute Belongings and Mementos

2018 Year-End Tax Planning Tips

Yep, it’s that time of year again. While the stock markets were busy correcting in October, making for a very volatile month, our thoughts turn to year-end tax planning.

Now is the time to take steps to cut your 2018 tax bill. Here are some relatively foolproof year-end tax planning strategies to consider, taking into account changes included in the Tax Cuts and Jobs Act (TCJA).

Year-end Planning Moves for Individuals

Game the Increased Standard Deduction Allowances. The TCJA almost doubled the standard deduction amounts. For 2018, the amounts are $12,000 for singles and those who use married filing separate …

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Look Past the Headlines for Stock Returns

If you are interested in knowing how the stock markets are doing, you have to look past the headlines.

I don’t know how many times I’ve gotten an alert on my phone and saw a headline that said “Dow Plunges!” or “NASDAQ Tumbles!”, and I’ve gone and looked to see what happened and those markets were down like 1% or 0.9%. That’s not really a tumble.

If you went to the grocery store and your favorite tuna went from $2 to $1.98 and the guy there says, “Oh look at that – the price just plunged!” you wouldn’t really believe …

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Don’t Invent Income!

Seems like a no-brainer – why would anyone want to invent income? That just means you’ll have to pay tax, right? Not always, especially if the income is for a minor and is only a relatively small amount – say, enough to qualify for the maximum Roth IRA contribution, for example.

This is a follow-up to the article Open a Roth IRA for Your Child, where we talked about how beneficial it can be to set up one of these accounts for your child. One of the points we talked about in that article was how the account can …

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Women: Strategic Investments and Financial Planning are Important

In”Women can take control to protect and grow their wealth,” the Nashville Business Journal offers a summary of a more detailed report on gender differences and investing from UBS. Some of the challenges women may face when attempting to build wealth include:

  • The pay gap between women and men
  • Seeking work with flexible hours
  • Taking time away from work (often for caretaking duties)
  • Living longer than men

If it is true that many women seem reluctant to take risks with their investments, “here is also evidence to suggest that women may invest in a more disciplined …

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Estate Planning: Plan to Distribute Belongings and Mementos

How to Divvy Up the Inheritance and Keep the Family Together” offers tips on how families can handle the distribution of tangible items that have intangible value. Relatives will want cash, land, and valuable jewelry but they will also want tchotchkes, mementos, cheap furniture, and pictures too. And the emotions attached  to these items with little market value are just as strong as those associated with cold, hard cash.

Some people are reluctant to discuss such matters and imagine that their heirs will figure it out. Emotions run high after a death in the family and long-simmering resentments …

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