Author - Sam Fawaz, CPA, CFP®

1
Details of Proposed Tax Reform
2
Common Estate Planning Mistakes People Make
3
Can Any Monkey Make Money in an Uptrending Stock Market?
4
Equifax Data Breach Requires Action
5
How to Navigate a Homeowner’s Insurance Claim

Details of Proposed Tax Reform

The House Ways and Means Committee released draft tax reform legislation on Thursday. Titled “The Tax Cuts and Jobs Act”, H.R. 1, incorporates many of the provisions listed in the Republicans’ September tax reform framework while providing new details. Budget legislation passed in October would allow for the tax reform bill to cut federal government revenue by up to $1.5 trillion over the next 10 years, and still be enacted under the Senate’s budget reconciliation rules, which would require only 51 votes in the Senate for passage. The Joint Committee on Taxation issued an estimate of the revenue effects of …

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Common Estate Planning Mistakes People Make

“Mortality never prevented the majority of human beings from behaving as though death were no more than an unfounded rumor” – Aldous Huxley

A Rocket Lawyer survey in 2014 indicated that 64% of Americans did not have a will. If you’re one of them, then this is a must-read.

The most common way to transfer assets to your heirs is also the messiest: to have a will that is so out-of-date that it doesn’t even relate to your property or estate anymore, to have your records scattered all over the place, to have social media, banking and email accounts whose …

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Can Any Monkey Make Money in an Uptrending Stock Market?

Looking back in history at a chart of the stock markets, in hindsight, it seems so simple to make money in the markets. Buy some index funds, periodically add to them, and “voila”, your money grows over time. Buy Amazon shares at $4.00 and sell them several years later at $1,000. Easy peasy, right?

You probably didn’t notice, but Monday, September 11 marked a milestone: the S&P 500 index’s bull (up-trending) market became the second-longest and the second-best performing in the modern economic era. Stock prices are up 270% from their low point after the Great Recession in March 2009—up …

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Equifax Data Breach Requires Action

While most of us have been watching the path of Hurricane Irma, another big news story this past week warrants your attention.  Last week, Equifax announced that a “Cybersecurity Incident” had exposed names, Social Security numbers, birth dates, addresses and, in some cases, driver’s license and credit card numbers, from a whopping 143 million Americans.  We have already received e-mails from clients who have been affected, and expect to receive more since this will likely affect about half of the country.

In fact, this is another massive data breach reminding us how vulnerable we are to thieves seeking our personal …

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How to Navigate a Homeowner’s Insurance Claim

The disaster in Texas, for the unfortunate souls living there, reminds us how vulnerable we can be, and how being prepared before disaster strikes, can make the aftermath so much easier. While the odds of losing everything in a natural or man made disaster are relatively low, it helps to know that you took some steps ahead of time, like having a recent video tape of your entire home and it’s contents, and meeting with your insurance agent to update the coverage and discuss the available “riders” to minimize surprises at claim time.

But suppose your number is up, and …

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