Category - Uncategorized

1
Financial Infidelity Breaks Hearts and Budgets
2
The Markets Can’t Go Up Indefinitely, Can They?
3
Exemptions and Dependents for 2017 Tax Returns
4
What’s Going on in the Markets February 5, 2018
5
New Deadline for Rollover of 401k Loan Distributions

Financial Infidelity Breaks Hearts and Budgets

In “The gift you don’t want for Valentine’s Day,”  CNBC discusses financial infidelity. The article opens with a story about how a spouse ended up revealing the credit card debt he had hidden from his wife during a session with a financial advisor.

 

The article offers things to look out for but it is not an exhaustive list and noticing one thing does not mean that you should assume the worst.

Hidden information:

If you used to get financial statements in the mail but they stop arriving, look into what happened to these statements. …

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The Markets Can’t Go Up Indefinitely, Can They?

2017 was such a good year for the stock markets that it set a record with 12 consecutive positive monthly returns. This was the most highs since 1910 for the Dow. And daily volatility was just 0.30%, much lower than the average of 0.65%.

It has the average investor worried. For over a year, many have been saying that a drop in the US stock market is inevitable. Nervous investors got out of the market months before the 2016 presidential elections and have missed a 26% rise since then.

Recently, I have heard people comment, “The markets can’t go up …

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Exemptions and Dependents for 2017 Tax Returns

It is important to know and understand who can be claimed as a dependent, as well as who can generate a personal exemption for your taxes. It’s not as simple as you might think, especially in complex family situations, such as when a child lives separate from one of his parents, or when there are more than two generations living in the same home.

And best of all, you only really need to know this for the 2017 tax year (at least the exemption part), since exemptions are eliminated for your 2018 tax return.

Recently the IRS published IRS Tax …

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What’s Going on in the Markets February 5, 2018

It’s been a long time, more than a year, since I’ve posted an article about what’s going on in the markets. Market volatility, until last week, has been mostly subdued. For what seems like years now, markets seemed immune from any meaningful drop. But this still young month of February has seen volatility return with a vengeance.

This means that the U.S. stock market will finally get something that happens, on average, about once a year: a 10+% percent drop—the definition of a market correction.  The last time this happened, known as a bear market, was a whopper: the Great …

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New Deadline for Rollover of 401k Loan Distributions

Under the newly-passed Tax Cuts and Jobs Act of 2017 (TCJA), there has been a slight change for folks who have taken loans from their workplace retirement plan and subsequently left the job before paying the loan back. These 401k loan distributions (as they are known) are immediately due upon leaving the job, considered a distribution from the plan if unable or unwilling to pay it back. This results in a taxable distribution, plus a 10% penalty unless you’re over age 59½.

The distribution could be mitigated by rolling over the same amount of the distribution into an IRA within …

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