• Best End of Year Tax Strategies 2021

    Tax topics to address for the end of the year 2021

    One of the most overlooked areas of financial planning remains income & wealth tax planning, and I mean forward looking problem solving planning that address clients current tax situation, their future tax obligations and the ever changing tax environment. The last five years have been monumental for tax planning and having a financial planning team that understands importance of navigating the complex tax environment is more crucial than ever. In a very short period of time we have seen significant tax changes from the Tax Cuts and Jobs Act (TCJA) of 2017; The Setting Every Community Up for Retirement Enhancement (SECURE) Act; The Coronavirus Aid, Relief, and Economic Security (CARES) Act; the Consolidated Appropriations Act; and the American Rescue Plan of 2021. If that doesn’t have your head spinning we are on the brink of another major tax overhaul pending the passing of the Build Back Better Act, Spending Plan and Infrastructure Bill. All of these have made an already confusing tax system mindbogglingly complex, however we are helping clients navigate and plan with sound tax planning strategies. Below is a great resource about potential year end strategies for tax leverage, savings and creating generational wealth.

    Tax-Topics-Checklist-for-2021

  • Retirement Savings Tax Planning -The Chess Match

    Chess Match: Retirement Savers versus IRS

    As we play our chess match against the IRS, we have to adapt to the rules as they change.

    In retirement income and tax planning the long-standing conventional wisdom has pounded the table to “defer, defer, defer” therefore most people contribute pretax to their retirement plans and let it grow as long as possible.  While often the default contributing to 401k and 403b plans with pretax deferrals creates tax consequences that leaves savers at the whim of future tax rates and rules. We work to utilize the accounts available to us and leverage the tax benefits in our favor, but are you focused on a pawn while leaving your king exposed?  Given the flood of new tax law and recent regulation changes, make sure your strategy still delivers a winning outcome.

    Like an gambit in chess you must assess the potential outcomes of your current IRA, 401k or any qualified retirement savings. These are no longer your only option, investors have more choices than they know. The opportunity for ROTH contributions, Roth 401k or ROTH conversions create the strategies to shift board in your favor and capture checkmate

    IRA experts Ed Slott shares his advice on how delaying retirement income no longer makes sense

    https://www.fa-mag.com/news/industry-slow-to-adjust-to-changing-tax-planning-paradigm–slott-says-62707.html?section=319

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  • Fixed Income Report

    With interest rates bottomed out, the threat of rising taxes and the spreads on corp bonds tightening it may be time to consider high yield municipal bonds.

    Building-A-Case-for-High-Yield-Munis

    The information provided is not directed at any investor or category of investors and is provided solely as general information and to otherwise provide general investment education. None of the information provided should be regarded as a suggestion to engage in or refrain from any investment-related course of action. Investors should carefully consider their investment objectives, risks and expenses. Individuals should contact their financial advisor or other fiduciary about whether any given investment, idea, strategy, product or service may be appropriate for your circumstances.

  • Disabled Adult Children and Social Security

    For some families, dependent benefits for children with disabilities are an important factor in the Social Security claiming equation. Here’s what you need to know about if you are eligible or claiming your Social Security in 2021 or the future.

    2021-Disabled-Adult-Chilren-Social-Security

  • 2021 Investment Outlook

    From BlackRock Investment Institute

    2020 was by all accounts exceptional. But Rather than dwell on the events of last year, let us look ahead to what’s in store for 2021 Investment Markets! The current environment is full of change and transformational opportunity, while risk remains a lingering concern. Trending areas of opportunity include the exponential growth of ecommerce, increased social awareness or the renewed focus on sustainability. Like an old sports injury the nagging inflation is again a concern, added to a list of other investment risks like geopolitics and Covid-19 vaccine rollout.

    Download the complete 2021 gloan outlook for BlackRock Investment Institute