In part two of our four-part blog series discussing the recent income tax changes, we will be looking at the most significant changes to the standard and itemized deductions. After the changes to the overall tax rates that we discussed in the first post, the changes to the standard and itemized deductions could have the greatest impact on your 2018 federal income tax bill. Under the new rules the standard… Read More
Major Tax Changes In 2018
Whenever there is major tax reform, the question on everyone’s mind is, “Will my taxes go up, down, or stay the same? We will try to help you gain insight into what bearing the tax code changes effective in 2018 will have on your personal tax situation. This is the first article in our spring blog series that addresses the recent tax reform bill known as the Tax Cuts and… Read More
A New Look
Exactly four years ago we introduced our first blog post to you. We hope that you have found our blog posts both timely and relevant. We have thoroughly enjoyed your personal responses after each post. We have decided to use this four-year milestone to refresh our look and give additional focus to our posts. We have created this unique look for our blog to distinguish it from our other marketing… Read More
Beneficiary Planning
In our last blog, Adam Burns presented the importance of having a current will in place so that your assets will be distributed and loved ones cared for according to your wishes. A will is a critical document to have, but did you know you have the power to override your will? This could be done intentionally, which could be good planning, or by accident, which could be a disaster…. Read More
Change the Status Quo
As humans, we are conditioned to crave comfort and stability. Most of us do not strive to put ourselves in situations that could end up being embarrassing or harmful to us. This leads to a phenomenon called ‘status quo bias’. A recent Harvard Business Review article explains this behavioral bias: “Breaking from the status quo means taking action, and when we take action, we take responsibility, thus opening ourselves to… Read More
Generosity All Year Long
The time between Thanksgiving Day and New Year’s Day is commonly referred to as the Giving Season. It is the time when many of us purchase and distribute Christmas gifts to family and friends, and according to one study, this is the time when non-profit organizations receive 24% of their total annual charitable contributions. Year-end charitable giving is often motivated by a current year charitable tax deduction. This entire Giving… Read More
The Elephant in the Room
Can we talk about the elephant in the room? The market has been generous for a number of years, with recent returns in the double digits. However, we know that the market “giveth” and the market “taketh away.” It’s simply the market’s cyclical nature. I believe that the “taketh away” part is the elephant in the room, and it might be good to acknowledge its presence. I’m not making a… Read More
When Life Changes
When asked, I agreed to become the legal power of attorney, health care power of attorney and executrix for two beloved family members. Naively, I thought it would be years and years before I would be called upon. Wrong. On July 3rd of this year, these two family members were in a serious car accident, leaving one in the trauma unit and the other, challenged with dementia, scared and frightened… Read More
A New Venture
After nearly fourteen years of serving clients at Master’s, I will be moving into a completely different line of work. Starting in December, I will be leading a team who will serve seniors who want to stay in their homes, but for various reasons, cannot care for themselves. The decision to leave Master’s was not an easy one. I have thoroughly enjoyed my interactions with each of you who have… Read More
Blog Series: The 401k Marketplace
In the last several years the Department of Labor has taken steps to put policies and procedures in place that are focused on protecting clients and retirement plan participants by requiring advisors to be more transparent in every aspect of their relationship with their clients. Requiring advisors to work in the best interest of their clients is a mandate in the industry that we applaud and welcome. Following are some… Read More
