Principles trump feelings, especially in the area of investment decisions. When faced with an investment decision, we should always ask, “If I do this, will I be violating any proven principle?” In his book Investing for the Future, Larry Burkett relates a story about a man who had been retired from Sears for ten years. Over the years he had accumulated a significant amount of Sears stock, and that holding… Read More
A Team Approach
It’s probably no secret that the majority of my office mates are deep into sports. I tend not to share their passion. I just don’t get it. But then, they don’t quite understand my obsession for the fiber arts. So when the Bracket for the NCAA Men’s Basketball Tournament (I actually Googled that so I had it correct – that’s how much I am not into sports!), I uttered this… Read More
New Tax Law for Business Owners
Business owners, take heart! The Tax Cuts and Jobs Act of 2017 is now in effect and may offer a boost to your bottom line. Changes in the new tax law affect business owners of both large and small companies in significant, and in most cases, positive ways. We will focus on the big picture changes in this blog post. We’ll look first at C corporations which are taxed at… Read More
Child Tax Credit Expanded & 529 Plan Changes
Today’s blog focuses on several significant changes that will directly impact those of you who have minor children or grandchildren who are college-age or younger. We will explore the Expanded Child Tax Credit and discuss some significant changes to 529 (College Savings) plans. Under the new tax law, the Child Tax Credit has been expanded from $1,000 per qualified child to $2,000 per child (under the age of 17). In… Read More
Changes to Standard and Itemized Deductions
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
