Like any group of parents, the folks at our office share our parenting successes and commiserate about our failures. Opinions vary on most parenting topics, but there’s a solid consensus around here about the benefit of giving kids an allowance. It turns out there’s some pretty good data to back it up; not only can […]

The IRS just announced increases to retirement plan savings limits and the Social Security wage base for next year.  If you want to continue max funding your retirement plan, you may need to take action.   The 401(k) Deferral Limit is going up What is it? The amount of your annual salary you can put […]

Legislation guaranteeing free credit freezes is now the law of the land! Sure, it was your busy life, not the $5-$10 charge, that was the real impediment, but let’s take this moment as an important reminder to take action now. The legislation, passed earlier this year, eliminates charges nationwide on both credit freezes and lifting […]

Have a child in college? Let’s skip the pumpkin spiced latte and call October the start of the  Free Application for Federal Student Aid (FAFSA) season. Even if you don’t think you’ll qualify for financial aid, submitting the FAFSA (as soon as possible) is absolutely worth it. FAFSA Basics: It’s an application required to qualify […]

Many clients have generously offered feedback and suggestions ever since our newest website went live. Our “Frequently Asked Questions” section – and specifically our minimum asset requirements for new clients – prompted questions that I thought were worth answering for everyone. By way of background, a heartfelt “thank you!” is where we’ll start. Almost 15 […]

As discussed in January’s post, due to the newly-doubled standard deduction, many families will no longer be able to itemize contributions to qualifying charities starting this year. But don’t throw out the baby with the bathwater! You can still save on taxes by giving to charity. But start by putting away your checkbook. Charitable donations […]

Continuing our review of the 2018 tax law changes, we’ll take a closer look at the nearly-doubled standard deduction, how it eliminates the opportunity to deduct charitable contributions for many taxpayers, and two gifting strategies to consider if you’re among those impacted. The basics:  The Standard Deduction will be $12,000 for individuals and $24,000 for […]

Welcome to our first installment in a series where we’ll explore the financial planning implications of the tax law. With bills from private K-12 schools arriving in January, we’ll start with the expansion of the qualifying uses the 529 to include pre-college tuition. The news of this expansion has many parents excited, but let’s take […]

The Internal Revenue Service announced last month the 401(k) contribution limit is set to rise by $500 in 2018 – increasing the cap from $18,000 to $18,500 and from $24,000 to $24,500 for workers over age 50. They also announced that the per person gift exclusion will rise from $14,000 to $15,000. Couples will be […]

Here we go again… only this time it’s not just stolen card data from a retailer like Target. As I’m sure you read over the weekend, ALL of your personal information (birth date, Social Security number, etc.) was potentially compromised by the credit rating agency, Equifax, earlier this summer.   At this point, we think it’s perfectly […]