Here are six flags that could make your tax return prime for an I.R.S. audit. No one wants to see an Internal Revenue Service (I.R.S.) auditor show up at their door. But in 2018, the I.R.S. budget is roughly $1 billion less than it was 8 years ago, down from $12.1 billion in 2010 to […]
Category: Wealth Management
Keep Calm, Stay Invested
Expect volatility, but avoid letting the headlines alter your plans. Recent headlines have added volatility to the markets. There will always be new headlines, and any of them could mean turbulence for Wall Street. As an investor and retirement saver, how much will this turmoil matter to you in the long run? Not as much […]
What if You Get Audited?
What the I.R.S. looks for and why. “Audit” is a word that can strike fear into the hearts of taxpayers. However, the chances of an Internal Revenue Service audit aren’t that high. In 2017, the I.R.S. audited 0.5% of all individual tax returns.1 Being audited does not necessarily imply that the I.R.S. suspects wrongdoing. The […]
Coping with an Inheritance
A windfall from a loved one can be both rewarding and complicated. Inheriting wealth can be a burden and a blessing. Even if you have an inclination that a family member may remember you in their last will and testament, there are many facets to the process of inheritance that you may not have considered. […]
Fixed Index Annuities
What are they? How do they work? What is a fixed index annuity? Don’t let the investment jargon put you off, Fixed Index Annuities are simpler than they sound. A Fixed Index Annuity is a tax-favored accumulation product issued by an insurance company. However, unlike fixed deferred interest rate annuities, a Fixed Index Annuity’s annual […]
Trends in Charitable Giving
The hows and whys of charity in America. According to Giving USA 2018, Americans gave an estimated $410.02 billion to charity in 2017. That’s the first time that the amount has totaled more than $400 billion in the history of the report.1 Americans give to charity for two main reasons: to support a cause or […]
Diversification, Patience, and Consistency
Three important factors when it comes to your financial life. Regardless of how the markets may perform, consider making the following part of your investment philosophy: Diversification. The saying “don’t put all your eggs in one basket” has real value when it comes to investing. In a bear or bull market, certain asset classes may […]
Getting a Head Start on College Savings
The hows and whys of college savings. The American family with a child born today can expect to spend about $233,610 to raise that child to the age of 18. And if you’ve already traded that supercharged convertible dream for a minivan, you can expect your little one’s college education to cost as much as […]
Will You Avoid These Estate Planning Mistakes?
Too many wealthy households commit these common blunders. Many people plan their estates diligently, with input from legal, tax, and financial professionals. Others plan earnestly but make mistakes that can potentially affect both the transfer and destiny of family wealth. Here are some common and not-so-common errors to avoid. Doing it all yourself. While you […]
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Put it in a Letter
Express your wishes. Actor Lee Marvin once said, “As soon as people see my face on a movie screen, they [know] two things: first, I’m not going to get the girl, and second, I’ll get a cheap funeral before the picture is over.”1 Most people don’t spend too much time thinking about their own funeral, […]