What You Need to Know Before Lending Money to Family
……Carefully consider what you’re entering into and take the time to determine whether the arrangement makes sense from a relational perspective and in terms of wealth planning…….
Category: Perspectives
Fee-based vs. fee-only financial planners
Although “fee-based” and “fee-only” financial planners sound similar, they both have different fee structures and different obligations to investors. Here’s what you need to know about fee-based vs. fee-only financial planners.
Can I Deduct My IRA on My Tax Return?
Is a contribution to an individual retirement account (IRA) tax-deductible? For many of us, the short answer is: You bet! That’s what IRAs are for. However, there are rules and limits.
New Investors Discover Tax Pitfalls of Robinhood and Other Trading Apps
Common tax-minimizing strategies are difficult or impossible to implement on the trading platforms that have boomed in popularity in the past year.
Some couples may face a ‘marriage penalty’ under Biden’s tax plan
President Joe Biden is proposing higher taxes on the top 1% to help pay for the $1.8 trillion American Families Plan. But the “marriage penalty” may hit couples earning more than $500,000. Financial experts say tax planning strategies may lessen the sting.
Elimination of Stepped-Up Basis Looks Unlikely, Schwab Lobbyist Says
President Biden’s proposal to eliminate the step-up in basis for calculating inheritance taxes is getting the cold shoulder from both Democrats and Republicans, Schwab’s top Washington D.C. lobbyist told advisors today…….
Cyber Risk Mitigation
What is cyber risk and what can we do about it? Melody Koenig, Chief Information Security Officer (CISO) at FirsTrust, LLC explains how to be more aware of your personal cyber risk and ways for mitigation.
INVEST IN YOU: READY. SET. GROW. Financial advisor, financial planner or robo-advisor? Here’s how to find the right help to manage your money
…….check for advisors who are regulated as fiduciaries because they are required by law to look out for their clients’ best interests.