The season of giving is almost here, and now is the perfect time to revisit your charitable plans with your financial advisor. Thoughtful planning can help you maximize both the impact of your gifts and the tax benefits you receive. Looking ahead, starting in 2026 the new One Big Beautiful Bill Act (OBBBA) will bring…
Financial advisors regularly see this question come up from individuals and couples who are focused on multigenerational planning: What’s the difference between estate and gift taxes, and how do I make sure Uncle Sam doesn’t take more than his fair share? Avoiding estate taxes is top of mind for many clients who want to protect…
There’s a lot to unpack with the One Big Beautiful Bill Act. It is the most sweeping piece of tax legislation since The Tax Cuts and Jobs Act of 2017. Perhaps the most impactful change from a tax planning perspective is the temporary increase of the state and local tax (SALT) itemized deduction from $10,000…
The One, Big, Beautiful Bill Act (OBBBA) has introduced significant tax changes that could affect families across the country. While many of the provisions aim to provide financial relief, the new rules can be complex. Below is an overview of the key changes. Adoption credit enhanced Parents who adopt may be eligible for more generous…
A sweeping new tax bill—officially called the “One Big Beautiful Tax Bill”—has passed, bringing a mix of extensions, updates, and brand-new provisions that could shape your tax planning and financial strategy in the years ahead. Whether you’re focused on wealth preservation, retirement, or generational planning, here’s a quick look at some of what’s staying the…
As we hit the halfway mark of the year, it’s a good time to revisit your investment portfolio—not just to evaluate performance, but to plan ahead for capital gains taxes. Whether you’ve already sold assets or are considering changes later in the year, a few well-timed moves now can help minimize your tax burden and…
Variable universal life (VUL) insurance contracts can be difficult to understand. Many first-time buyers don’t realize how complex managing the policy is until years after purchase. These policies are often sold with big promises but may not deliver. A VUL is life insurance combined with an investment account. Part of the money you pay (your…
Small to midsize businesses have valid reasons for incorporating, not the least of which is putting that cool “Inc.” at the end of their names. Other reasons include separating owners’ personal assets from their business liabilities and offering stock options as an employee incentive. If you’re considering incorporation for your company, however, it’s essential to…
In July, the IRS issued final regulations related to required minimum distributions (RMDs) from retirement accounts, clearing up some of the controversy and uncertainty surrounding changes made under the SECURE Act and the SECURE 2.0 Act. The final regulations, which go into effect on Jan. 1, 2025, confirm that non-eligible designated beneficiaries — generally someone…
Don’t treat estate planning as a one-time checkbox. People tend to consider an estate plan as something that should be addressed once but not necessarily revisited. The issue this presents is that subsequent life events are not considered. For example, you may welcome a new addition into your family after developing an initial estate plan….
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