In our Q&A last month, we discussed bunching charitable contributions as a potential strategic option to lower your tax bill. Bunching contributions involves making multiple years’ worth of...
How can bunching charitable contributions lower my tax bill?
Since 2017, taking the standard deduction has truly become the standard. In fact, since the passage of the Tax Cuts and Jobs Act (TCJA), over 85% of Americans opted to take the standard deduction...
Can I reduce or satisfy my Required Minimum Distribution (RMD) by gifting to charity?
Qualified Charitable Distributions involve gifting directly from your IRA and are a popular charitable giving strategy. This is because QCDs do not count as taxable income for the person making the...
Wealth Management Q&As
Wealth Management is more than investment management. It considers the larger picture. While your investments are critical to your success throughout retirement, it is also important to understand how your taxes, finanical plan, estate, and insurance can affect both your overall situation. Do you know when you should begin collecting social security to maximize its benefit? Have you followed the necessary steps to help your assets pass efficiently to your heirs, avoiding probate? If 529 plans are applicable to you, have you considered 529 plan superfunding or how to maximize 529 plan tax advantages? Our wealth management Q&As consist of popular topics among our clients and are not limited to investment management.