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Wealth Due to Inheritance

What is it? Introduction If you’re the beneficiary of a large inheritance, you may find yourself suddenly wealthy. Even if you expected the inheritance, you may be surprised by the size of the bequest or the diverse assets you’ve inherited. You’ll need to evaluate your new financial position, learn to manage your sizable assets, and […]

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Tax Planning for Business Owners

What is business tax planning? When starting a business, you must consider a number of tax-related issues. Although business tax planning is a complicated area, it is essential to understand three major topics: tax consequences when the business is formed, tax consequences when the business generates income or loss, and tax consequences of business distributions. […]

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Retirement Investors Get Another Boost from Washington

Amid the 1,650-page, $1.7 trillion omnibus spending legislation passed by Congress last week and expected to be signed by President Biden were several provisions affecting work-sponsored retirement plans and, to a lesser degree, IRAs. Dubbed the SECURE 2.0 Act of 2022 after the similarly sweeping Setting Every Community Up for Retirement Enhancement Act passed in […]

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Trusts

What is a trust? A trust is a legal entity that is created when you transfer property to a trustee for the benefit of a third person. The trustee manages the property for the beneficiary in accordance with the terms and the instructions in the trust document. In legal terms, the trustee has legal ownership […]

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Tax Prep Checklist: Everything You Need to Be Ready for Tax Season

Regardless of whether you prepare your taxes yourself or use a professional’s services, it’s a good idea to gather the information and documentation you need well in advance of your actual tax filing date. Below, we’ve listed some key information you need when preparing this year’s taxes. Your Personal Information The personal information you may […]

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Your Financial Fresh Start: 12 Resolutions in 12 Months

Change may be difficult, especially when you try to change your financial habits. The process might be easier if you take an incremental approach. Do you want to get on top of your finances this year? Are you looking for ways to improve your fiscal health? Here are 12 financial resolutions to consider. Work on […]

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A Look at Tax Planning for Retirement

A Look at Tax Planning for Retirement After years of saving and planning for their golden years, many people nearing retirement fail to consider the tax burden they may face on income they receive after they stop working. While you will likely see a reduction in the amount of taxes you owe after the age […]

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New Year, New Goals: Your Countdown to Financial Health

For many people, a new year provides a new start—and nothing says “new start” like a fresh new set of financial goals. But setting these goals is easier said than done. What steps should you take to get the most bang for your buck over the next year? Below we discuss three New Year’s resolutions […]

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How the Secure Act 2.0 Could Change the Way You Save for Retirement

The pending legislation for the proposed retirement reform, better known as the Setting Every Community Up for Retirement Enhancement (SECURE) Act 2.0, is expected to be passed into law by the end of 2022. In March of this year, the United States House of Representatives passed the Securing a Strong Retirement Act of 2022. Then […]

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Countdown To Investing in the New Year: 10 Questions to Ask Yourself

If one of your New Year’s resolutions involves enhancing and expanding your investment portfolio, look no further. In a true New Year’s Eve countdown tradition, ask yourself these 10 questions to help review your investment plans. 10. What’s My Investment Timeline? Not every investment is appropriate for every timeframe. Someone who hopes to retire in […]

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