For taxable investors, the cost of annual taxes paid on portfolio income (i.e., interest and dividends) and capital gains can be one of the biggest detractors to a portfolio’s return.
Read MoreClients often ask if they will be able to itemize deductions on their tax return to claim more deductions than the “standard deduction”.
Read MoreIn contrast to traditional methods that typically involve budgeting for one-time annual donations directly to charity, “planned giving” involves making significant gifts to charities that are arranged in the present to be granted in future years.
Read MoreBefore moving forward with divorce proceedings, decisions involving family matters, income arrangements, and asset-division need to be made. To create a division that feels equitable, couples will typically substitute certain assets to be retitled to themselves individually after the divorce finalizes.
Read MoreWhether money is put into a 401(k) account or hidden under a mattress, there are numerous ways to save for retirement.
Read MoreOn July 6, 2017, a new budget was passed by the State of Illinois, which included an income tax rate increase from 3.75% to 4.95% for individuals.
Read MoreFor most individuals, the main goal of giving to charity is not necessarily to take advantage of the income tax deduction or to receive some benefit in return, but rather to support an organization that has a mission they believe in.
Read MoreThe Tax Cuts and Jobs Act includes major tax reform that will impact almost all taxpayers.
Read MoreHave you ever given something to an organization and wondered if it would count as a tax-deductible charitable donation?
Read MoreLet’s be totally honest: no one wants to pay taxes. It’s the reason Samuel Adams and the Sons of Liberty threw the largest tea party in history.
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