Monthly Market Commentary: February 2024 Recap … [Read more...]
Financial Planning Items to Confirm on Leap Year
Helping navigate record-high stock markets to achieve long-term objectives Every four years, we encounter an extra day appended to our calendar, known as February 29th. This phenomenon, termed a Leap Year, has been a part of human timekeeping traditions for centuries. The concept of a Leap Year originated from the need to synchronize the human-made Gregorian calendar with the astronomical year, which is determined by the Earth's revolutions around the sun. Historical Origins The idea of … [Read more...]
Steady Federal Reserve Rates are Good for Us
It’s a calculated strategy to help ensure long-term stability for the economy As a financial advisor, my goal is to navigate the ever-changing economic landscape to identify opportunities and strategies that benefit my clients. A topic of recent interest among investors is the Federal Reserve's decision to maintain current interest rates, rather than pursuing a lowering strategy. While this may initially seem like a cause for concern, a closer examination reveals that steady rates have … [Read more...]
January’s Market Returns
January's Market Returns & Yearly Performance … [Read more...]
Tips to Navigate Tax Filing Season and the IRS
Be proactive and follow these steps to ensure accuracy and compliance Tax filing season can be a stressful time for many individuals. Dealing with the IRS and ensuring compliance with tax regulations can seem daunting. However, with proper preparation and a proactive approach, you can navigate the tax filing season with confidence. Here are a few valuable tips to help you effectively deal with the IRS and make the tax filing process smoother. Organize Your Documents: Start by gathering … [Read more...]
New 2024 Income Tax Brackets
IRS Announcement 2024 … [Read more...]
Rescuing America’s Safety Net
A March 2023 survey found that more than 90% of Americans worry about the Social Security program, and about half of those said they worry a great deal.1 A separate survey the same month found that more than 80% of Americans worry Medicare will not be able to provide the same level of benefits in the future.2 These concerns are well-founded, because both of these programs — the cornerstones of "America's Safety Net" — face serious fiscal challenges that require Congressional action. And the … [Read more...]
The Debt Ceiling and Deficit Spending
On January 19, 2023, the outstanding debt of the U.S. government reached its statutory limit, commonly called the debt ceiling. The current limit was set by Congress at about $31.4 trillion in December 2021.1 On the day the limit was reached, Treasury Secretary Janet Yellen instituted well-established "extraordinary measures" to allow necessary borrowing for a limited period of time. While Yellen projects the extension will last until early June, the Congressional Budget Office (CBO) … [Read more...]
Taxation of Investments
It's nice to own stocks, bonds, and other investments. Nice, that is, until it's time to fill out your federal income tax return. At that point, you may be left scratching your head. Just how do you report your investments and how are they taxed? Is it ordinary income or a capital gain? To determine how an investment vehicle is taxed in a given year, first ask yourself what went on with the investment that year. Did it generate interest income? If so, the income is probably considered … [Read more...]
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 2019, the legislation is designed to improve the current and future state of retiree income in the United States. "This important … [Read more...]