The law known as the Tax Cuts and Jobs Act (TCJA) of 2017, P.L. 115-97, included some major changes to the Code, but not all of them are here to stay. A number of significant provisions are set to expire after 2025. Although Congress may act to extend some or all of them, it is important to know which provisions are expiring so taxpayers…
From: www.morningstar.com
Here’s how some key asset classes fare as portfolio diversifiers and what that means for building your portfolio.
Diversification is a core principle of sound investing. A portfolio that includes assets with different performance characteristics often leads to better risk-adjusted returns than one that relies on a single asset class. But building a diversified portfolio can be easier in theory…
In the mid-1960’s, efforts to modernize the probate system through adoption of the so-called Uniform Probate Code were conceived as joint projects of the American Bar Association and the National Conference of Comissioners on Uniform State Laws. The project attempted to bring some order to a system that was so archaic and complex that few, if any, of the country’s scholars of jurisprudence could find any redeeming…
From: www.morningstar.com
IRA specialist Ed Slott discusses ‘gotchas’ to watch out for when filing your tax return.
You can do QCDs, qualified charitable distributions, before RMDs begin. So you have a little gap there to start knocking your IRA balance down. You do a transfer from your IRA to the charity. Why are there mistakes on that? Because there is no code. When you…
From: Pimco
This Tax Reference Guide provides highlights of the current tax law for financial professionals and investors to be aware of throughout the year. Together with a tax professional, financial advisors and investors should closely monitor the overall tax burden and look for planning opportunities to reduce or minimize the impact of taxes annually. Federal tax schedules and tables are included for the various income and asset categories.
The American Association of Retired Persons (AARP) comissioned a two-year study conducted by attorneys on probate titled A Report on Probate: Consumer Perspectives and Concerns. The AARP study, published in 1990, is one of the most comprehensive and perceptive analyses of the probate system done to date, and it deserves far more credit and publicity than have been given it.
This study produced some very convincing evidence…
From: www.legacy-group.org
Sometimes the ideas we take for granted start to fall apart when we take a closer look. Check out this video to begin separating fact from fiction.
From: Rob Kuharic
From: www.kiplinger.com
Not only can taxes, inflation and health care costs catch you unprepared in retirement, but so can the costs of supporting others and paying for the fun stuff.
Forecasting expenses in the distant future, particularly over the span of several decades, poses a considerable challenge. As we funnel funds into our IRAs or 401(k)s, the prevailing sentiment often leans toward a hopeful outlook,…
From: www.yourcfoguy.com
They are both crucial in Finance & Accounting, yet each tell you different information
Let’s start with some definitions…
➡️ What is a Profit & Loss (P&L)?
In plain English, a P&L tells you what you’re net earnings are, which is the sum of what you’re EARNING, less the expenses you’re INCURRING
In accrual based accounting, that’s all dependent on…
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