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Do You Owe Capital Gains Tax on Homes? Everything You Need to Know About Capital Gains and Real Estate

You worked hard to become a homeowner. Now, what happens when it’s time to sell? We break down one of the biggest tax considerations you need to know. What is the capital gains tax? In general terms, a capital gains tax is the tax on the profit you receive when you sell a taxable asset that has increased in value. For example, if you purchased a piece of art for $2,000 and later sold it for $15,000, only the net $13,000 would be taxed. How is the capital gains tax related to real estate? Things get a little more Read More

Do You Owe Capital Gains Tax on Homes? Everything You Need to Know About Capital Gains and Real Estate2022-05-06T18:21:39-07:00

Should You Invest in Crypto? A Wealth Manager’s Perspective

Cryptocurrency: The latest investment buzzword. However, when it comes to making decisions about your financial portfolio, you need to look past the hype of new investment trends. Before deciding whether or not to invest in crypto, make sure to consider these critical advantages and drawbacks. What Is Cryptocurrency? You’ve likely heard the term, but, in keeping with its name, cryptocurrency can often feel cryptic and vague. Put simply, cryptocurrency is any form of digital currency that uses encryption to secure and verify any transactions. In other words, anyone can send or receive payments to anyone else in the world Read More

Should You Invest in Crypto? A Wealth Manager’s Perspective2022-04-25T17:54:07-07:00

Is a Dividend Reinvestment Plan a Good Idea?

If you’re looking for a long-term investment strategy (or long-term shareholders for your company), it’s time to add a dividend reinvestment plan to your financial planning efforts. What is a Dividend Reinvestment Plan? To understand a Dividend Reinvestment Plan (DRIP), you need to understand dividend reinvestments. First, an investor buys into a stock that pays dividends (a profit-sharing payment usually delivered to the investor once per quarter). Dividend reinvestment, then, happens when an investor uses the payment to reinvest in the same company, rather than taking the dividend payout and spending it, saving it, or using it to invest Read More

Is a Dividend Reinvestment Plan a Good Idea?2022-04-25T17:51:39-07:00

Financial Hygiene Checklist: Steps to Take Now to Protect Your Money

Are you doing all you can to protect your finances during these unprecedented times? Start with our checklist to safeguard your accounts and information. Following the Russian invasion of Ukraine last month, government agencies, banks and others in the financial services industry have been on high alert to the possibility of Russian cyberattacks. Some experts have said that the United States’ sanctions on Russia could provoke an attack here, and that it could impact banking systems, critical infrastructure (like the power grid), and more. While we’re not a cybersecurity firm and can’t speak to the ins and outs of Read More

Financial Hygiene Checklist: Steps to Take Now to Protect Your Money2022-03-15T17:08:33-07:00

How the Fed Raising Interest Rates Will Impact You

You’ve probably heard that the Federal Reserve plans to hike interest rates this year for the first time since 2018. Wondering if and when this might affect your finances? Here’s what you need to know. What sort of rate hikes are expected? Federal Reserve Chair Jerome Powell told the Senate Banking Committee on March 2 that he expects the Fed to raise interest rates one quarter of a percentage point. That's a more conservative increase than was originally expected, but the Fed has indicated that more caution is needed in light of the Russian invasion of Ukraine, which has Read More

How the Fed Raising Interest Rates Will Impact You2022-03-11T17:54:04-07:00

Don’t Make These Mistakes When Choosing a Financial Advisor

Considering hiring a financial advisor? Improve your chances of selecting the right one for you by avoiding these top mistakes. The wealth advisor you hire plays a major role in whether or not you succeed in reaching your financial goals. No pressure, right? Here are seven common mistakes people make, along with what you can do to get the information you need to make the best decision. #1 Not checking their credentials Did you know that almost anyone can hang a sign that says they’re a financial planner? When looking for a financial advisor, you want to make sure Read More

Don’t Make These Mistakes When Choosing a Financial Advisor2022-03-07T16:03:18-07:00

Claiming Spousal Social Security Benefits: What to Know

Social Security benefits are available to spouses who wouldn’t otherwise be eligible for benefits based on a lack of work history. Even for spouses who do have an earnings record, the spousal benefit may be greater than what they qualify for on their own. Find out if this applies to you or your spouse, and how you can claim spousal benefits. First things first: Are you eligible to receive spousal benefits? The three questions to ask yourself to confirm your eligibility are: 1) Have you been married for at least one year? The answer must be yes to qualify. Read More

Claiming Spousal Social Security Benefits: What to Know2022-03-07T15:59:52-07:00

Tax Diversification: What It Is & Why It Matters to Your Investing Goals

You’re certainly aware of the importance of diversification when it comes to your portfolio, but have you considered how being diversified from a tax perspective influences your retirement plans? What is tax diversification? This is an approach to investing that involves allocating your assets across investments that have different tax treatments. This isn’t to be confused with asset allocation, of course, which refers to spreading your investment dollars among varying asset classes in order to appropriately balance risk and reward. However, tax diversification does help you balance risk and reward, in that you’re investing to mitigate the risk of Read More

Tax Diversification: What It Is & Why It Matters to Your Investing Goals2022-02-28T13:51:04-07:00

Inflation Protection Tips from a Wealth Manager

Wishing you could inflation-proof your finances? You’re not alone. While everyone is subject to the effects of inflation, there are a few things you can do to minimize its impact on your investment portfolio. Inflation is being talked about and felt everywhere these days. This loss of purchasing power (meaning your dollar won’t go as far tomorrow as it did today) is evidenced by the consumer price index, which increased 7% over the 12-month period ending in December 2021 —the fastest increase since 1982. Inflation is a fact of life and of investing. This means that there is no Read More

Inflation Protection Tips from a Wealth Manager2022-02-10T18:16:23-07:00

What’s the Status of the Mega Backdoor Roth?

As of late January 2022, the backdoor Roth IRA is still an option. But some experts are saying if you plan to execute a backdoor or mega backdoor Roth, now is the time. You might have heard that part of the Build Back Better bill included closing the ability to contribute to a backdoor Roth IRA, which has been a nice tax-savings maneuver for many high-income individuals and households. While this portion of the bill did not pass in late 2021, there is a possibility that Congress will take another stab at it in 2022. The Backdoor Roth & Read More

What’s the Status of the Mega Backdoor Roth?2022-01-28T16:53:55-07:00
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