Year-End Tax Planning Strategies
As we approach the end of the year, it’s wise to be mindful of the upcoming tax season. Of course, you’ll want to consider the tax impact of your financial decisions throughout the year, but December is the time for last-minute actions to maximize your tax savings or set yourself up for the year ahead.…
Read MoreFlexing the Muscle of Generosity
The generous will themselves be blessed, for they share their food with the poor. — Proverbs 22:9 Like any other financial skill, generosity doesn’t always come naturally. If you’ve never had money of your own before, you may not have had any opportunity to give. You may like the idea of giving to charity but…
Read MoreImportant Dates for Your Finances This Year
As the year winds to an end and you begin thinking of holiday plans, don’t forget about some important upcoming financial deadlines: December 6: Initiate 2024 Roth Conversions December 13: IRA withdrawals for 2024 income, including Required Minimum Distributions Stock gifts to charities or donor advised funds Qualified Charitable Distributions Gifts of assets to family…
Read MoreEstate Planning Basics
You’ve just finished paying a few thousand dollars to an estate lawyer to draw up a will or trust. You’ve named executors and trustees and appointed a financial power of attorney. You’ve even drafted a living will and advanced directive and chosen your medical agent. You’re all finished with estate planning, right? Not so fast.…
Read MoreSticking to Your Spending Plan
As we talked about in Part 2 of our series, understanding the uses of money and creating a money plan that considers every category is important. But a budget is only helpful if you follow it, and sticking to a plan in the face of temptation isn’t always easy. Here are a few tips for…
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