Address Digital Assets in Your Estate Plan
Today, almost everyone owns some sort of digital asset – and some of these assets can be quite valuable. But if your estate plan doesn’t account for digital assets property, your heirs may not be able to access them. So, factoring these intangibles into your estate plan is essential. What Are Digital Assets? Financial transactions are
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2024 Golf Outing
We may have picked the hottest day of the year, but that didn’t stop us from having a blast at The Pines Country Club for our H/D golf outing! Our winning group, shooting a 66, was Charlie Dorn, Stephanie Vanicek, Brian Gough, and Nic Maxfield – congratulations!
Smart Tax Planning Pays Off
If you’re financially successful or expect to become so, taxes are or will become one of your biggest expenses – and most people want to minimize their tax obligations. Roughly two-thirds of Americans say that they pay too much in federal income taxes, according to a poll earlier this year from the University of Chicago Harris
Demystifying Personal Casualty Losses
In recent years, many Americans have been the victims of natural disasters. If you’re unfortunate enough to suffer a personal casualty loss, here are the federal income tax implications. Limited Deductions for Personal Caualty Losses In theory, the federal income tax rules allow you to claim an itemized deduction for personal casualty losses that aren’t
Working on Your Estate Plan? Consider a Revocable Living Trust
If you’ve reached an age when you really want to start working on your estate plan, one arrangement to consider is a revocable living trust. Perhaps you’ve heard of one, but you’re fuzzy on the details. Here are the basics. You create a revocable living trust while you’re alive and can cancel it at any
Tax Credit Cuts Price of Home Energy Audits
Homeowners have long been rewarded with favorable tax treatment for making energy-efficient improvements. The Inflation Reduction Act, enacted in 2022, expands the tax credit for qualified energy-efficient improvements to help subsidize home energy audits, which can result in even more savings in your utility bills. Recent IRS guidance sheds some light on the credit. Overview The
2 Important Breaks for Mature Taxpayers to Consider
If you’re an “experienced” taxpayer, you’re probably entitled to some age-based federal income tax breaks that younger taxpayers can’t claim. Here are some details to help you take advantage of two valuable opportunities to lower your federal income tax obligations. 1. Make Retirement Account Catch-Up Contributions If you’re age 50 or older, you can make extra
How New Retirement Plan Emergency Savings Accounts Work
Starting in 2024, employers can offer their non-highly compensated employees the option to participate in emergency savings accounts that are linked to their company-defined contribution retirement plan accounts. This option was introduced in the SECURE 2.0 Act. Defined contribution plans include 401(k) plans. Employees can then make contributions out of their salary to fund their
Contributing to a Company Roth 401(k) Account
Does your company give employees the option of contributing to a designated Roth account (DRA)? Roth retirement plan options, such as Roth 401(k)s, are now offered by 88% of employers, according to the latest available statistics from 2022. If your company offers DRAs, you should consider contributing to one, particularly if you expect to pay
H/D Madness Results!
Last month, our very own March Madness competition came to a close. The five weeks of games went as follows: Week 1 – Connect Four Week 2 – Jenga Week 3 – Sequence Week 4 – Pentago Week 5/Championship – Corn Hole Our 2024 champion is Keanu Landolt!