Tax-Loss Harvesting: How to Use Market Dips Before December 31st
You open your investment statement in late November, and your stomach drops. Some stocks are down 15%, others 20%. That tech fund you bought with such confidence in January? Down considerably. Your first instinct might be to look away and hope things improve. But those losses sitting in your portfolio could actually reduce your tax bill if you act strategically before year-end. This strategy is called tax-loss harvesting, and it's one...
How the One Big Beautiful Bill Act Changes Taxation of Social Security Benefits for Retirees
The Social Security Administration sent an email that made millions of retirees do a double-take. "The new law includes a provision that eliminates federal income taxes on Social Security benefits for most beneficiaries," it proclaimed, announcing the passage of the One Big Beautiful Bill Act. Seniors across the country started celebrating what seemed like the end of Social Security taxation. But the bill doesn't actually eliminate taxes on Social Security benefits...
New Parents’ Guide to Tax Benefits: Making the Most of Your 2024 Tax Return
Welcoming a new baby changes everything - including your tax situation. Between midnight feedings and diaper changes, tax planning might be the last thing on your mind. However, understanding the tax benefits available to new parents could put thousands of extra dollars in your pocket during the 2025 tax season. Think of your new tax situation like assembling a baby's room - you need the right tools, proper planning, and attention...
How Does Inflation Impact Your Investments?
Rising inflation rates impact prices and purchasing power and may also impact the value of your investments. One concern that may not be on your mind as you’re wealth planning is inflation. But inflation impacts a wide variety of financial considerations, including the investment choices you make. Inflation is how much the economy increases prices each year for the average cost of goods and services. The inflation rate signifies the rate of...
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