Here are some of the key points of the new tax bill that I would like to bring to your attention: For all of you that must take a required minimum distribution from your IRA, you will be happy to know you will be able to continue to make charitable contributions from your IRA. Everyone will receive a 2% reduction in your tax bracket, with the exception of the 10% tax bracket. Families with children will now receive a $2,000 tax credit per child under the age of 17, in place of the current $1,000
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Monday morning resulted in a massive sell-off in the markets, predicated on the dreary results of the overseas markets overnight. As of the time of this writing, the market has rebounded immensely but remains down overall. I believe this rebound occurred because the “smart money” (institutional investors) realized that this panic created good opportunities for purchasing value. It is important to remember that we are in this for the long haul, and days like these ar
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Recently, I had a client interested in selling his business who commented that he was willing to sell his business at a 20% discount to avoid paying more taxes. I then asked him if I could show him how to sell at full value and not pay more taxes plus create a deduction to reduce taxes he would pay otherwise - his obvious answer was, “Sure!” After showing him, his response was, “Thanks! I just raised the price of my business.” He also liked the fac
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Most of my clients are aware of the advantages of having a Revocable Living Trust. However, too frequently I find out after they have passed away that they had investments or a vacation property or a R.V. that they forgot to title in their trust. Unfortunately, those assets are then forced to go through the probate process with thousands of dollars in probate and legal fees incurred as a result.
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I recently read a study on the investment returns over the last 20 years of a number of different investment asset classes. The results ranged between 4 and 11 percent per year. However, the typical investor only averaged 2.5 percent. The reason for the difference is people tend to do one of these things: They panic when the value temporarily declines. They sell what is not doing well, to buy what is doing well, only to discover those assets just changed their behavior. They ov
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