Individuals, foundations, bequests, and corporations gave an estimated $449.6 billion to U.S. charities in 2019, according to findings in Giving USA 2020. Individuals accounted for an estimated $309.7 billion, up 4.7% in 2019 versus the prior year. We tend to think about charitable donations around the holidays. It’s year-end and your gift to a charity ...
The short answer is probably “No.” The longer answer is, “I don’t know” because tax hikes proposed by the president may or may not be enacted into law by Congress. Last month, President Joe Biden unveiled The American Families Plan, which among other things, proposes to raise capital gains taxes on long-term capital gains—on the ...
This time last year, the World Health Organization recently had declared that the spread of Covid-19 constituted a worldwide pandemic. Stringent measures in the U.S. were being taken to slow the spread of Covid and “flatten the curve.” The lockdowns and shelter-in-place orders dealt a body blow to U.S. economic activity. Investors, who attempt to ...
To fund his large-scale infrastructure initiative, President Biden is planning to increase taxes. While these plans are still subject to significant change, it is time to start learning about the proposed changes to see if you could be affected. Forewarned is forearmed. Today’s tax rates are among the lowest U.S. citizens have experienced since the ...
You have saved and invested for decades and you are gearing up for retirement, or maybe you have already left your job. While the idea of leaving your career behind may be appealing, it is a monumental change that can also be unsettling for some folks. You will be sailing in a new direction, and ...
“Stop in the name of love, before you break my heart.” We know The Supremes weren’t alluding to the pitfalls couples face when they grapple over money issues. But our own experience tells us that money plus love can lead into minefields we’d rather avoid. So, let’s recognized the obvious. Financial matters are an important ...
When was the last time you received a phone call or email from a scammer? It you were contacted recently, you aren’t alone. Internet scams show no signs of letting up. In fact, the problem may be getting worse. In its most recent report from the Internet Crime Complaint Center (IC3), the FBI said ...
How did we manage our client accounts last year? What does 2021 have in store (according to analysts)? How can you minimize your tax liability? What are some good financial new years resolutions? Tune in to our webinar to hear our fiduciary advisors discuss the answers to these questions. Daniel review what occurred in ...
With 2021 upon us it’s important to be armed with the most up to date information. Here is a handy sheet with all kinds of key financial numbers that can help you determine what your tax bracket is, contribution limits, and even Medicare deductibles. Please feel free to give us a call if you ...
Tax brackets and tax rates have changed. Every year, the tax brackets for taxable income are adjusted based on the rate of inflation. Table 1 illustrates your marginal tax bracket based on taxable income. Table 1: Tax brackets for 2020 The increased standard deduction has simplified filing for many. The standard deduction for married filing ...