Substantiating Your Charitable Gifts
Not all charitable gifts are the same—different types require different documentation for a tax deduction. Learn more in this week’s Tax Tip.
Gift Idea: Grandchild IRA
If your grandchild worked over the summer, consider funding an IRA for them. Read all about it in this week’s Financial Tip.
Avoiding RMDs: Work Forever or Give it All Away
Senior Associate Jarrett McKenzie, CFP®, CWS®, takes a deeper look at an investor’s situation, as he wants to avoid taking his required minimum distributions from his 401(k) once he turns age 70 ½.
Market Roundup: Markets Fall More Than 2% Over Holiday-Shortened Week
After the Labor Day holiday, the major indices closed in the green zone on Tuesday, with the NASDAQ hitting a new record high thanks to good performance in many Technology brands. West Texas Intermediate tacked on 1.02% to settle at $45.50 a barrel. The ISM Non-Manufacturing Index showed services fell to 51.4 last month, versus an expected reading of 55, down from 55.5 in July. The markets ended trading mixed on Wednesday, as the Dow Jones Industrial Average and S&P 500 shed some points while the NASDAQ closed at a new record level again. The Federal Reserve’s Beige Book, which covered economic activity from July through mid-August, showed a modest to moderate pace across most districts. Additionally, an anecdotal read on the 12 districts showed labor markets continued to tighten, and that energy markets had seen signs of stabilization. West Texas Intermediate crude added 1.34% to settle at $46.07. Stocks traded lower on Thursday as a result of a variety of economic news. Crude oil prices ramped up following an unexpected dip in domestic reserves. U.S. inventories decreased by 14.5 million barrels over the last week versus an expected increase of 200,000 barrels. West Texas Intermediate crude oil added 4.22% to settle at $47.42 a barrel on the news. Labor Department data showed new claims fell by 4,000 to 259,000 for the last week. The red results continued into Friday amid rising interest rate concerns. Meanwhile, West Texas Intermediate crude shed 3.7% to settle at $46.46 a barrel.
‘Sell in May and Go Away’ and Other Investment Adages
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains how you can’t invest by following rhyming couplets. Read the Article
New Business? First-Year Deduction Strategies
Not all start-up business expenses are deductible in the first year. We offer first-year deduction strategies in this week’s Business Tip.
Group Disability Insurance
A group disability insurance policy can be an affordable solution to your need for income protection. We explain in this week’s Insurance Tip.
Are You a Non-Filer? Ready to Escalate Problems with the IRS?
Don’t file your taxes because your income is below the threshold? The IRS knows all about you and what you earn. Read all about it in this week’s Tax Tip.
Choosing a Continuing Care Retirement Community
Bang for your Buck: Consider the range and quality of facilities and services a continued care community offers. Read all about in this week’s Financial Tip.
Partners May Not Be Employees
If your partnership treats you as an employee so you receive employee benefits, the IRS is putting a stop to it. Learn more in this week’s Business Tip.