Managing one’s personal finances is a complex task that requires focus, judgment, and discipline. There are budgets to maintain, various types of debt to manage, long-term goals to plan for, savings and investments to select and oversee. And in today’s uncertain economic environment, keeping all of these components on an even keel takes more than […]
Archive | March, 2017
Washington Hotline – March 28, 2017
Tuesday March 28, 2017 WASHINGTON NEWS Phone Scams, IRAs and Tax Extensions The IRS published multiple reminder letters this week. In IR-2017-64 the Service warned tax preparers to watch for phishing emails claiming to be from clients. The latest tactic is for a scammer to send an email to tax preparers with a “last minute” […]
AAM Weekly Market Wrap – March 27, 2017
Weekly Market Wrap: Stocks fell over the last week on mixed economic data and President Trump pulling the Republican healthcare bill prior to a vote. For The Week The S&P 500 fell 1.44% to 2,343.98 Oil dropped 1.66% to $47.97 Gold gained 1.58% to $1,248.40 The US Dollar fell 1.44% at $99.58 against other […]
Choosing a Cause With Care
Prospective donors can find a suitable charity just about anywhere they look. However by doing some homework, you can better distinguish among the many giving opportunities available to you. What Makes a Charity a Charity? Generally, a charity is a tax-exempt organization that can receive tax-deductible contributions. To be recognized as a charity, […]
Washington Hotline – March 21, 2017
WASHINGTON NEWS IRS Tax Time Tip — 2016 IRA Contributions In IR-2017-60 the IRS reminded taxpayers they can still fund an IRA for the 2016 tax year. Traditional IRA contributions are tax deductible and the IRA fund grows tax-free. Distributions are usually made after age 59½ and are generally taxable. Starting on April 1 after […]
AAM Weekly Market Wrap – March 20, 2017
Weekly Market Wrap: Stocks resumed gains as the expected Fed rate hike helped stocks to their 8th weekly gain in 11 weeks for 2017. For The Week The S&P 500 rose 0.24% to 2,378.25 Oil gained 0.60% to $48.78 Gold added 2.04% to $1,229.02 The US Dollar fell 0.96% at $100.31 against other major […]
What Motivates Your Investment Moves?
When the stock market falls sharply as it did following the recent Brexit Referendum in the United Kingdom, it is not unusual for investors to react emotionally — to act on impulse before thinking through the potential long-term consequences. Why does emotion sometimes cloud your judgment when it comes to making investment decisions? The answer […]
Washington Hotline – March 14, 2017
WASHINGTON NEWS IRS Reports Improved Phone Services At a March hearing before the House Oversight and Government Reform Committee, IRS Deputy Commissioner John Dalrymple noted, “Taxpayer service at the IRS has been improving.” Rep. Jim Jordan (R-OH) reminded Dalrymple that in the 2015 tax season, phone support was quite limited. Only 38% of the incoming […]
AAM Weekly Market Wrap – March 13, 2017
Weekly Market Wrap: Stocks fell after 6 straight weekly gains for the S&P 500 despite a better-than expected February jobs report. For The Week The S&P 500 dropped 0.44% to 2,372.60 Oil slumped 9.08% to $48.49 Gold lost 2.45% to $1,204.49 The US Dollar slipped 0.11% at $101.28 against other major world currencies. […]
Using Trusts to Maximize Charitable Giving While Minimizing Estate Taxes
If you’re eager to pass along accumulated wealth to heirs in the most tax-efficient manner possible while also retaining the ability to support a charity either right away or at some point in the future, then a split-interest trust may be just the tool you need. Split-interest trusts are so named because their financial interest […]
