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Ways to Minimize Tax on an Investment Portfolio
Although we are all obligated to pay our fair share of taxes, few of us would be pleased to pay taxes unnecessarily. Because taxes lower the actual return on your investments, you should be...
Read MoreYear-End Donations and #GivingTuesday
With its family traditions and festive celebrations, the holiday season is the most wonderful time of the year. And according to GivingTuesday.org, the giving in the U.S. alone totaled $2.7 billion to nonprofits and community...
Read MoreYear-End Investment Decisions
What are year-end investment decisions? Year-end investment decisions may sometimes result in substantial tax savings. Tax planning may allow you to control the timing and method by which you report your income and claim your deductions...
Read More4 Ways to Save for Retirement Without a 401(k)
You are not alone if you do not have access to a 401(k) retirement plan. Pew Research data reveals that 35% of private-sector employees do not work for an employer that offers a plan.1 Fortunately, other retirement savings options are...
Read MoreCharitable Gifting
What constitutes a gift to charity? A gift to charity is simply a gratuitous transfer of property to a charitable organization. The key is that your gift must be some kind of property--your time or personal services do not count. There...
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How Estate Planning Can Help Prepare for Long Term Care
The cost of long-term care can vary widely based on location (both city and state) and level of care needed. However, one thing is for certain: with 7 in every 10 people requiring long-term care at some point, preparing for this...
Read MoreEverything You Need to Know About Medicare Savings Programs
The terms Medicare and Medicaid are similar sounding names; however, these programs serve very different needs. Medicare is a health insurance benefit program for those aged 65 and older and others with certain disabilities. Medicare...
Read MoreA Fall Financial Checklist
For many, autumn is the best time of year. The return of cool breezes, comforting foods, and pumpkins can be invigorating. It’s also a bookmark of sorts, especially for your finances—a perfect time to take stock of your...
Read MoreHow secure is your data when it’s stored in the cloud?
As cloud storage becomes more common, data security is an increasing concern. Companies and schools have been increasing their use of services like Google Drive for some time, and lots of individual users also store files on Dropbox...
Read MoreYour Long Term Care Action Plan: A Step-by-Step Guide
Those turning 65 this year have a 7 in 10 chance of needing long-term care (LTC) at some point.1 With the cost of a private room in a nursing home now topping $100,000 per year, the thought of paying this — or for a loved...
Read MoreResources for Women-Owned Small Businesses
Small businesses face many problems related to their size, capital, and capability, and for women-owned small businesses, the challenge is sometimes even greater. The good news is there are many professional organizations out there...
Read MoreHow to Minimize Taxes During Market Downturns
Understanding long-term capital gains taxes when you sell investmentsMarket downturns could be a good time to adjust your fund portfolio to minimize the tax bite. Here’s how to calculate the best ways to do that – now and...
Read MoreHow Buy-Sell Agreements and Life Insurance Work Together
When people think about life insurance, what may come to mind is settling final expenses and providing financial support for your loved ones. But, if you own a business, life insurance can be used as part of a buy-sell agreement. Here...
Read MoreTax Considerations Of Selling Your Veterinary Practice
Today, veterinary practices are responsible for treating millions of animals, large and small. The livestock industry alone is around $80 trillion. But when most people think about veterinarian practices, they think about the...
Read MoreStocks - Tax Planning
What is investment tax planning for stocks? Investment tax planning for stocks takes advantage of the tax rules with the goal of achieving the best after-tax return on these investments. Strategies will differ depending on whether you...
Read MoreAsset Protection for Women - Beyond Insurance
As women continue to work and earn money, become the main breadwinners, and run their own businesses, it's important to take measures to protect your lives, businesses, and simply the things you own. That's why asset protection...
Read MoreBoomers' Post-Pandemic Retirement Concerns
For many who are decades away from leaving the workforce, retirement may seem like an abstract concept. But once you've entered your late fifties—like the youngest Baby Boomers, turning 57 in 2021—retirement may begin to...
Read MoreIndexed Universal Life Insurance
Indexed universal life insurance (IUL) is a type of permanent, cash value life insurance. Like universal life insurance (UL), IUL offers you the ability to change your level of protection, premium amounts, and payment frequency...
Read MoreDeciding To Sell Your Veterinary Practice?
You have had a dynamic veterinary practice for several years, but after consultation with your family, spouse, or business partner, you have decided it is time to sell. It is a big step, both an exciting and frightening life-changing...
Read MoreNow Might Be a Good Time for a Roth Conversion
One silver lining in the current bear market is that this could be a good time to convert assets from a traditional IRA to a Roth IRA. Converted assets are subject to federal income tax in the year of conversion, which might be a...
Read MoreHow Disability Income Insurance Policies Define Disability
When was the last time you read the fine print of an insurance policy? The fine print tells you some important information--how the policy defines disability, what your benefits will be, what exclusions apply, and more. The disability...
Read MoreLPL Financial Research Midyear Outlook 2022: Navigating Turbulence
Markets rarely give us clear skies, and there are always threats to watch for on the horizon, but the right preparation, context, and support can help us navigate anything that may lie ahead. So far, this year hasn’t seen a...
Read MoreThe Simple Life: 3 Tips for Simplifying Your Financial Life
If you sometimes feel like your financial life has too many moving parts, you may be looking for ways to get back to the basics—without letting anything slip through the cracks. Fortunately, simplifying your finances does not...
Read MoreJuly 2022 Client Letter
As the calendar has turned to July, investors would certainly like to forget the first six months of 2022. However, the Fourth of July Independence Day holiday does bring with it reason for celebration. Not only is it the...
Read MoreUnderstanding the Three Different Types of Annuities and Payout Options
If you're like some Americans, you've probably heard of annuities but are unsure what they are. An annuity is a contract with an insurance company designed to help your money last throughout your life. With an annuity, the money you...
Read More5 Ways Whole Life Insurance Provides Tax Advantages
Life insurance is essential in providing for beneficiaries upon your death, but it can also offer other tax advantages you may not know. For this reason, whole life insurance, also called cash value life insurance, is often used as a...
Read MoreWhat is a SIMPLE?
There are many types of employer-sponsored retirement plans. One that may appeal to small businesses and to self-employed individuals is the savings incentive match plan for employees (SIMPLE) because, as the name implies, it is easy...
Read MoreThree Things You'll Wish You'd Known Before Retirement
Retirement is one of the biggest life transitions adults will ever deal with. After 20, 30, or 40 or more years in the workforce, new retirees can find it hard to adjust to the reduced amount of structure in their daily lives. But...
Read MoreJune 2022: A Bear Market is Officially Here
A bear market is officially here thanks largely to stubbornly high inflation. For many of us, it has probably felt like a bear market for a while now, but the S&P 500 Index didn’t close more than 20%...
Read MoreInsurance Protection for Dentists: The Big Four
Dentists and their staff often spend their time processing insurance payments and explaining to their patients the benefits of the patient's own dental insurance. But what about the insurance products dentists need to protect...
Read MoreA Guide to Retirement Planning for Doctors
Working in medicine may be challenging, especially with the strain placed on health care professionals throughout the COVID-19 pandemic. Working towards a comfortable early retirement may be a financial goal for some physicians. Here...
Read MoreRequired Distributions: Changes You Need to Know
The Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019 changed the rules for taking distributions from retirement accounts inherited after 2019. The so-called 10-year rule generally requires inherited accounts...
Read MoreMarket Swoons Can Be Great for Angel Investors
Business abounds with tales of investors appearing like angels for the last-minute rescue of new and, of course, ultimately successful companies. The shoestring struggle always reads like a page-turner, climaxing in riches for all. But...
Read MoreWhat Should You Do as Markets Flirt with Bears?
Market declines should inform – not drive - your asset allocation decisions. The standard definition of a bear market is when major U.S. stock indices, such as the S&P 500, drop by 20% or more from their peak. And 5+ months...
Read MoreDespite Concerns, Retirement Confidence Remains Steady
Nearly three quarters of workers and 77% of retirees in a recent survey said they remain at least somewhat confident that they will experience a comfortable retirement, according to the Employee Benefit Research Institute. Nevertheless...
Read MoreMay 2022 Client Letter
As we move into spring and leave behind the last signs of a long winter, many worries from a chilly start to the year for markets, unfortunately, are still with us. The S&P 500 Index had its worst April in more than 40 years, leaving...
Read MoreWhy Retirees Should Devote Time to Community Service
After retirement, you may find you have more time on your hands than you first anticipated. If you are looking for something to fill your downtime that may be fulfilling and beneficial to your health and wellbeing, community service...
Read MoreChoosing Your Pension Payout Option
Many couples may find themselves confronted with a dilemma as retirement nears. If you plan to receive your pension payout on a monthly basis (rather than in a lump sum), you must decide whether you want to receive a higher payment...
Read MoreApril 2022 Client Letter
“Bull markets are born on pessimism, grown on skepticism, mature on optimism, and die on euphoria.” - Sir John Templeton According to the guidance of revered investor Sir John Templeton, it appears to us that this market...
Read MoreUnderstanding the Advantages of an HSA in 2022
A Health Savings Account (HSA) can be a good alternative to traditional health care, especially for those who are young and healthy. With an HSA, you put money away in a tax-advantaged account but in order to be eligible, you must...
Read MoreThree Things That Happened Last Week That Have Bulls Smiling
Last week was quite the week for stocks, as the S&P 500 Index gained 6.2% for its best week of the year and best weekly gain since the week of the US election in early November 2020. View enlarged chart. In the process there...
Read MoreTax Prep Checklist: Everything You Need to Be Ready for Tax Season
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What Physicians Should Know About Choosing a Financial Professional
As a group, physicians are among the highest-earning professionals out there—and this specialized and life-saving career comes with some specific financial needs. Because of this, physicians should seek out a financial...
Read More5 Critical Financial Strategies for Physicians
As a physician, you understand your medical specialty inside and out, but at the same time, you also need to be able to handle the financial challenges associated with your industry. That may include juggling a lot of student and...
Read MoreThe Most Common Tax Tips before Year End
Tax planning can be advantageous when done during the year and well in advance of year’s end. Opportunities exist for you to mitigate tax liability, which may leave more income for you and/or your family. Generally, people put...
Read MorePhysicians: Why You Need a Financial Professional Who Understands Your Industry
As a physician, you've devoted a lot of time to educating yourself, building a career, and providing top notch care that enriches your patients’ lives, and in the midst of all that, it can be easy to overlook your finances. To...
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