Bill Gordon, AIF® As we near the end of the year there are going to be some opportunities to make sure you get your finances in order. It’s important to check off your annual financial to-do list. There are a few other money moves to be aware of as we come to a close on … Continue reading More Year-End Money Moves
Sunwook Jin, CFP®, CRPC®, CMFC®, EA Most likely, you’ve heard what’s brewing in Washington, D.C. regarding taxes. It seems to be in the news every day. The Build Back Better Act, the $3.5 trillion budget reconciliation bill, or the Jobs and Economic Recovery Plan for Working Families, whatever you know it as you know it … Continue reading Taxes May Be Changing, Will Yours?
Bill Gordon, AIF® The federal government has upgraded its Child Tax Credit. Thanks to the American Rescue Plan Act, there are four notable differences in effect for the 2021 tax year only.1 First, the Internal Revenue Service is paying many families who qualify for the CTC 50% of their credit before 2021 ends. Second, the … Continue reading The Expanded Child Tax Credit
Sunwook Jin, CFP®, CRPC®, CMFC®, EA The 2015 Obergefell v. Hodges Supreme Court decision streamlined tax and estate strategizing for married LGBTQ+ couples. If you are filing a joint tax return for this year or are considering updating your estate strategy, here are some important things to remember. Keep in mind, this article is for … Continue reading Tax & Estate Strategies for Married LGBTQ+ Couples
Sunwook Jin, CFP®, CRPC®, CMFC®, EA Recently, you may have seen headlines regarding the Securing a Strong Retirement Act, also referred to as the second version of the SECURE Act, or SECURE Act 2.0. As the bill moves from the House of Representatives to the Senate, many hopeful investors are anticipating further retirement support as … Continue reading Are You Ready for the Second Act of the S.E.C.U.R.E. Act?
Sunwook Jin, CFP®, CRPC®, CMFC®, EA Now and again, the price action on Wall Street can surprise even the most seasoned investors. Look no further than when President Biden in late April proposed an increase in the tax on capital gains to 39.6% from 20% for those Americans who earn more than $1 million. Stocks … Continue reading Debate Starts on Capital Gains Tax
Bill Gordon, AIF® In a speech to the Chicago Council on Global Affairs, U.S. Treasury Secretary Janet Yellen has called for a minimum corporate income tax that would be shared by countries all over the world. The decrease of corporate tax rates around the world has led to what Yellen has described as a “30-year … Continue reading Call for Minimum Global Corporate Tax
Sunwook Jin, CFP®, CRPC®, CMFC®, EA President Joe Biden introduced the much-anticipated American Jobs Plan, which outlines an approach to spend roughly $2.2 trillion on the nation's infrastructure and other projects. As part of the legislative process, the Biden administration also laid out a proposal for paying for the domestic investment. The plan includes raising … Continue reading Paying for the Infrastructure Bill
Sunwook Jin, CFP®, CRPC®, CMFC®, EA Previously, the Internal Revenue Service (IRS) announced that the federal income tax filing due date for individuals for the 2020 tax year had been automatically extended from April 15, 2021, to May 17, 2021, we wrote about it here. However, the IRS has also settled on May 17, 2021 … Continue reading IRS Extended Deadline Approaching Soon
Bill Gordon, AIF® The House of Representatives passed a $1.9 trillion relief package focused on economic relief following the COVID-19 pandemic. The bill was signed into law at the White House on last week. Beyond the much-discussed $1,400 stimulus checks, the relief bill offers many levels of stimulus, including funds for vaccine distribution, expansions of … Continue reading COVID-19 Relief Bill Signed Into Law