ETFs and mutual funds are two forms of investments that are widely used. When comparing the two there is one standout benefit that ETFs have over mutual funds - their tax efficiency. What separates these two investments’ tax implications is that they are structured and traded differently. ETFs are
Tax Update: SALT and Charitable Deductions
One of the most controversial changes that was part of the Tax Cut and Jobs Act of 2017 passed last December was concerning the deduction of state and local income taxes, more commonly known as SALT. Prior to the December change, taxpayers were able to deduct from their federal taxes all
2018 Key Financial Data Card
In light of the recent Tax Cuts and Jobs Act, I wanted to send a quick, easy-to-follow reference card with the new tax brackets and other numbers that investors need on taxes, Social Security, healthcare, Medicare, retirement, college planning and more. The guide presents these numbers in simple
2017 Key Financial Data
While there's tons of information out there on money and taxes, it can be somewhat confusing and time-consuming to find what you need as you organize and plan your personal finances. Below is a link to a 2017 Key Financial Data reference card, which offers fingertip access to this year's numbers on
Tax filing statuses
Your tax filing status has a major impact on what you'll pay in taxes for the year. There are five official filing statuses, and the one you pick determines whether you can take certain tax deductions or exemptions that could lower your final tax bill. Single - This applies to never-married,
The Wealth Chronicle: Tax Prep Edition
February marks the beginning of the rush to get taxes done by April 15th. I wanted to dedicate this issue to providing information about how to maximize your annual tax preparation experience. You’ll find articles on: Questions to ask your CPA when you meet to discuss the preparation of your
Tax Loss Harvesting
One year-end strategy to lower your tax requirement is tax loss harvesting. Tax Loss harvesting involves selling securities at a loss to offset a capital gains tax liability. The goal is not to own investments that go down in value, but Tax loss harvesting can be used to limit the recognition of
What can you learn from your tax return
In last month's newsletter one of the articles contained questions that you should ask your CPA as you are getting your taxes done. Now that tax day has come and most of us have filed our taxes and it's a good idea to look at your return carefully as it can yield a lot of intelligence about your