People die all the time. Why, you could wake up dead tomorrow. To be serious for a moment death is not something we enjoy contemplating. It’s nonetheless inevitable and something for which we should prepare while healthy and unemotional. Waiting until we’re terminal or leaving the chore to our loved ones after we're gone is [...]
We all know that guy. Heck, we might be that guy. You know who we're talking about. He’s the guy who solves one problem by creating three even worse problems. Well, that guy is at it again. In an attempt to get around the $10,000 cap on state and local income and property tax deductions [...]
Really enjoyed this graphic: So many applications to life. Knowing what we know, knowing what we don't and knowing there's so much more to learn. It's so important to know where we stand. We are what we are...not what we think we are.
Tucked quietly into the Bipartisan Budget Act of 2018 (signed by President Trump on Feb 9th) is the Philanthropic Enterprise Act of 2017. The Act permits private foundations to own for-profit businesses if certain requirements are met. The Act inserts into subsection (g) of §4943 of the Internal Revenue Code new language that defines six [...]
It’s that time of year – time to fill out the Free Application for Federal Student Aid used by more than 99% of public universities. Many parents take the “why bother” approach. “We have too much money. We’ll never get any aid.” The first thought is usually “why did I have kids” while the second, [...]
This chart does a nice job showing the prior laws, the competing Senate/House proposals for change and how things were resolved during the reconciliation process to create the new laws to go into effect beginning in 2018. Missing from the chart is discussion of the changes to §529s. Previously distributions in order to qualify for [...]
Both the House and Senate passed Bills to reform the Internal Revenue Code. Here's how they stack up as they had into the reconciliation process:
Yesterday members of the House of Representatives announced their version of income tax reform. The Senate is expected to offer its own version as early as next week. Assuming each passes without changes (and that’s a big assumption) there will still likely be changes as the legislation moves through the reconciliation process before being presented [...]
Should a financial relationship be about doing what’s right or feeling good? The former, right? Not so fast. A survey by index zealots DFA found the #1 thing valued in receiving financial guidance is a “sense of security / peace of mind.” Not that that’s a bad thing of course but at 35% of respondents [...]
The outlay for long-term care services increased an average of 4.5% from 2016 to 2017. That’s more than double the 1.7% U.S. inflation rate. The primary culprit was increased labor costs due to a shortage of caregivers. For example home health aids charged an average of $21.50/hr – an increase of 6.17% year-over-year. The 2017 [...]