Category: Financial Planning

The Internal Revenue Service recently released updated income tax brackets, standard deduction, and retirement contribution limits for the 2024 tax year. While these taxes are not due for some time, it may benefit you to start thinking ahead.

A meaningful part of your financial plan is your charitable giving.

Perhaps it’s the ideal time to put a charitable giving strategy in place to help you make the most of your donations. Consider strategic giving when you:

By Marc C. Shaffer

I was talking with a friend recently who has lost quite a bit of weight. We were talking about the process and how it differed from their past experiences. They had spent many years fighting the ups and downs of fad diets and lose-weight-quick gimmicks. It wasn’t until they embraced a steady process that required small habit changes that made a huge difference over time that they were able to find success that was lasting.

This concept can also be applied to building wealth. It would be great to have a get-rich-quick shot, but it doesn’t exist (unless you know something I don’t!) House prices seem outrageous, grocery bills keep rising and the extras cost more and more. What is there to do? If the current economic landscape makes you feel like you’ll never get ahead, keep reading.

There continues to be an increase in fraudulent and criminal activities that trap unsuspecting individuals into loss. Now more than ever, you may be targeted financially through a variety of schemes. This checklist helps guide you through common threats and scams, and works to help you remain informed to actively protect your identity and assets.

By Marc Shaffer Spring is here – the time of awakening and starting fresh – hence the reason we also start to think about spring cleaning. Now typically, this could mean tidying a garage that was stuffed with all the yard items from last summer or scrubbing areas of...

By Marc Shaffer

Spring is here – the time of awakening and starting fresh – hence the reason we also start to think about spring cleaning. Now typically, this could mean tidying a garage that was stuffed with all the yard items from last summer or scrubbing areas of our house we often ignore. But now would also be a great time to think about spring cleaning your finances.

Are you ready to rethink some budget items, get your affairs in order and start fresh for the rest of the year and beyond with a spruced up financial focus?

Income tax planning can be critical to your financial success. Navigating our complicated federal pay-as-you go income tax system can be difficult. Adding further complexity, you must understand and adapt to changes in tax laws and in your personal circumstances. In each tax year, it is important to ensure that you are properly paying your federal income tax liability in order to avoid penalties. Frequently, individuals may need to make estimated payments to avoid penalties for late payments and/or underpayments.

Planning for the sale, disposition, or succession of one’s business is a challenging process. This topic may be on your mind as a business owner, yet many struggle to take action and start planning.

Where should you start? What questions should you ask when addressing your exit strategy?

One thing to note: we RARELY hear people say they started the process too early. Consider starting earlier than you have planned, as these transitions are often years in the making.

This checklist covers key issues to consider when making decisions regarding the sale, disposition, or succession of your business, such as: