Do You Know What You’re Worth?
Posted by Margaret Amsden on January 14, 2022
Margaret Amsden
Knowing your net worth can help you evaluate your financial health and plan for the future. From defining net worth to understanding what assets and liabilities are, here are some basic considerations to help you get started.
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Gifting to the Family: Don’t Wait too Long!
Posted by Margaret Amsden on December 2, 2021
Margaret Amsden
This has been an eventful, record-breaking year for mergers and acquisitions, up 158% from the same time last year. Stock values continue to rise while interest rates remain at record lows, creating a prime environment to make deals and close transactions. Consider this guidance to help take advantage of the current tax code and valuation discounts before they disappear.
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Gifting to Reduce Tax Liability
Posted by Margaret Amsden on November 18, 2021
Margaret Amsden
With the end of the year quickly approaching, the time for year-end tax planning is now, especially with the impending changes outlined in the Build Back Better Act (BBBA) set to be implemented at the start of 2022. One of the major changes affects high-net-worth individuals looking to make gifts to reduce a potential future estate tax liability.
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Is Your Wealth Being Managed by the Right Team?
Posted by Margaret Amsden and Casey Haggerty on October 4, 2021
Margaret Amsden
Though CPAs and wealth managers are two different advisors, together they play an essential role in helping individuals make short- and long-term financial plans. To make the best plans for their future, clients are discovering that a partnership between these professionals can further enhance their financial goals and performance.
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How Life Insurance Enhances Your Estate Plan
Posted by Margaret Amsden on August 3, 2021
Margaret Amsden
Life insurance can be a valuable planning tool, but common misconceptions about policy management cause many policy owners to miss significant opportunities. With the right knowledge and advice, you can maximize the policy benefit while reducing cost and risk.
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Retirement and Cash Flow: A Tale of Two Necessities
Posted by Margaret Amsden on May 20, 2021
Margaret Amsden
People throughout the world are dealing with many uncertainties as they learn how to pivot in the face of the pandemic. But one thing at the top of many minds is retirement. Planning early ensures you have the resources you need during your golden years.
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4 Tips for Managing a Large Inheritance
Posted by Casey Haggerty on December 28, 2020
Casey Haggerty
Receiving a large inheritance may sound appealing to most, especially in an era where many have gone through two large financial depressions. However, there are many things that need to be considered. Here are some important tips for managing a large inheritance.
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Private Client Services: An Introduction
Posted by Margaret Amsden on December 1, 2020
Margaret Amsden
Owners of closely-held businesses are passionate about what they do, masters of their practice, and driven to succeed. When it comes time to plan for the future, Private Client Services (PCS) is the partner that helps business owners take on the future with the same confidence they have in their business.
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What You Need to Know! President-Elect Biden’s Tax Plan
Posted by Sarah Russell on November 9, 2020
Sarah Russell
Now that presumed U.S. President-Elect Joe Biden has been named, many people may be wondering what his tax plan looks like and whether there is anything they can do now to prepare for changes that may be coming. Here are some important highlights of his plan.
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Rethinking Your Retirement Funding Options
Posted by Margaret Amsden on September 1, 2020
Margaret Amsden
As a result of market fluctuations over the past six months, many taxpayers have seen a decline in the value of their retirement portfolios, so now may not be the best time to draw from your retirement savings, even if you are eligible. Here is some guidance regarding Social Security and IRA Distributions.
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Estate Planning 101
Posted by Margaret Amsden on August 17, 2020
Margaret Amsden
With all of the change the past few years, now is an ideal time to revisit your estate plan. Learn about the essentials of estate planning and why it's important to review and update your plans on a regular basis.
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Life Insurance: Key to Financial Planning
Posted by Clayton & McKervey on May 19, 2020
Clayton & McKervey
The fact that life insurance pays money to cover your bills and burial after you die is not a secret. Aside from that, there are many other reasons to have life insurance, but most people are woefully unaware of the benefits of doing so and the process of obtaining it in the first place.
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Important Changes to W4 Exemptions
Posted by Margaret Amsden on February 2, 2020
Margaret Amsden
How many exemptions to claim on a W-4 is an age-old question. Unfortunately, the way withholding is computed has changed and there is now a bit more to consider.
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Planning for Retirement: Just When You thought You Knew the Rules!
Posted by Margaret Amsden on December 27, 2019
Margaret Amsden
As 2019 winds to a close, Congress gets busy and passes a law that changes much of what we all thought we knew about planning for retirement, and how Individual Retirement Accounts (IRAs) and 401k Plans work.
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Maximizing the Tax Benefit of Charitable Giving
Posted by Margaret Amsden on December 3, 2019
Margaret Amsden
With the tax law changes that became effective in 2018, the average person has potentially lost the benefit of their charitable contributions. However, there are several very straightforward options that you may be able to take advantage of.
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Getting Ready for Year-End Planning
Posted by Margaret Amsden on October 28, 2019
Margaret Amsden
Every year brings a list of information filing requirements necessary to make sure that payees have the information needed to file their taxes. To assist with year-end business reporting, Clayton & McKervey has identified some items for you to consider.
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Estate Planning After Tax Reform
Posted by Casey Haggerty on August 1, 2018
Casey Haggerty
As many are aware by now, the Tax Cuts and Jobs Act (TCJA) that was passed into law this past December has had a significant impact on many different areas of tax law. Estate and transfer taxes are no exception.
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Estate Planning Strategies for Uncertain Times
Posted by Margaret Amsden and Casey Haggerty on November 14, 2017
Margaret Amsden
Among the many rumors surrounding tax reform, several concepts have surfaced regarding what lies ahead with respect to the estate tax. In general, the …
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