How Much Do I Owe You?

May is a great month for so many reasons – beautiful weather, the kickoff of summer and best of all 11 more months before we have to file taxes again!  As sure as May is to bring us reasons to smile, April can be a little more moody.  Rain and persistent cold can pop up out of nowhere and filing our tax returns can often lead to a surprise tax bill we weren’t anticipating. It’s easy to neglect our tax withholding.  Our lives are busy and many of us assume that our employers are withholding… [read more]
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Money for Nothing

“In this world nothing can be said to be certain, except death and taxes.”  We’ve all heard this before.  Anytime I do, I think immediately of Brad Pitt in the movie Meet Joe Black.  He plays a personified version of death – Joe Black – who comes to take the life of Anthony Hopkins’ character.  After taking an interest in Hopkins and his daughter, he decides to pardon him from death in exchange for a glimpse into what life is like for the living.  In one scene, someone says to Black that nothing is… [read more]
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Help People, Work Your Mind & Warm Your Heart

We often have clients ask us to share what we’re hearing from others in terms of how they’re reaching out, staying active and helping others.  The ways in which our clients, their friends, families, neighbors and loved ones give back is seemingly endless, but when an opportunity comes up that aligns with our mission of improving people’s lives through better understanding of their personal finances, we can’t help but pass it along. For the last several years, one client in particular has found a unique way of giving back through the AARP Foundation.  One… [read more]
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TAAG’s Take on Tax Law Changes

Much has been reported on the American Taxpayer Relief Act passed at the beginning of 2013 to address the fiscal cliff.  We wanted to share our thoughts on the recent changes and how we plan to address with our clients in our first attempt at blogging via video. [read more]
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Fiscal Cliff Breakdown

In case you missed it, our Representatives in Washington managed to eke out a budget deal in the late hours of New Year’s Day.   The headlines over the last week have been dominated by the “fiscal cliff” story with all kinds of thoughts, commentary and opinion as to what direction the deal was taking.  To help filter out some of the noise, below is a link to a brief summary from the Washington Post covering exactly was agreed to, full language of the bill and other notes of interest as the clock ran out for… [read more]
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What You Can Control

In recent client meetings, there has been a lot of discussion about what we recommend to ensure our client’s portfolios can weather any potential market volatility or likely tax increases on the horizon.   Many people have accelerated income in 2012 by exercising stock options or converting Roth IRA dollars creating a larger tax liability than usual.  As always, we do not advocate any investment changes based on forecasting, but there are a few things that can be done to mitigate your tax bite this year. This is often the time of year when people start… [read more]
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Will the New Medicare Taxes Impact You?

With the Supreme Court’s decision this summer to uphold the constitutionality of the Patient Protection and Affordable Care Act of 2010, there are two new taxes, starting in 2013, that can impact individuals with income in excess of $200,000 and couples who earn more than $250,000.
NEW TAX ON WAGES
To help offset the cost of insuring more Americans, the Medicare Hospital Insurance Tax was created. For earned income (wages and self employment income) that exceeds the thresholds mentioned above, you will incur an additional 0.9% tax. Income received from a pension, Social Security or… [read more]
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Making the Most of Tax Time

This is not a favorite time of year for most of us, because wading through all the paperwork needed to prepare our taxes can be a headache. But if you have to gather up all the information anyway, you might as well use it as an opportunity to improve your financial situation. Here are some ideas: • Mortgage Interest Deduction – Look at the year-end summary report you received from your mortgage company and see what you still owe on your house and your current interest rate. The national average for a 30 year fixed… [read more]
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