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Year-End Tax Planning Checklist: What to Look For Before December 31st

November 16, 2021 | By Matthew Gordon, CFP®, RLP®

As 2021 draws to a close, it’s a good time to make sure that your tax planning is set. To help minimize your tax payments over time, there are several items that should be completed before December 31st. In this article, we’ll cover the 10 critical areas you should focus on for your year-end tax checklist.

Estate Planning: Gifting Strategies for 2021-2025

September 29, 2021 | By Katharine George, CFP®

On December 31st 2017, the Tax Cuts and Jobs Act (TCJA) doubled the federal lifetime gift and estate tax exemption from around $5.5M to about $11M. This higher exemption amount has continued to increase indexed for inflation and the exemption in 2021 is $11.7M. After 2025, the TCJA is set to ‘sunset’ and the exemption reverts to pre-2018 levels, adjusted for inflation, for an estimated future exemption amount of $6.8M.

What are Health Savings Accounts (HSAs) and should I have one?

January 25, 2020 | By Matthew Gordon, CFP®, RLP®

Health Savings Accounts (HSAs), as the name implies, are savings accounts for health care expenses. There are restrictions on who may contribute, how much and what counts as a qualified medical expense. It is worth exploring whether you have the opportunity to participate in these as they provide some compelling tax benefits.

Divorce: Key Considerations for an Equitable Split

December 5, 2019 | By Brenna McLoughlin, CFP®

Divorce results in the division of a household’s assets and income, but parties involved should consider that sometimes a split that appears equitable may not be.