As the official first day of summer, June 21st, quickly approaches, many people have travel on their minds and schedules. Many of our clients hope to travel now and in retirement. Planning for a vacation is similar to planning for retirement; it is helpful to start early and be well organized from the beginning. If you are considering a vacation this summer, think about your budget, the timing of the trip, and items that could help make your vacation memorableRead More
Savant offers perspective on a variety of topics. Entries range from current events to timeless insights in the world of finance and investments.
“The desire of gold is not for gold. It is for the means of freedom and benefit.” – Ralph Waldo Emerson.
Radio and TV ads for buying gold tout the “get rich quick” theme and prey on the fears of those concerned about geo-political events. But they don’t talk much about the adverse tax consequences.
IS GOLD AN INVESTMENT?
By “gold,” the IRS means gold coins, gold bars, or gold bullion. This also includes ExchangeRead More
There are a lot of scams that prey on elderly people. Sadly, the most common perpetrators of elder financial abuse are family members. The elderly are very susceptible to abuse in the earliest stages of cognitive decline. In fact, the inability to handle financial affairs is often the first sign. This is true often before the cause of the dementia (such as Alzheimer’s) is even identified. If you find yourself in the position of having to help a loved oneRead More
It’s no secret that college isn’t cheap. In 2014-15 the average cost of one year at an in-state public university was $23,410. Average cost for one year at a private college was $46,272. Also, annual increases in the cost of higher education are outpacing inflation. With rising costs in mind, it’s important to start saving early in order to get the most out of every dollar you put away.
Enter the 529 plan.
A 529 planRead More
There are two camps among income tax-paying individuals: The one that owes tax upon filing their return and the one that receives a refund (technically, there is a third camp that neither owes nor receives). Tax professionals and financial gurus within each group have their own reasons for believing their camp is the right camp to pitch their tent and start roasting marshmallows. Here are the main arguments from both sides to help you determine if you needRead More