Blog

Who Pays the Taxes When You’re Dead?

Jan 14, 2020 3:00:00 PM / by Jason Shaw posted in Financial Planning, Tax Services

0 Comments

You’ve probably heard the term “death tax,” but what does it mean? Dead men tell no tales—nor do they pay taxes. When you pass away, who has to pay tax on what you leave behind? That depends on several factors, including how much you leave, the people and/or organizations you leave it to, and how you go about transferring it. To get a basic understanding of how this all works, we’ll look at three kinds of taxes: estate tax, gift tax, and inheritance tax.

Read More

When is the Best Time to Start Estate Planning?

Jan 8, 2020 11:30:00 AM / by Jason Shaw posted in Financial Planning

0 Comments

Estate planning isn't just for the elderly or rich. You might think of estate planning as something older people do—not 20- or 30- somethings who are just starting out in their careers. In fact, a recent survey by Caring.com found that even though three quarters of adults know that a will is important, only 40% actually have one.

Read More

Leaving Your Current Financial Advisor—It’s Okay to Say Goodbye

Jul 3, 2019 4:29:00 PM / by Jason Shaw posted in Financial Planning

0 Comments

If you’re considering leaving your current financial advisor, you’re not alone. A 2015 study by Spectrem Group found that most respondents with a net worth of over $100,00 have changed advisors in their lifetimes. There are several reasons you might be considering making a switch, but how do you know it’s the right decision? Finding the right advisor requires investing the time to research candidates, and transferring management of your portfolio to a new advisor can come with a tangle of red tape. Here are some sound reasons to change financial advisors. 

Read More

What Is the Best Age to Start Saving for Retirement?

May 29, 2019 3:03:00 PM / by Jason Shaw posted in Financial Planning, Retirement

0 Comments

If you're thinking about retirement and the money you'd like to save up ahead of time, there are a few tips on when--and how--to get started. 

Read More

5 Benefits of Having Tax and Financial Services Under the Same Roof

May 17, 2019 2:52:00 PM / by Jason Shaw posted in Financial Planning, Tax Services

0 Comments

Tax planning and preparation is an essential part of an overall financial plan. To make the most of your income and assets, it’s important to consider the tax implications of every financial move you make. Likewise, an understanding of the wide range of investment choices available is beneficial in the effort to keep your tax obligations to a minimum. 

Read More

When Do You Need to File Form 1099-MISC?

Feb 2, 2016 3:04:03 PM / by Jason Shaw posted in Financial Planning

0 Comments

If you pay someone who is not your employee in connection with your trade our business, you may be required to file Form 1099-MISC to report these payments. If you’re unsure whether you need to submit a 1099-MISC for expenses you’ve paid, these guidelines will help you decide.


Read More

I Just Won a Lawsuit! Is My Award Taxable?

Nov 11, 2015 2:26:47 PM / by Jason Shaw posted in Financial Planning

0 Comments

When you receive money from a lawsuit or settlement, it’s important to consider your tax liability before you start spending it. The IRS rules make distinctions between different types of awards when determining what you must claim as income and what you can leave out.

Read More

Holiday Financial Planning for Your Family Budget

Nov 28, 2014 3:05:35 PM / by Jason Shaw posted in Financial Planning

0 Comments

Holiday shopping can put a major strain on anyone’s budget, but some simple planning can help you control its impact on your family’s financial health. Rather than allowing the frenzy of Black Friday and pre-Christmas bargains to carry you into a bacchanalia of careless spending, plan ahead to avoid the financial hangover that inevitably follows.

Read More

Saving for Retirement on a Modest Income

Nov 24, 2014 2:40:29 PM / by Jason Shaw posted in Financial Planning, Retirement

0 Comments

Saving for retirement is particularly challenging for those living on a modest income.  You may feel as though there isn’t any money left after covering your basic expenses each month. Even if you do manage to put away a few dollars, investing in an IRA often involves an initial deposit of at least $1,000.  Low- to moderate-income earners do have some tools available to help them get started, however. If you have found it difficult to begin saving for retirement, these tools and incentives can help.

Read More

Making the Most of Your Social Security Retirement Benefits

Nov 3, 2014 2:30:55 PM / by Jason Shaw posted in Financial Planning, Retirement

0 Comments

How to claim your Social Security benefits can be a critical and complex decision. Making this choice without understanding the factors that can influence the amount you will ultimately be able to collect in Social Security benefits can cost you tens of thousands of dollars in retirement.  Before you make a choice about claiming benefits, it is wise to speak with a retirement planning professional to be sure you are making the most advantageous choice.

Read More