There are some can't miss ways to start an argument. Talk politics in a diverse room. Attend a Michigan home football game wearing an Ohio State jersey. Suggest that The Rolling Stones were better than the Doors and that Highlander was the best movie ever made. Or just decidedly state that buying a vehicle is better than leasing. The [...]
This time of year is referred to as the ‘season of giving’. Charities report that 31% of all charitable donations happen in December each year and that 12% of donations occur on the final three days of the year. There is good reason to believe that those percentages will increase dramatically in 2016. Proposed tax [...]
This time of year means open enrollment season and that means battling a consistent bevy of confusing acronyms: FSA, HSA, HRA, PPO, HMO, POS, and on. Reorienting every year to the different meanings, rules, and benefits of these acronyms is akin to relearning the scoring rules of curling every four years. Most Americans are interested [...]
High income families faced with high annual taxes are often looking for ways to reduce their taxes or save additional dollars in tax-efficient ways. Unfortunately, these well-intentioned pursuits often result in irrational behaviors (such as permitting the government to shortchange your retirement savings) or unfavorable outcomes (such as paying more taxes than you would have [...]
One of the most challenging roles of parenting is finding the proper balance between protecting children too much and not enough. In the early years, we cover electrical outlets, protect household edges with soft bumpers, and spend hours analyzing all the safety features of car seats. Parental protection then evolves to monitoring what our children [...]
President Obama unveiled the Fiscal Year 2017 Budget last Tuesday (February 9th) which included several unexpected first-time proposals in addition to many crackdowns and “loophole closures” that have become annually recurring proposals. Experts contend there is little likelihood of any substantial tax change in the final year of the President’s term. However, we could see [...]
An important issue that often arises for working professionals seeking to save for retirement is whether to utilize a Traditional 401(k) or Roth 401(k) for retirement savings. Although this dilemma may seem utterly confusing and resultantly receive less thought than the decision of whether to accept an old co-worker’s Facebook friend request, it can have a [...]
The following article was originally published in 2015. Note that an updated explanation of the tax impact under the new Tax Cuts and Jobs Act exists here. Many of our early-career and mid-career professional clients face the annual reality of alternative minimum tax (AMT), knowingly or unknowingly. This secondary tax system captures a large segment [...]
Over the course of a career, many individuals will experience a year or more with limited income prior to retirement. It could be the result of a multi-month break from employment or simply the decision to temporarily leave the workforce for graduate school. These situations present powerful opportunities that are generally only available for a limited [...]
There is a refreshing simplicity to the golf game of a toddler. I appreciate this because my youngest son’s passion for golf is only superseded right now by that of chocolate chip cookies and his blanket. He spends long stretches every day hitting a foam golf ball around the yard and occasionally we visit the [...]
