Tax Diversification – Why We All Need It

BY: PATRICK COTE

You may not have heard about tax diversification – most people have not.  Tax diversification is making sure that investments are placed into three different account types to hedge against future tax increases:  pretax (e.g., traditional IRA or 401K), taxable (e.g., regular brokerage account) and tax-free (e.g., Roth IRA or Roth 401K).  More people should be talking about it, since it is one of the most critical parts of most investment plans and can make a large difference for yo

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Future Tax Rates

BY: KATE HENNESSY

Last month I mentioned that my husband and I were considering converting a portion of my Traditional IRA to a Roth IRA, otherwise known as a Roth IRA conversion.  After doing the analysis and speaking with our CPA, we decided to convert 1/3 of my Traditional IRA to a Roth IRA.

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Planning to Work Until 65? The Choice May Not Be Yours

By: Susan Powers

One of the first questions we ask clients when gathering information for their financial plan is, ‘At what age would you like to retire?’  Those who continue to enjoy their jobs and the challenges it brings, often plan on working well past age 65. For many others, the answer is often tied to the availability of Medicare, Social Security or other pension benefits.  

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Kids, Money & the Pandemic

By: Patrick Cote

The pandemic has affected all of our lives in many ways.  For some families, the results have been tragic with the loss of loved ones.  For others, they have faced economic hardship with the loss of jobs or businesses.  Even if you have not been impacted economically, but have kids who are teenagers or in their early 20s, you may have seen how difficult it now is to find summer jobs.

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Who's Your Person?

By: Kate Hennessy

If I’ve learned anything over the past five months - life is unpredictable.  I’ve come to appreciate the importance of focusing on what’s within your control, because there’s a whole lot of life that is out of our control.  Although I do not take life or my family for granted, it wasn’t until recently that I asked myself “who’s my person?” You may be scratching your head thinking, what is she talking about?  By definition for this article – “a person” is someone that can step in and help wh

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Tax Loss Harvesting

By: Kate Hennessy

Tax loss harvesting is the practice of selling an asset in your taxable investment account that has experienced a loss and replacing it with a similar asset to maintain the overall allocation within your portfolio. By realizing, or “harvesting,” the loss you are able to offset taxes on both gains and income.

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Tax Deadlines Extended to July 15, 2020

By: Susan Powers

In March, the Treasury Department and Internal Revenue Service announced the deadline to file and pay taxes is automatically extended from April 15, 2020, to July 15, 2020 in an effort to give taxpayers more time to deal with their taxes amid the coronavirus outbreak.

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Protect Yourself From Yourself

By: Kate Hennessy

As schools closed, people around the world began adjusting to a new norm of “social distancing.”  These measures were adopted to stem the spread of the Coronavirus and guard against its economic impact.

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