More than 30% of all charitable giving occurs in December, and that over 10% of donations are made in the last three days of the year. The year-end holiday spirit may be a factor in the early winter philanthropy, but taxes probably play a role, as well.
Tax planning now, amid new tax legislation debates, is critical for businesses to stay ahead and manage effectively. The more prepared a business is now, the more ready it is for adjustments that will come with new tax legislation. One aspect of tax planning to consider, is equipment expensing and bonus depreciation.
IRAs mainly come in two broad categories: traditional and Roth. A Roth reversal can result in a substantial stream of cash flow, moderately taxed, for you or your beneficiaries - or both.
The Paid Family Leave (“PFL”) law coming into effect on January 1, 2018 will be employee funded. The PFL benefits will be provided through insurance coverage, included under the employer’s mandatory disability benefits policy. Due to the intricacies of the law, it is important for employers to fully understand and prepare for the new requirements heading into July. While coming into effect in January, employers are eligible to start deducting from payroll beginning in July in order to fund the policy.
The second-best investment you can make is paying off high interest rate debt. That could come after you’ve contributed enough to your 401(k) to get a full match from your employer. What should come next? If you have no expensive debt to pay down and you’re getting the full employer match, where should you direct your money? Here are some suggestions.
Investors may put together their own asset allocation, or they might work with an investment professional. Either way, the challenge is to maintain the desired allocation through the ups and downs of the financial markets. The answer generally recommended by financial advisors is to rebalance periodically.