Bruce Primeau, CPA, CFP®, PFS |
A Donor Advised Fund (DAF) could be an excellent strategy to consider for people that are charitable, for the following reasons: Instead of donating cash to charitable organizations, you can instead donate appreciated securities from your taxable portfolio. These securities are immediately diversified and can be invested in a manner to potentially grow the balance so one can give away more to a charity(s). Note that a donation to a DAF is irrevocable and the...
Bruce Primeau, CPA, CFP®, PFS |
Do you want to help your kids get off to a good start – even more than you likely already have? If they have earned income, help fund their Roth IRAs! What better gift to get your kids off and running than with an account that grows tax-free and comes out tax-free in retirement. My wife and I have been doing this for our kids (who are now in their 20s) for quite a few...
Summit Wealth Advocates |
Another tax act has just become law and a few of the provisions could impact you. Here are some of the changes coming from SECURE Act 2.0 that we feel you should be aware of. Required Minimum Distributions (RMDs): The age to start taking RMDs increases to age 73 on January 1, 2023 and to age 75 in 2033. Note that if you turned age 72 prior to 12/31/2022, you will need to take your...
It’s that time of year again where daylight is getting shorter, temperatures are getting cooler, and it will soon be open enrollment time for your 2023 benefits. We provide the following information to remind you of some important decisions you may be faced with and to encourage you to reach out to an SWA advisor with any questions you have. Important Items to Consider and Take Advantage of: Health / Dental Insurance and Health Savings...
Summit Wealth Advocates |
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We received quite a few questions regarding the Student Loan Forgiveness piece we sent a few weeks ago and thought it may be beneficial to send a follow up piece sharing those questions and answers with everyone.
Summit Wealth Advocates |
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The information on the student loan forgiveness is causing quite a lot of debate. We are not taking sides on this one but rather giving you the information we have as of now. It changes rapidly.
Despite the toll of COVID-19 on the global economy, stock market returns were favorable in 2020 and 2021. The first 2 months of 2022, however, have not been so kind, reminding us that long-term growth in capital comes with risk.
For those who just want to skip to the end: For the stocks that have recently surged due to short squeezes, the likely ending is a 50-90% drop in prices from where they trade today, back to levels that are rational for longterm investment purposes.