When working with a Registered Investment Advisor (RIA), investors may have heard the term “custodial relationship.” This refers to a partnership between the RIA and a financial institution that acts as the custodian of the client’s investment assets. For example, Ballast Advisors uses Charles Schwab as custodian for client investment assets. However, recent events involving … Read more
Reducing your tax liability can literally save you thousands of dollars Tax season can be a stressful time for many people, especially if you’re not fully prepared. However, with some advance planning and preparation, you can take steps to reduce your tax bill for the upcoming year. Here are 7 things you can do now … Read more
Once you have provided for your own personal expenses and retirement, it may be time to consider how your money could benefit others.
Giving away some of your money is a great way to support the people and organizations you love. But choosing the right strategy is essential for minimizing your taxes and meeting your personal goals.
Introduction After a rough year in the market, it’s rare an investor didn’t experience losses. How you treat those losses come tax time can mean a lot in the long run of your financial plan. “Good portfolio management focuses on after tax rate of returns,” says Ballast Advisors Managing partner Paul Parnell. Tax harvesting is … Read more
What are appropriate checklists for year-end tax planning? Tax planners often develop checklists to guide taxpayers toward year-end strategies that might help reduce taxes. Typically, suggestions are grouped into several different categories, such as “Filing Status” or “Employee Matters,” for ease of reading. When year-end approaches, it might be wise to review each suggestion under … Read more
Market downturns, like the one through the first half of 2022, could be a good time to adjust your fund portfolio to minimize the tax bite. Here’s how to calculate the best ways to do that – now and in the future. Taxable accounts you hold longer than a year incur long-term capital gains taxes … Read more
“Money makes money. And the money that money makes, makes money.” Since the beginning of the year, economists and pundits seem united in the belief that economic growth will continue to contract, propelling inflation and interest rates to levels that we haven’t seen in years. When the Federal Reserve lifts the fed funds rate … Read more
The CHIPs and Science Act of 2022, signed into law on August 9, is a bipartisan legislation package that provides more than $50 billion in direct financial assistance for semiconductor companies to increase U.S.-based design, research, and manufacturing capabilities. In addition, the legislation authorizes nearly$170 billion in federal funding over five years for research and … Read more
Did you inherit an IRA? What you need to know about new IRS rules for your financial plan If you recently inherited an IRA or stand to, this is for you. The complexities of an inherited IRA (or individual retirement account) is a hot topic right now among financial planners, estate attorneys and tax professionals. … Read more
The standard definition of a bear market is when major U.S. stock indices, such as the S&P 500, drop by 20% or more from their peak. And 5+ months into 2022, we see NASDAQ and the smaller-cap Russell 2000 both in the grips of a bear and the DJIA and S&P 500 darting just outside … Read more
