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Tag: Jeffrey

26 posts tagged as "Jeffrey"

Year-End Financial To-Do: Review Your Estate Plan

Dec 29, 2020

By Jeffrey R. Wolfe, Senior Vice President, Manager of Wealth Planning Strategies

So, you’ve made it through Christmas and the year of COVID-19. We’re almost to New Years and hopefully better times. That said, life’s responsibilities remain, and it’s a good idea to review your estate plan should something happen to you or a loved one.

First, make sure you have a plan in place! It’s estimated that over 50% of adult Americans do not even have a plan in place.

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Year-End Financial To-Do: Decide Whether to Take or Defer Gains and Deductions

Dec 10, 2020

By Jeffrey R. Wolfe, Senior Vice President, Manager of Wealth Planning Strategies

As a vexing 2020 comes to an end, it’s a good time to review your tax situation for opportunities to pay less taxes or pay taxes at a lower rate. There has been a significant amount of volatility in the markets this year, so consider reviewing your portfolio, other investments and your projected income to see where you may find yourself on the tax bracket spectrum.

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Year-End Financial To-Do: Making Annual Gifts to Family and Unique Charitable Giving Opportunities for 2020

Dec 3, 2020

By Jeffrey R. Wolfe, Senior Vice President, Manager of Wealth Planning Strategies

Many love the feeling of a satisfying gift to a loved one. For those that may face a potential federal or state estate tax, making annual gifts to loved ones can feel even better because it may keep possible tax dollars away from the government. Under federal law, every person can gift up to $15,000 per person per year.

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Scary Financial Mistakes: Dying Without an Estate Plan

Oct 29, 2020

By Jeffrey R. Wolfe, Senior Vice President, Manager of Wealth Planning Strategies

As the Scary Financial Mistakes blog series comes to an end, we turn to another necessary end: end of life issues. Many people fear death, some embrace it, but regardless of your perception, it’s coming. One thing you can do to prepare for this, and to help make things less scary for you and your family, is to have an estate plan in place.

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Will the Election Affect Wealth Transfer Tax?

Oct 21, 2020

By Jeffrey R. Wolfe, Senior Vice President, Manager of Wealth Planning Strategies

As the election nears, and in an effort to continue to bring attention to Estate Planning Awareness Week, I have been asked by many whether a change in the President will lead to a change in the transfer tax regime (e.g. gift and estate tax laws). Let’s take a look.

First, it’s important to understand where we are today.

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Consider Ways to Minimize Your Tax Bill

Aug 28, 2020

By Jeffrey R. Wolfe, Senior Vice President, Manager of Wealth Planning Strategies

We all look to create the best portfolio for our personal goals. Some of the important choices to help do that include whether you should invest in a stock as opposed to a bond, selecting growth or value-oriented investments, following industry trends, certain sectors, etc. Making these decisions can become overwhelming, but you also need to consider another deciding factor: taxes.

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Make Your Wishes Known Should the Unthinkable Happen

Aug 14, 2020

By Jeffrey R. Wolfe, Senior Vice President, Manager of Wealth Planning Strategies

If 2020 has shown us anything, it’s that you never know what may be around the corner. Quarantines, closings, video meetings; no one saw that coming. In short, what this means is you need to plan for the unexpected.

One key area of planning – especially highlighted by the pandemic – is the need to have a health care directive or a living will.

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Forgettable Financial Issues to Review Because of COVID-19

Apr 28, 2020

By Jeffrey R. Wolfe, Senior Vice President, Manager of Wealth Planning Strategies

With the COVID- 19 pandemic there are a lot of changes in the world.  Wearing masks in public, maintaining social distancing guidelines, etc. – it can be a lot.  With all these changes, you may be overlooking a few key financial issues that could cost you in the long run.  Here are some things to consider:

  • FSA Contributions – If you make Flexible Spending Account contributions for things like child care,

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Tax Tip Tuesdays: Action Plan for 2020 Taxes

Apr 14, 2020

By Jeffrey R. Wolfe, Senior Vice President, Manager of Wealth Planning Strategies

So, the traditional end of tax season would be tomorrow, and while the tax world has been pretty uneventful this year, everything else this year has been anything but normal.  There have been some changes due to the SECURE Act, but the Covid-19 virus has rattled many things.  Let’s take a look at what we’ve discussed during this Tax Tip Tuesday series,

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Tax Tip Tuesdays: Higher Income Means More Taxes and Likely Less Deductions

Mar 31, 2020

By Jeffrey R. Wolfe, Senior Vice President, Manager of Wealth Planning Strategies

While tax rates these days are historically low, there are still a few taxes that continue to affect more and more people each year.  Many tax thresholds are indexed for inflation, like the AMT tax exemption.  However, other tax thresholds like the .9% Medicare Health Insurance Surtax and the 3.8% Net Investment Income taxes are not indexed for inflation.

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