Charitable giving has certainly changed in 2018. A new tax regime has been passed into law, called the “Tax Cuts and Jobs Act.” The main change that is relevant for charitable giving is whether (or not) you can still itemize your deductions on your income tax return. Why is that relevant? Charitable giving is part of your itemized deductions.
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Charitable Giving Ideas to Benefit Those in Need & Your Family
[fa icon="calendar'] Nov 5, 2018 10:03:27 AM / by Martin E. Levine, CPA, ChFC, CAP
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“Conducting” the tax strategy of your clients
[fa icon="calendar'] Apr 10, 2018 10:00:00 AM / by 4Thought Financial
A tax professional can act similarly to a “conductor” in an orchestra. They direct the tune, the instruments used and how the end product sounds. They can make the appropriate changes as they see fit and understand how powerful their actions are in making the show.
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How Can CPAs Mitigate Their Client's Risk? Ask “How Does This Tie In With the Rest of Your Finances?"
[fa icon="calendar'] Mar 1, 2018 10:56:00 AM / by 4Thought Financial
Investment professionals and entities alike should always ask “How Does This Tie In With the Rest of Your Finances?”. It is an important enough question that even from service providers such as attorneys and CPAs, often does not get asked enough to their clients.
Asset Allocation Model Explained
[fa icon="calendar'] May 4, 2017 9:52:33 AM / by 4Thought Financial
A wealth of assets is the primary goal of almost everyone, from individuals to small businesses and large corporations. However, any financial advisor will tell you that it's never a good idea to invest all your money in one type of asset -- even cash. You've probably heard of asset allocation, and you may even have a general idea of what it means. But do you know how to make it work for your situation? This guide should help.
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How Can CPAs Help Optimize Conservation of Capital? “Embrace the Next Generation”
[fa icon="calendar'] Jun 16, 2016 10:57:18 AM / by 4Thought Financial
Professionals often make the mistake of not working and planning alongside the heirs of their clients. Not exploring the wishes of both clients and their children not only causes miscommunication in the development of a plan that efficiently transfers assets but also may displace the professional relationship in the future.
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Embrace Technology & Methodology Together To Optimize Conservation of Capital
[fa icon="calendar'] Jun 16, 2016 10:57:00 AM / by 4Thought Financial
Financial professionals are starting to grasp the power of technology as a tool to manage client assets. A savvy financial professional will not only utilize technology but will develop a corresponding investment methodology and strategy behind it.
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Utilize SMAs with Unique Investment Strategies to Mitigate Your Client's Risk
[fa icon="calendar'] Jun 16, 2016 10:56:34 AM / by 4Thought Financial
Investment professionals can utilize specialized Separately Managed Accounts (SMAs) as a way to mitigate the risk of their clients. SMAs can be customized by investing in certain securities or certain strategies. They may, for example, wish to screen for equities or fixed income and invest according to a selective or opportunistic strategy.
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Have A Difficult Conversation Now to Optimize Transfer of Wealth
[fa icon="calendar'] Jun 16, 2016 10:56:18 AM / by 4Thought Financial
The subject of what to do with assets after retirement or death is an understandably difficult topic to address. Upset family members, lost documents and the absence of the grantor after death are among some of the difficulties that tax professionals face. But the ultimate difficulty lies in having the conversation in the first place.
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Identify Unique Goals and Strategies to Optimize Transfer of Wealth
[fa icon="calendar'] Jun 16, 2016 10:56:09 AM / by 4Thought Financial
Clients want to utilize their wealth to meet unique goals that they have. Charitable gifting, leaving assets to family members or even having enough for one last hurrah with friends requires a unique investment strategy for unique goals.
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Diversify The Tax Harvest To Simplify Asset Allocation
[fa icon="calendar'] Jun 16, 2016 10:55:48 AM / by 4Thought Financial
Tax loss harvesting involves the selling of a security that has experienced a loss. By selling the security, the investor realizes or "harvests" that loss and is able to offset taxes on both gains and income. The security that was sold is replaced by a similar one, which maintains the optimal asset allocation.
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