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Pursuing your retirement dreams is challenging enough without making some common, easily avoidable, mistakes. Here are eight big mistakes to watch out for:    1. Not Planning: Yes, the biggest mistake is having no strategy at...

As economists debate interest rate increases investors face a straightforward question: How have various asset classes performed during periods of high and low inflation? What have we learned from a 44-year study? Data may support . . .

Millions of high-earning Americans are slated to lose a popular tax deduction starting next year.  Catch-up contributions will have to be done after taxes for those who make more than $145,000. Savers ages 50 and older. . .

 Gov. Pritzker signs a law to prevent his policies from being overturned in courtProgressives are on the march in Illinois, and they want to make sure their new policies can’tbe overturned in state court. Solution: Pass a...

In the rising temperatures of summer, OPEC+ has agreed to boost flagging oil prices. Saudi Arabia announced it will cut July production to 9 million BPD. That's 1 million less than in May. Higher prices at the pump could be avoided if ...

Have you noticed that “Mr. Wonderful” (the obnoxious Kevin O’Leary of Shark Tank and O’Leary Capital) has finally gotten on the bandwagon touting the ERC – Employment Retention Credit? He’s not only...

Two special counsels, several inspector general reports and six years later, special counsel John Durham’s report makes clear that a partisan FBI became a funnel for disinformation from the Hilary Clinton campaign and an indictment of . . .

The irrevocable life insurance trust (ILIT) can be an important estate strategy tool that may accomplish a number of estate objectives. Most importantly, it provides ready cash at death that is separate from the taxable estate and . . .

A recent survey reported that 68% of parents had made financial sacrifices to support their adult children. It's often a difficult decision that can stress relationships, impact retirement strategies, and harm overall financial...

When events like Silicon Valley Bank (SVB) and Signature Bank happen, it's natural to wonder how a bank safeguards your funds. Fortunately, the Federal Deposit Insurance Corporation (FDIC) was designed for this very reason . . .

I have been frustrated for years that our insurance failed to cover our prescription costs. Even after insurance, our yearly bills have passed $2,500. Our neighbor's are over $1,600. Finally, there is an answer, a fixed price for free . . .

This time of year has usually signaled the pending arrival of Spring, but after more cold weather. This year, so far, is also upside down in finances and inflation-accepting behavior. We can help you make better decisions . . .

The story of Presidents' Day began in 1800. After George Washington’s death in 1799, his February 22 birthday became a perennial day of remembrance. Washington’s Birthday became a federal holiday in 1879. Initially, it applied only to . . .

As the biggest sporting event of the year approaches, football fans all over the nation (including me) are gearing up for the Big Game on Sunday, February 12, at 6:30 PM ET.For many, Sunday means a day of tasty tailgating and...

Sometimes the most sensitive question in family succession planning is “Who gets the office?”Dad’s (or Mom’s) office is usually perceived as the center of authority by the employees and other family members....

House Democrats released Donald Trump’s tax returns to the public and in the process did more harm to their reputation than to the former President’s. The dump is a clear violation of long-standing IRS policy with no legitimate . . .

In the final days of 2022, Congress passed new Qualified Plan rules to make it easier to contribute to retirement plans and access those funds earmarked for retirement. The law is called SECURE 2.0, a follow-up to the SECURE Act of 2019...

This editorial was written in 1949 by the late Vermont Royster.  When Saul of Tarsus set out on his journey to Damascus the whole of the known world lay in bondage. There was one State. Rome; one Master, Tiberius Caesar . . .

As a youth, school let me test my mettle against the history and literature books I carried home. My body may have been trapped in poverty, but my mind was free to wander. Much like it was for my ancestors ...

Tom Hegna’s live webinar for our clients last Tuesday was a blast!People are calling and asking how we got him and how inspired they feel having heard him.Unfortunately, not everyone could get on.  Also, due to numbers...

Behind in planning for your 2022 income tax bill?  Here are some last-minute tips: Get a quick estimate of your taxes and your bracket, then use these tips to reduce your tax exposure and your bill . . .

With such high inflation, most of us want a safe vehicle to keep up with rising prices. A Series I Savings Bond that gives investors a fixed rate plus inflation protection can be it. Buying I Bonds through Treasurydirect.gov is easy . . .

The hurricane season arrived in dramatic fashion last week.Hurricane Ian was a significant event that brought massive winds and extremely high storm surges and flooding to Florida and the neighboring states.Georgia and the Carolinas...

Have you ever had one of those months? The water heater stops heating, the dishwasher stops washing, and your family ends up on a first-name basis with the nurse at urgent care. Then, as you're driving to work, you see smoke coming...

The Inflation Reduction Act signed into law this month deals mostly with climate change and Medicare. The latter has received less coverage, but experts say it could change the lives of retirees — potentially saving them thousands . . .

Now it is clear why the media hardly mentioned Pearl Harbor this year.  When I was a kid, I couldn't understand why Eisenhower was so popular.  Maybe this will offer one reason why: General Eisenhower Warned Us . . .

If you’re trying to get an inside edge on Wall Street, you’re probably paying attention to an array of statistics and measurements. But there’s one indicator you might be overlooking or misreading.I’m talking...

Stop me if you heard this already—roughly half the population wasn’t alive last time inflation was at this level. It’s true. Raiders of the Lost Ark was the #1 movie at the box office the last time prices were rising at a rate of . . .

Retirement can have many meanings. For some, it will be a time to travel and spend time with family members; for others, time to start a new business or support a charity. Regardless, here are 9 things about retirement that may surprise ...

Cinco de Mayo (Spanish for "Fifth of May") is a yearly celebration that commemorates the anniversary of Mexico's surprise victory over the occupying French Empire’s troops at the Battle of Puebla. Celebrated widely among Mexican Americans –

Consumer inflation has risen 7.9% over the past year, the largest spike since 1982— no surprise for anyone who has visited a gas station lately. While tempting to blame these prices on Russia, that is not the cause . . .

I promised myself years ago, I would re-post this. Rings true. . . EVERY - SINGLE - TIME!!! Read all the way to the end. 25 years ago, 4,000 baseball coaches attended the ABCA convention in Nashville. An old, retired coach made us snicker

Social Security has complex rules, and most Americans don't know them. A recent survey by Harris Polls, showed more than half of adults surveyed answered 10 key true/false questions about the retirement benefits incorrectly. Take the quiz.

The IRS has released updated "life expectancy" tables. Those who take required minimum distributions (RMDs) from qualified accounts may already know how to use the tables to calculate their RMD. Here is advice and the new table III . . .

Avoid these common tax mistakes when you file your 2021 tax return. Tax season is coming up (did it ever leave?) and with it the risk of a high tax bill or even an audit. When you file there are some easy-to-make mistakes you need to dodge.

If you zoom out and look at the big picture, the challenge of improving your bottom line optimization is simple – theoretically, at least. You can increase your revenue, you can lower your expenses, or you can do both. Here are 7 ideas ...

On Veterans Day, it’s hard to look away from the catastrophe in Afghanistan. The consequences of a war lost through incompetence, delusion and self-defeat will reverberate beyond South Asia. In America, the lack of commitment to...

NO TIME TO DIE Director: Cary Joji Fukunaga The latest James Bond film (of 25) crashed through the Pandemic onto wide bombastic screens to a loyal public anxious for thrills, a clever plot, humor, beautiful girls and classy repartee....

It can be incredibly difficult to make sense of data. A report coming from one body may tell you one thing, and another report might seem to offer a wholly different perspective.Such is the case with August’s jobs numbers from...

Your workplace retirement account can play a critical role in your overall retirement strategy. CNBC eported that 401(k) accounts are at all-time highs...

YOUR AFTERNOON NEWS UPDATE AND MARKET ACTION FROM CNBC AS OF TUE, JUL 13, 2021 • 11:55 ET The CPI report out this morning wasn't pretty. Prices are up 5.4% from last June, the most since 2008 (the core yearly gain of 4.5% is the...

Need help getting started with your estate plan? This checklist will help you understand and track the important documents and elements you'll need to consider. Consider it as an...

Recently, you may have seen headlines regarding the Securing a Strong Retirement Act, also referred to as the second version of the SECURE Act, or SECURE Act 2.0. As the bill moves from the House of Representatives to the Senate, many...

Most of us who can still remember Chet Huntley, know him as the slightly less polished member of ‘Huntley and Brinkley,’ a nightly news show (1956-1970) that mixed news reporting with incisive commentary, sometimes witty,...

A living trust is a popular consideration in many estate strategy discussions, but its appropriateness will depend upon your individual needs and objectives. What is a Living Trust? A living trust is created while you are alive and...

As your beauty fades, so will his eyesight Housework can't kill you, but why take a chance? Cleaning your house while your kids are still growing up is like shoveling the sidewalk before it stops snowing. The reason women don't play...

Did you know that more than $11.2 trillion in assets are benchmarked to the Standard & Poor’s 500 Composite Index, including $4.6 trillion in index assets?1,2 The S&P 500 is ubiquitous – we see it on the news, read about it...

The traditional Sussex County Memorial Day Service will be held on the Circle in Georgetown, Sunday, May 30th at 1:30 PM sponsored by the Georgetown Kiwanis Club, Korean War Veterans Association and the Georgetown-Millsboro Rotary Club...

High net worth investors face investment challenges that some would consider unique to their financial status. The fundamental tenets of investing apply equally to them as with any other investor, but the affluent investor needs to be...

During your accumulation years, you may have categorized your risk as “conservative,” “moderate,” or “aggressive” and that guided how your portfolio was built. Maybe you concerned yourself with...

Now and again, the price action on Wall Street can surprise even the most seasoned investors. Look no further than when President Biden in late April proposed an increase in the tax on capital gains to 39.6% from 20% for those...

Short-term Inflation has emerged as a top concern of investors as they size up the economy. According to Deutsche Bank, Google searches for “inflation” are rising rapidly. Fed Chair Powell stated short-term rates will be restrained thr. . .

After working with investors for more than 50 years, I have learned many things about human nature. Especially when it comes to people’s money. Value Investing Requires Intelligent Patience. Perhaps the most vivid lesson I have...

It’s never easy to look at an important subject like family business succession planning and offer just three big takeaways to help families protect their hard-earned wealth. But after delivering more than 800 speeches in more...

by Peter Schiff of Euro Pacific Capital, 4/6/21 Recently, a piece of collage art entitled “Everydays: The First 5000 Days,” by an artist known as Beeple, sold at a Christie’s auction for $69 million. The Wall Street...

For those with a Dependent Care Flexible Spending Account (FSA), there may be some good news on the horizon. The American Rescue Plan Act, signed into law by President Joe Biden, boosts the amount that companies can allow workers to...

The Internal Revenue Service estimates that taxpayers and businesses spend 8.1 billion hours a year complying with tax-filing requirements. To put this into perspective, if all this work were done by a single company, it would need...

Seldom do I reread something for pleasure, but when I stumbled across my copy of Clarence Day’s short ‘memoir’, God and My Father, I gave in. 90 years after it was published in 1932, it still limns beautifully the...

The House of Representatives passed a $1.9 trillion relief package focused on economic relief following the COVID-19 pandemic. The bill was signed into law at the White House on Thursday.1 Beyond the much-discussed $1,400 stimulus...

Perhaps. Let me give you my perspective. Rule #1: Live below your means. Rule #2, see rule #1. Rule #3, keep a minimum reserve for emergencies. Rule #4: After that, take whatever you have saved and look to invest it so it will 1 earn...

On Monday, Feb. 22, the White House announced several changes to the Paycheck Protection Program (PPP) that went into effect on Wednesday, Feb. 24. These changes are intended to further target “the smallest businesses and those...

The acronym “SPAC” is showing up more often these days because there is some big money behind the revitalized investment approach. SPAC stands for Special Purpose Acquisition Company, and they are sometimes referred to as...

Federal Estate Taxes have provided government funding almost since our founding. In 1797, Congress required revenue stamps to be applied to wills and property transfers to fund wars and expeditions only to be repealed in 1802

At this time last year, it was still unknown that a deadly global pandemic was on the rise, eventually stalling economic growth and sending crude oil prices into negative territory. But recently, oil prices have surged, with crude...

What's your "go-to" source for financial information? "Family and friends" is the #1 answer given in the annual Retirement Confidence Survey. But a close second is search engines and other online tools, including online forums like...

Jeff Bezos, one of the wealthiest people in the world, announced he would take a different role at his company, Amazon. For one of the largest companies in the world, the story can jump from Wall Street to Main Street, roiling markets . . .

The Year of the Ox is almost here – time to bring out the red envelopes, light up the sky with fireworks, and bring in the new. February 12th marks the beginning of the Year of the Ox. The second animal of the Chinese zodiac, the...

You may have heard the news about certain stocks suddenly ballooning, quickly going from lunch money prices to several hundred dollars a share. In one case, the shares rose over 1700% since December. So, what gives?...

The personal savings rate in the United States, which is the amount of income left after taxes and household spending, has reached some significant milestones. In April, when much of the country stayed home to avoid the COVID-19...

This month, America honors the legacy of Dr. Martin Luther King, Jr. As we look around today, we see manifestations of that legacy in the form of stronger, more diverse communities, in the continued fight for equality, and in the...

Trinity College’s foremost Joyce expert, Kevin Coyle, is murdered on Bloomsday and Dublin's Chief of Detectives. McGarr, tries to tie it to Ulysses despite his aversion to Joyce and the insipid characters in Coyle's life. . .

Patrick Kelly’s vaunted major opus, Tax-Free Retirement, lives up to the hype. Taxes and other perils are set to destroy your retirement income. He shows how to defeat these demons and secure tax-free income in retirement. . .

Charles de Gaulle once remarked, “The graveyards are full of indispensable men.”¹ While we know that life goes on regardless of the loss of any “indispensable” person, for a small business, the loss of a...

If you have had any previous experience with a financial advisor, chances are the conversation revolved around (A)”how much money do you have,” (B)”where is it located,” and (C)”we can do a better job...

Final article covering false retirement assumptions or Myths including lifestyle and financial expectations and what you should expect and can do to avoid losses and disappointment in retirement. . .

Ronald Reagan loved to use memorable, colorful stories to make a point. The Little Red Hen is his Orwellian lesson on Basic Economics. You see, there was once a Little Red Hen who uncovered some grains of . . .

PART ONE My earlier articles on retirement provoked many requests for more “direction” regarding retirement planning. Each retiree's needs are personal and unique. Let me dispel 10 false beliefs about retirement in two articles ...

We have helped hundreds of clients retire comfortably. Retirement lifestyles vary and can take unexpected twists and turns. Is your retirement planning robust enough to accept wrenching new decisions and developments. Some choices proved

The due date for Income Tax filing is July 15th is the ‘new’ April 15th -- “Tax Day.” Taxes have been a source of frustration, anger, lobbying and fudging for millennia.... some favorite quotes about taxes from Ben Franlin, Will Rogers, et

Ben Franklin said, “..nothing is more certain than Death and Taxes.” How you meet and deal with them may write your epitaph. For those of us operating a ‘pass-through’ business –- one that files federal...

With the Covid-19 virus keeping us sequestered and working from home, we are learning new things every day – like where the dog dozes most of the day, what snacks we don’t have and maybe how to go ‘stir crazy.’...

We are currently in the early stages of the greatest wealth transfer in modern times, if not in all of recorded history. Almost $12 Trillion in private, mostly small businesses will be sold, fold or survive a change of ownership in .....

While Small Business is the ‘Backbone of our Economy,’ Family Business is its DNA. Think of the family farm when the family lived over the livestock, then the butcher lived over the butcher shop, the owner over the...

As consultants to “small business” we have found most successful owners and entrepreneurs do the same things to assure their success. A ‘Small Business Manual’ does not exist. Textbooks are filled with advice on...

There is a lot of talk today about gender discrimination. Some politicians want to simply legislate that gender is always neutral and some want to invent a third sex, with special bathrooms. This is all nonsense. Yes, there is a...

Your work environment and your outlook impact your health. Maintaining your health and wellness at work requires several steps to reduce stress and create awareness of the hazards to your well-being.

“Over and over again courts have said that there is nothing sinister in so arranging one's affairs as to keep taxes as low as possible. Everybody does so, rich or poor; and all do right, for nobody owes any public duty to pay...

When builder George P phoned to ask how we work with clients, it became clear he would rather repair a roof in a snowstorm than meet with me. However, his accountant insisted. I tried to answer When a builde in kind. I said, “We work the...

For many, the term “401k” or “403b” is synonymous with retirement preparation and sometimes is the full extent of their financial preparedness. Such accounts are usually part of an employee benefits package and...

Consumers are seeking information, even instruction, about personal finances. Some, for specific goals such as retirement or college expenses; some is simply to learn how to make ends meet or to become more confident or wealthy . . .

Your child isn't the high school valedictorian? Qualify for a scholarship? In fact, thousands of dollars are awarded each year for the most unusual things. Consider these: Right-handers need not apply. Frederick...

Here are some counter-intuitive thoughts: If you won the lottery today would you put your money into an account that earns zero interest? When you pay off your mortgage, you reduce the interest you pay on your loan, but you no longer...

Did you remember to review your Estate between Christmas and New Year’s? 2019 is in full swing. Now is a good time to review your estate documents. Are your Estate Planning documents in place and current? It is important you...

Your partner is Uncle Sam and he makes the rules. Those rules can change at the stroke of a pen. You do NOT get a tax deduction when contributions are made. You receive an income reduction and defer the tax liability. You or your...

A professor brought a large clear jar into class. He set it on the lab table in front of him. He reached under the table and began to fill the jar with smooth river rocks and told the students to stop him when the jar was full. Soon...

What if you had to buy a new car each year for four years, at least, and you couldn’t drive them? Sound absurd? That’s the cost of a College Education. Whether you pay for a fleet of Honda Civics, Priuses, or loaded...

I am happy to say that my condition will soon better. I owe it all to Dr. M. My Family Doctor, Dr. M of Bayhealth in Milford examined me when I complained that my nose was invariably stuffed beyond breathing every morning and was...

I hate losing money. I don’t like to spend money when I don’t know if I what I buy will get used. But, I DO buy fire, auto, and health insurance, etc. The truth is I couldn’t sleep without these protections. In a...

The 28th annual Retirement Confidence Survey for 2018 sponsored by multiple banks, brokers and AARP of 2,000+ retirees and workers shows some interesting results. Notably, retirees are less confident about their money holding out. They...

Boy Scout motto: ‘Be Prepared’ Owners planning to exit their businesses in the next decade, voluntarily or not, may be in for a rude awakening. A successful transfer is the result of careful preparation. “Plan for the...

I am a die-hard fan of The Profit, the TV program that showcases Marcus Lemonis’s attempts to rescue failing businesses. His mantra – People, Process, Product – rings true and is proven over and over again. But...

A boy asks a wealthy businessman how he is able to make money without being a wage-earner like most other grownups. The businessman is amused... “I will tell you...

The short answer is, “Yes.” Well, maybe. Most likely. Contrary to the rumors, the charitable deduction is unchanged. However, the applicability of the deduction – claimed by those who file using itemized deductions...

“The Real Cost of a Vacation Home” – Rebuttal A few weeks ago, a video was sent to my email list and to my ‘friends’ on Facebook, Twitter and linkedIn. As sometimes happens, I failed to review the video...

In the last two days different people expressed the same sentiment with which I found myself in whole-hearted agreement. One man mentioned that he insisted his daughters pay a part of their college expense from money they earned...

WHAT IS A CONUNDRUM??? Free people are not equal. Equal people are not free. (Think this one over and over… makes sense!) A gun is like a parachute. If you need one, and don't have one, you'll probably never need one again. The...

Investment salesmen have been touting their company inventory rather than the best available selections. The Department of Labor has ordered investment sales organizations to act as fiduciaries for their customers

The cost of College can be extremely expensive: Now $14 to $62,000/year growing 5-8% annually. Saving smarter will stretch those dollars, avoiding tax and excess risk, while offering unique flexibility. Permanent life . . .

If, when you hear R&D, you think of people in lab coats tinkering with chemicals, ultra high-tech industries and Fortune 500 companies, you are not alone. However, things have changed!In 2001 the IRS changed the definition of R&D and...

A soldier sleeping during an airport layover with his canine partner.There is no measure of loyalty greater than that shown here.Sleep soundly soldier.A worthy goal in life is to be as good a person as your dog thinks you are!God...

A simple case study. [specialized tax incentives] Cost segregation has the effect of increasing depreciation deductions which in turn reduces taxable income, and in turn minimizes taxes paid and maximizes cash flow. This article...

The Workers Opportunity Tax Credit [WOTC] applies if you hire specific types of employee. Credits run from $1,200 to $9,600 depending on the individual. The average is $2,400. A taxable business may apply the credit against its...