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Leverage innovation and benefit from financial credits and incentives   In today's rapidly evolving business environment, standing still is not an option. The companies that thrive are those that innovate, adapting to change and embracing new technologies. Innovation is more than just a buzzword – it's a vital strategy for future-proofing your business. Here's how small businesses can leverage innovation and benefit from a range of financial credits and incentives. Res

Why most investors are not at all positive during a bull run – and miss out   In the world of investing, there are few phrases as exhilarating as "bull market". These words conjure images of an economy burgeoning with opportunity, a period when stock prices are on a steady upward trend, promising lucrative returns to those invested. And yet, an intriguing anomaly persists: many investors remain decidedly pessimistic, even in the midst of a bull market. To the uninitiated,

What is it? A gift is a voluntary transfer of money or property from one person to another person or entity (such as a trust) where the person making the gift receives either nothing or a lesser amount of money or property in return. In the context of education planning, gifting is usually implemented as a strategy when parents want to shift income to their child and reduce taxes. This ability to shift income and reduce taxes works best when the parents are in a high tax bracket and the child i

The IRS recently released the 2024 contribution limits for health savings accounts (HSAs), as well as the 2024 minimum deductible and maximum out-of-pocket amounts for high-deductible health plans (HDHPs). What is an HSA? An HSA is a tax-advantaged account that enables you to save money to cover health-care and medical costs that your insurance doesn't pay. The funds contributed are made with pre-tax dollars if you contribute via payroll deduction or are tax deductible if you make them your

A successful investor maximizes gain and minimizes loss. Though there can be no guarantee that any investment strategy will be successful and all investing involves risk, including the possible loss of principal, here are six basic principles that may help you invest more successfully. Long-term compounding can help your nest egg grow It's the "rolling snowball" effect. Put simply, compounding pays you earnings on your reinvested earnings. The longer you leave your money at work f

If you're new to investing, you may encounter some unfamiliar   jargon. Understanding the following   terms may help you become a more confident investor. Portfolio An investment portfolio is a collection of investments owned by an individual or an institution. Typically, a portfolio comprises a mix of asset classes such as stocks, bonds, and cash. An investor's risk tolerance, time horizon, and investment goals generally determine a portfolio's asset allocation.

One of the longest-standing debates in investing is over the relative merits of active portfolio management versus passive management. With an actively managed portfolio, a manager tries to beat the performance of a given benchmark index by using his or her judgment in selecting individual securities and deciding when to buy and sell them. A passively managed portfolio attempts to match that benchmark performance, and in the process, minimize expenses that can reduce an investor's net return

You will need to think about the disposition of your assets at your death and any tax implications.Statistically speaking, women live longer than men. So if you are married, you'll also probably have the last word about the final disposition of all of the assets you've accumulated during your marriage. You'll want to consider whether these concepts and strategies apply to your specific circumstances. Transfer taxes When you transfer your property during your lifetime or at your deat

Understanding the difference between taxable, tax-deferred, and tax-exempt accounts can improve portfolio diversification and make a difference in how much you earn over time. But investors may not fully understand how a strategy called asset location may help improve returns and lower their overall tax bill using these different types of accounts. Each account type has different tax rules and treatments, and understanding each may help you determine which accounts suit your situation. Here, we

Failing to raise the ceiling by June 1st could lead to short-term challenges   The debt ceiling, a crucial aspect of fiscal policy, has long been a subject of debate and concern within the United States. As the nation grapples with the possibility of not raising the debt ceiling by June 1st, it is essential to understand the historical context and potential consequences. And there are five asset classes that might face short-term struggles in the event of a failure to raise it. The Ev

On Monday, May 22, President Joe Biden and House Speaker Kevin McCarthy met at the White House to discuss raising the statutory limit on U.S. government debt, generally called the debt ceiling. Although both leaders termed the discussion "productive," there was no resolution, and their respective negotiating teams continued discussions.1 Here are some answers to questions you may have about the issues behind the current impasse.What is the debt ceiling? The debt ceiling is a statutory

Our 2023 investing outlook started with a theme of returning to normalcy. Considering 2022’s market volatility and the aftereffects of the pandemic, the idea of finding balance was certainly a welcomed change. It’s a theme we could all embrace six months ago and what we will continue to rally around through year-end. That’s not to say that 2023 hasn’t come with its own set of challenges. We saw two regional banks fail in rapid-fire succession in March—and another cl

How a Financial Professional Can Help You Apply Stephen Covey’s “7 Habits of Highly Effective People” to Your Investment Strategy In 1989, Stephen Covey, an American author, educator, and businessman, published his groundbreaking self-help book, 7 Habits of Highly Effective People. Regardless of income level, age, or career, anyone can learn and practice the skills he highlights in his book. Sometimes, however, it can be challenging for people to change their habits and in

For investors seeking stable returns in their fixed-income portfolio   Over the last 15 years, investment-grade bonds have modestly outperformed Treasuries, making them an attractive option for investors seeking stable returns in their fixed-income portfolios. But how many investors can articulate the reasons that have contributed to their outperformance or the potential benefits of including investment-grade bonds in a fixed-income portfolio? Why Investment-Grade Bonds? Higher Yields

A will is an important document most people don’t want to think about, but it’s crucial to have in place to protect your assets and ensure your loved ones receive what you want them to.It can be wise to have a lawyer write up the documents in your will to keep everything legally sound and eliminate any confusion. Before approaching a lawyer and putting pen to paper, think through the items below. Keep in mind your will won’t come together in a day because it can take time to ma

If you have always thought estate planning was just for those nearing retirement or already retired, think again. If you own a home, it is important to have a plan in place. Without a will or other arrangements that allow your home to pass to your closest loved ones, it is subject to your state's intestacy laws and probate, which may not result in the outcome you want. Here are five different ways your estate plan can pass your home on to your loved ones. Give Your Home as a Bequest One of

Estate planning helps disperse your assets according to your wishes. The effort may seem daunting at first, but estate planning does not have to be overly complicated. With the proper planning, you may find yourself resting a little easier knowing you have an estate plan in place. While an estate plan is personalized to the wants and needs of each person, here are a few tips to help anyone get started. 1. Create an Inventory of Physical Assets One of the first steps in creating an estate plan i

KEEPING IT IN THE FAMILY THROUGH GENERATIONAL GIVING What is family wealth, and how do you preserve it? You have worked hard for years and accumulated wealth. You earned this money through your job, investing, and saving, and you want to preserve it for yourself and to take care of the family you love. With the projected modification of the current legislation, 2023 looks like a year to potentially benefit those interested in creating a wealth transfer planning strategy through generat

Go out into your yard and dig a big hole. Every month, throw $50 into it, but don't take any money out until you're ready to buy a house, send your child to college, or retire.It sounds a little crazy, doesn't it? But that's what investing without setting clear-cut goals is like. If you're lucky, you may end up with enough money to meet your needs, but you have no way to know for sure. How do you set investment goals? Setting investment goals means defining your dreams for t

Have you ever noticed the topic of investing rarely comes up in casual conversation among peers? In this age of emotional intelligence, vulnerability is encouraged when discussing personal feelings, but vulnerability about finances isn’t as normalized. Many parents were not educated on investing themselves and therefore have no knowledge to pass on to their children. In addition, many children do not receive proper education on investing and finances through their school curriculum.As a re

After spending so much of your life saving for retirement, it may be challenging to transition from depositing funds to withdrawing them. You may wonder whether there is any way to maintain your lifestyle and preserve your wealth to pass down to your loved ones. It might be worthwhile to do some careful planning and ongoing maintenance. Here are three tips that may help you preserve wealth after retirement. Make a Health Care PlanUnless you are one of the few lucky enough to retire from a j

What is using trusts to gift your business? Using trusts to gift your business is a technique whereby, rather than gift your business directly to your beneficiaries, you transfer ownership of your business to a trust and then name your children, grandchildren, or others as the beneficiaries of the trust. The entire business may be transferred to a trust in one transaction, or the stock may be gifted to the trust over a period of time. The trust can be set up as either a revocable trust or an ir

Determining how your income impacts Social Security (SS) taxes is important for tax planning. Factors that determine how much pay SS tax you pay, depending on your circumstances, include: If you have income from working in retirement.If you are self-employed.If you receive interest, dividends, or other taxable income. You may pay SS tax if you: File an individual federal tax return, and if your combined income is between $25,000 and $34,000, you may have to pay income tax on up to 50% of

What is investment tax planning for stocks? Investment tax planning for stocks takes advantage of the tax rules with the goal of achieving the best after-tax return on these investments. Strategies will differ depending on whether you purchase common stock or preferred stock. What is common stock, and how does it generate earnings? Common stock is a form of equity that represents a share of ownership in a corporation. The shareholders of a corporation own the business and therefore benefit fr

With April’s federal tax filing and payment deadline on the horizon, Americans are dotting their i’s and crossing their t’s as they prepare for the countdown to Tax Day. But before you rush to get that return out the door, are you confident you have everything in order to make your tax filing go as smoothly as possible? Here are five last minute details to double check before Tax Day. Ensure Your Paperwork Is In OrderIt is important to ensure that necessary documents (digi

March is Women’s History Month, a month-long celebration of female empowerment1. This effort includes advocating for better representation in the workforce, pay parity and improved work-life balance. There are some specific steps that women of all ages and all stages of life may take to manage their financial future. Here are some economic challenges women face and how they overcome them. Challenge 1: Women Live Longer Longevity is a good thing—but when it comes to funding retiremen

What to look for and what’s not important   If you are shopping for a financial professional, you need a good checklist of questions to ask. What you are looking for is someone who handles clients like you – and who is financially wise. As you assess a professional who manages your assets, for instance, do yourself a favor: Don’t rely on his or her investment record. Clients have differing needs. A money manager whose investment performance touched the stars last year ma

What is it? If you're like a lot of people, retirement won't be the world of gardening, golfing, traveling, and tennis you once envisioned. Rather, retirement will mean relaxing and working. Maybe you've retired from your "regular" job and started a business, or perhaps you want to work part-time just to stay busy. However, if you work after you start receiving Social Security retirement benefits, your earnings may affect the amount of your benefit check. How your earning

For some, phased-retirement may be an option – for others, a necessityRetirement planning is a primary reason for long-term saving, and when people think about retirement, finances are often the focus. However, it is important to also look at the nonfinancial aspects of transitioning from the world of work to the world of leisure. Specifically, lifestyle changes and self-esteem issues associated with the loss of your professional identity may create difficulties. As you’re preparing

Regardless of whether you prepare your taxes yourself or use a professional's services, it's a good idea to gather the information and documentation you need well in advance of your actual tax filing date. Below, we've listed some key information you need when preparing this year's taxes. Your Personal Information The personal information you may need to file taxes may contain information from your prior year's return, including: Your Social Security Number (SSN), along wi

Getting married is a joyous time, but one that comes with numerous considerations. From living arrangements to future goals, marriage may quickly change a lot of things in your life. One thing that may drastically change after your marriage is your tax status. Single filers crossing over to a new tax status may be unsure of where to start and which options will provide them with the greatest benefits. Whether you have recently been married or are about to say your ‘I dos’, below is a

As an investor, you may be impacted by capital gains if you sell your investment – whether at a gain or loss. Understanding capital gains may help with your overall investment strategy and the potential to preserve your wealth. Below are a few insights into capital gains to help you acquire competency on the subject matter in preparation for a consultation with a financial professional to review your portfolio. What is capital gains tax?A capital gain is a profit made from selling an

The financial decisions you make between now and the end of the year can significantly impact how much taxes you will have to pay once tax day arrives. If you take action by December 31st, you can reduce your tax burden and keep more of your hard-earned money. Here are some valuable tips for year-end tax planning. Max out your retirement savings contributionsTax-advantaged retirement accounts like 401(k)s and IRAs fund with pre-tax dollars. Any contributions you make can lower your taxable

LPL Financial Research Outlook 2023: Finding BalanceThrough all the challenges, newfound opportunities, and every high and low we’ve experienced during the last couple of years, it’s no surprise why we might be striving for more balance. Whether it’s about the markets and global economy or what’s happening in our local communities, the news we’re hearing on a daily basis has the potential to disrupt the balance of our lives. But with resilience, perspective, and the

Just what you need, right? One more time-consuming task to be taken care of between now and the end of the year. But taking a little time out from the holiday chores to make some strategic saving and investing decisions before December 31 can affect not only your long-term ability to meet your financial goals but also the amount of taxes you'll owe next April. Look at the forest, not just the trees The first step in your year-end investment planning process should be a review of your overal