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The Tax Benefits of Home Ownership

In Articles, Estate Planning, Taxes by Mission Wealth

In tax lingo, your principal residence is the place where you legally reside. It’s typically the place where you spend most of your time, but several other factors are also relevant in determining your principal residence. Many of the tax benefits associated with home ownership apply mainly to your principal residence — different rules apply to second homes and investment properties. Here’s what you need to know to make owning a home really pay off at tax time.

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Qualified Charitable Distributions (QCDs) – A Strategic Way to Give

In Articles, Taxes by Jessica Mora

This year saw one of the largest tax reforms in over three decades. Two of the major changes – an increase in standard deductions and reduced/eliminated itemized deductions – have taxpayers seeking new methods to reduce their tax bills. Although having been around for over a decade, Qualified Charitable Distributions (QCDs) have been reintroduced to the spotlight in 2018 as a strategy to reduce taxable income for retirees.

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Our Latest View on Current Economic Events

In Articles, Investments, Taxes by Kieran Osborne

We’ve been saying for a long time that the market was statistically due for a sell-off and an increase in volatility. After experiencing historically low levels of volatility throughout 2017, the first quarter of 2018 was the polar opposite, with heightened volatility experienced, particularly in February and March.

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How the New Tax Plan Will Impact You

In Articles, Taxes by Brad Stark

Expected passage of the tax law changes are expected to happen and be signed into law with an effective start date of January 1, 2018. Much has been written on this subject in the press and here is how we view the changes in a simplified way.

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House of Representatives Reveals Details on Tax Reform Plan

In Articles, Taxes by Matthew Adams

The House of Representatives released details of their tax reform proposal this week. There are still a lot of difficult choices for Congress to ponder, but the main challenge to tax reform stems from their efforts to offset the proposed corporate tax cuts, estate tax reform, and tax code simplification with enough revenue sources and “pay-fors” to not materially add to the ongoing (and growing ) Federal debt of now $20+ Trillion dollars.

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How to Select a Finance Firm

In Articles, Estate Planning, Investments, Risk Management, Taxes, Wealth Management by Seth Streeter

Selecting a financial advisor is a major decision that will impact your family’s wealth and peace of mind. If you are looking to engage a professional advisor or to evaluate your current advisor, consider these important criteria:   Trust Selecting an advisor with integrity is paramount. You will be entrusting this person with your most confidential information and relying on …

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Trump Unveils Long-Anticipated Tax Plan

In Articles, Taxes by Kieran Osborne

By Kieran Osborne, MBus, CFA® Senior Portfolio Manager   President Trump’s tax plan unveiled today looks remarkably similar to the economic plan Trump campaigned on. While some specifics remain unclear, among others the plan outlines: Deep cuts to corporate tax rates (from 35% to 15%) Simplification and reduction of individual tax rates (moving from seven tax brackets to three: with …