Below are key changes for 2025 recently released by the IRS. Please contact your AWM advisor if you have questions or need clarifying information for your particular situation. SOCIAL SECURITY 2.5 percent cost-of-living adjustment, effective with benefits payable in January 2025…Read More
It’s almost the last quarter of 2024. Can you believe it? Now is an ideal time to review your tax planning with your financial advisor and tax preparer or CPA so you can implement appropriate strategies for 2024. If you…Read More
A 529 account can be a great tool for saving for college. Investment growth is tax-free, and so are the withdrawals (if used for qualifying education expenses). In many parts of the country, state income tax deductions are available for…Read More
Many companies conduct performance reviews and announce employee pay raises toward the end of February or in March. As a smart, creative go-getter, you most likely have great news on the way! But how do you put your higher pay…Read More
Good news: Through hard work, savings and diligent investing, you retired with $1 million or more in pre-tax IRA funds! Bad news: The government wants its piece of the pie and starts taxing your IRAs in your 70s. Now back…Read More
The IRS recently announced that the maximum contribution for various investment accounts has increased for 2024. 401(k), 403(b), most 457 plans, Thrift Savings Plan Employee contribution limit: $23,000 That equals $958.33 per paycheck if you get paid twice a month…Read More
Parents often have questions about the best ways to help their kids develop wise money habits. Common questions relate to when and how to start teenagers down the path of responsible credit card use. Teens under 18 cannot open a…Read More
Early fall is open enrollment season for employer-provided benefits, as well as for Medicare. Open enrollment is a crucial time to review – and possibly update – your selections for health insurance, life insurance, disability insurance and more. Which open…Read More
What can Netflix teach us about our money? You may be surprised how relevant the lessons can be. In his new documentary series “How to Get Rich,” financial podcast host Ramit Sethi highlights the importance of developing a plan for…Read More
If you plan to own a vacation home, you probably already can envision your dream site. It could be a cozy mountain chalet, a relaxed beach house within earshot of the surf or a luxurious apartment overlooking the New York…Read More
