Financial Tips

This Month's Recap

Preparing for retirement just got a little more financial wiggle room. The Internal Revenue Service (IRS) announced new contribution limits for 2022.

Key Changes:

As the end of the year approaches, you may be considering a charitable contribution. Did you know that many charities accept transferred securities as a donation? This is just one opportunity that could result in a tax benefit to you and a larger gift to your charity.

Here are a Few Giving Opportunities:

Q3 QUARTER’S RECAP

• U.S. economic growth slows in the face of Delta variant headwind
• Europe’s economic outlook remains positive
• Stocks retreat from record highs; confront a bevy of challenges

The window to begin exempting yourself from Washington’s Long-Term Care Tax is quickly approaching. The Washington State Employment Security Department (ESD) will begin accepting applications for exemption on October 1, 2021. Please review the steps to apply for exemption below.

CAN HAVING THREE GOOD FRIENDS PROMOTE A HAPPY RETIREMENT?

After a bit of political posturing in December, the $900 billion Consolidated Appropriations Act of 2021 (2021 CAA) was signed into law by President Trump as the COVID-19 pandemic continues to impact employers and employees.

Here's a quick recap of five key highlights:

The differences in tax policy between Presidential candidates Donald Trump and Joe Biden are pretty significant.  Current polls show the Democratic candidate with a substantial lead, which suggests we should prepare for the possibility of a different tax regime in 2021.  But what, specifically, should we evaluate as the elections approach?