Category: Uncategorized

The federal income tax filing deadline for individuals is generally Tuesday, April 15, 2025. However, the IRS has postponed the deadline to file federal income tax returns and make tax payments for certain disaster-area taxpayers. The current list of eligible localities and other details for each disaster are always available on the Tax Relief in Disaster […]

On February 1, 2025, President Trump authorized an additional 25% tariff on all goods entering the United States from Canada and Mexico (except for a lower 10% tariff on energy resources from Canada) and an additional 10% tariff on all goods from China. Nine days later, Trump authorized a 25% tariff on steel and aluminum, […]

The Tax Cuts and Jobs Act was signed into law in December 2017. The Act made extensive changes that affected both individuals and businesses. Most provisions were effective for 2018. Many individual tax provisions are scheduled to sunset and revert to pre-existing law after 2025 unless Congress acts. Some key provisions of the Act scheduled […]

The tax filing deadline is fast approaching, which means time is running out to fund an IRA for 2024. If you had earned income last year, you may be able to contribute up to $7,000 for 2024 ($8,000 for those age 50 or older by December 31, 2024) up until your tax return due date, […]

In 2024, nearly all S&P 500 sectors posted gains in a year defined by AI enthusiasm and a robust U.S. economy. Overall, 66% of companies ended the year in positive territory as the index achieved its best two-year performance since the late 1990s. This graphic compares S&P 500 sector returns in 2024, along with each […]

The IRS began accepting and processing 2024 tax-year returns on Monday, January 27, 2025. Tips for making filing easier To speed a potential tax refund and help with tax filing, the IRS suggests the following: Key filing dates Here are several important dates to keep in mind: Tax refunds The IRS encourages taxpayers seeking a […]

2024 was yet another record year for the Stock Markets. While there was some broadening of the rally, towards the last quarter of the year, Large Cap Growth Stocks, more specifically the Magnificent Seven, still dominated the landscape. We didn’t see a Santa Clause Rally in December, but the S&P 500 still ended the year […]

Late last year, the IRS announced a delay in the application of proposed regulations interpreting certain changes to the required minimum distribution (RMD) rules made by the SECURE 2.0 Act of 2022. The IRS originally said the proposed regulations would take effect in 2025 to align with the implementation of other regulations governing RMDs for […]

Massive computer hacks and data breaches are now common occurrences — an unfortunate consequence of living in a digital world. Once identity thieves have your information, they can use it to gain access to your bank and credit-card accounts, make unauthorized transactions in your name, and subsequently ruin your credit. Now more than ever, it’s […]

Dear Trust Officer, I understand that you are a “corporate fiduciary.” What is that exactly? Aren’t you just a different flavor of stockbroker or financial planner? — Shopping for Advice Dear Shopping for Advice, “Fiduciary” is a legal term that describes the duties that one party owes to another in a business relationship. A fiduciary […]