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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 […]

The IRS has increased the optional standard mileage rates for computing the deductible costs of operating an automobile for business purposes for 2025. However, the standard mileage rates for medical and moving expense purposes remain the same for 2025. The standard mileage rate for computing the deductible costs of operating an automobile for charitable purposes […]

Most Recent Amendments for ALL IRA types are available here.

While older generations control the largest share of global spending today, Gen Z is on track to become the fastest-growing force in global expenditures over the next decade. This graphic shows the share of global population and spending each generation represents in 2024. Why Gen Z could soon drive spending growth In 2024, Gen X, […]

About 70% of U.S. private-sector workers have the option to contribute to a retirement plan such as a 401(k), 403(b), or 457(b) plan provided by an employer. Unfortunately, many of them don’t take full advantage of this tax-friendly opportunity to save for the future.1 The SECURE Act and SECURE 2.0 Act (federal legislation passed in […]

Every year, the College Board releases new college cost data and trends in its annual report. The figures published are average costs for public in-state, public out-of-state, and private colleges based on a survey of approximately 4,000 colleges across the country. Over the past 20 years, average costs for tuition, fees, housing, and food has […]

Zombie debt is old and often expired debt that could be revived after being purchased by a collection agency for pennies on the dollar — or less. These “debt scavengers” have plenty of incentive to cast a wide net and take aggressive steps to collect even a small portion of the original debt. If you […]

Medicare’s Open Enrollment period began on October 15 and runs through December 7. If you are covered by Medicare, it’s time to compare your current coverage with other available options. Medicare plans can change every year, and you may want to switch to a health or prescription drug plan that better suits your needs or […]

Here are some things to consider as you weigh potential tax moves between now and the end of the year. 1. Defer income to next year Consider opportunities to defer income to 2025, particularly if you think you may be in a lower tax bracket then. For example, you may be able to defer a […]