Do you need a Financial Advisor?

Generations X and Y have grown up in an era of instantaneous access and unlimited information at our fingertips, turning us all into proverbial do-it-yourselfers.  However, we also realize there are certainly areas where the advice of a trained professional is warranted.    You may be someone who relies on WebMD to self-diagnose a minor health issue, but when it comes to something more serious, you know you need a professional diagnosis from a licensed physician. They know the questions to ask, the symptoms to focus on, and the tests to run in order to correctly diagnose and treat your ailment. Just as one part of the body affects another, one financial decision will typically affect many aspects of your overall financial well-being. Your financial future is an area that needs the guidance provided by a living, breathing professional.  We believe that financial decisions should never be made in haste or in a vacuum.  Financial planning is an ongoing process that combines taxes, insurance, investing, retirement, employee benefits, and estate plans with your personal values and long term goals. A Read on! →

New Ruling for Same Sex Couples

Sept. 6, 2013: An announcement last week by the U. S. Treasury, as well as IRS Revenue Ruling 2013-17, declared that for legally married same-sex couples, the IRS will follow the laws of “the place of celebration” in determining legal marital status, for all federal tax purposes, including income, gift and estate.   This means that it doesn’t matter what state the couple currently resides in, they will now be treated as married for their federal tax filings.  There are still complications regarding the state income and estate taxation for these couples, but this announcement does help ensure that federal benefits are determined by the legality of the marriage, not the individual state where the couple resides.  This ruling also applies to federal tax provisions where marriage is a factor, including employee benefits, earned income credits, IRA contributions and taking the standard deduction. Since the Supreme Court ruling over the summer regarding same-sex marriages, there have been numerous federal announcements and ruling changes to address each affected area.  You can expect continued clarification from the federal agencies involved as they work Read on! →