Let’s end this week with a quick pop quiz. (True or False) Home equity interest is no longer deductible. Mortgage interest is still deductible. My home equity line of credit that was deductible in 2017 isn’t deductible in 2018. Unfortunately, if you answered “true” or “false” to any of the…
“Happy Birthday”, says the doting parent, sliding a small box, neatly wrapped in colorful paper and a bow across the table to her teenaged son. He opens it, and his face brightens. It just as he’d hoped – it’s his new iPhone! And not one of those old-fashioned iPhone 6s,…
How and when to take Social Security benefits, especially for married couples, can be a confusing decision. In a way, that’s a good thing – and not just because it helps to keep financial advisors employed! In the 83 years since the Social Security Act was passed, changing demographics and…
Albert Einstein is credited, at least as far as folklore goes, with saying that compounding of interest is mankind’s most remarkable invention. I would be inclined to agree, but with the following modification: TAX-FREE compounding of interest is mankind’s most remarkable invention. Tax-free income is hard to come by, in…
One of my favorite Will Rogers quotes is: “Don’t gamble; take all your savings and buy some good stock and hold it till it goes up, then sell it. If it don’t go up, don’t buy it.” Seems like sage advice to me, and it’s about as helpful as the…
I had just finished delivering a seminar on tax code changes, and was approached by a few seminar participants who had questions. After a few good tax questions, a couple stepped up and asked: “Are you, or is your firm a FIDUCIARY?” It’s an interesting question, mostly because it gets…
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