Month: April 2018
What the New Trump Tax Law Means for Your Estate Plan
When the Tax Cuts and Jobs Act of 2017 passed and was signed into law late last year, it was the most sweeping overhaul to the tax code in more than 30 years. While there are many estate planning strategies that have remained in place, this also opened the door to new opportunities, and so it may be wise to revisit your estate plan. Increased Limits on the Estate Tax The Tax Cut and Jobs Act temporarily doubles the exemption amount for estate, gift and generation-skipping taxes from the $5 million base, set in 2011, to a new $10 million base, good for tax years 2018 through 2025. The exemption is indexed for inflation, so an individual can shelter $11.2 million in assets from these taxes. Another federal estate law provision called portability lets couples who do proper planning double that exemption. So, a couple could exclude $22.4 million for 2018. The law’s sunset provision means that, absent further Congressional action, the exemption amount would revert to the $5 million base, indexed. 529 Plans Under previous regulations, 529 withdrawals were tax-free as long as the funds were spent toward qualified higher education expenses, which included tuition, room and board, and computer software and equipment at any eligible post-secondary institution. With the new tax act, parents who send their children to private elementary and high school will have more options when it comes to saving for tuition. The new tax plan allows 529 plans to be used for up to $10,000 pe
Letter from The President Q2
Keep an Eye Out for our New (and easy to use!) Website Many of our clients have been using our website for several years, and I know that many of you have come to count on it as a regular source of news, new and interesting resources, and a simple and secure way to access all of your accounts through our consolidated WealthTRAC Consolidated Reporting Platform. In an effort to consistently offer our clients and friends an updated and refined experience to better serve your needs, we’ve been spending some time updating our website over the last several months, and the new website will go live in the coming months. The new website will be better aligned with our clientele base, feature easy access to our newsletters, blog, Golden Opportunities Shows and other media appearances, and all of the client accounts that you have now. We have also taken this opportunity to narrow our focus, so that we can better serve you. You’ll notice that the new site focuses on four segments, which all of our clients fit into: Retirees, Pre-retirees, Business Owners, and Executives. No matter which group you fit into, we’ve taken some time to put together some valuable resources, information, and whitepapers that we hope you’ll take the time to look
Client Spotlight: Bruce Motko
Lineweaver client Bruce Motko is a great believer in travel – and traveling as reasonably as possible! When Bruce was last in, he shared some of these great travel tips, and we thought that many of our other clients would enjoy them as well. “For the very frugal on airfare,” Bruce says, try Spirit Airlines--known for its “bare bones” approach (you pay for everything) but savings can be substantial. If you’re flexible and read all the “fine print” (ask someone who has flown Spirit) you can save money. He recommends you start by signing up (free) at Spirit.com to get weekly deals. You can join their $9 Fare Club, which costs $59.95 annually (and does, he notes, automatically renew if not canceled). While he concedes that there is a bit of up-front cost, he goes on to say that it pays for itself after one trip - plus gives the same discounts for everyone booked on your reservation. At the same time, he recommends applying for the Spirit Mastercard (which has no fees for the first year, and annual fees of $59/year thereafter), which you can cancel anytime. For signing up, you’ll receive a BONUS 15,000 miles after your first purchase of anything, good for FREE travel (with fees) to many destinations, although he does advise that you read program rules for limitations and best travel dates. Enjoy your travels, and Bruce reminds us, “Don’t be afraid to say ‘hi’ to a fellow traveler - you never know wher
Q2 2018: Economic Commentary
Global financial markets posted mixed results during the first quarter of 2018 amid a spike in volatility on concerns surrounding higher interest rates and rising inflation expectations. Meanwhile, the Trump Administration’s tariff announcement on steel and aluminum led to heightened geopolitical tensions with several U.S. trading partners, sparking concerns of a trade war. We present a few highlights from 1Q18 below: • U.S. equity markets sold off sharply in late January and early February, resulting in the first correction (10% drawdown) since early 2016. Stocks moved mostly higher for the remainder of the quarter in volatile and choppy trade, with large intra-day moves the norm. Despite the volatile environment, the S&P 500, the Dow Jones Industrial Average and the technology-heavy Nasdaq Composite managed to hover near their all-time highs. On the economic front, preliminary estimates indicate fourth quarter GDP slowed slightly more than initially thought due to slower inventory growth. • Developed international equity markets produced mixed results during the first quarter on worries that a strengthening U.S. economy may lay the groundwork for a more aggressive Fed. Gains came out of the Pacific region, while Europe lagged. On the political front, the populist movement was back in focus as disenchanted Italian voters opted for anti-establishment parties in an election that yielded no outright winner. In the emerging markets, returns were propelled
HealthWatch: Drink Water to Feel Less Bloated
When you feel bloated, drinking water sounds as if it would only make matters worse, but can often help, according to James Lee, MD, gastroenterologist with St. Joseph Hospital in Orange, California. Especially if you’re on a high-fiber diet, for instance, your body will need more water to work more efficiently, says Dr. Lee. “Water mixes with water soluble fiber and makes it into a gel-like substance. This affects the motility of the gut and reduces the symptom of bloating.” Drinking more water can relieve bloating caused by dehydration. When you’re dehydrated, your body clings to the water your body does have, causing you to puff up. So next time you’re feeling a little bloated, reach for a drink! It may make you feel
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Case studies are intended to illustrate the types of financial issues faced by actual clients. They should not be construed as a testimonial for or endorsement of Lineweaver Wealth Advisors. They do not represent the experience of any advisory client. Each client’s situation is different, and their goals may not always be achieved. Lineweaver Wealth Advisors, LLC, is not engaged in the practice of law or accounting. Tax information provided is general in nature and should not be construed as legal or tax advice. Always consult an attorney or tax professional regarding your specific legal or tax situation. Tax rules and regulations are subject to change at any time.
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