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Were Your Taxes a Costly Surprise This Year?

There’s been a lot of confusion this year, as we all file for the first time under the New Trump Tax Law. Some people are finding that their returns are lower, or that deductions they’ve always depended on have gone away. The biggest cause that we see for a lower return is a lack of tax strategy and planning in advance – most strategies have to be in place by the end of the tax year – not at filing time. 

There are estate planning implications as well – for example, if you’re considering a ROTH conversion, which can be a great strategy, there used to be q “do-over” period you had in case something happened after the fact, or if you changed your mind. However, that’s no longer the case.

There are two parts to this; 1) being proactive, and 2) investing for tax efficiency, because taxes have the ability to take the largest bite out of your portfolio and your returns, and, it’s important to remember that it’s not what you make – it’s what you keep.

That means working with a team to build a portfolio that takes advantage of taxable, tax-deferred, and tax-exempt accounts, understanding your tax bracket under the new law, and choosing investments that are tax-efficient, and, as much as possible, preparing you for the volatility and uncertainty that have been rampant in the markets.

While coordinating financial plans properly is always challenging, it is especially challenging today given with infighting across a divided Congress and under the Trump Administration. That’s why we’ll be hosting a complimentary panel discussion and dinner at Lockkeepers’ in Valley View on May 14th and 16th for those with a portfolio of $500,000 or more, but seating is limited.

During our time together, we’ll focus on helping you to avoid common mistakes such as Underestimating the Impact on Your Portfolio of the Economic Uncertainty Created by Trump’s Divided Policies, Neglecting to Help Safeguard Your Portfolio from a Possible Recession, and Not Taking Advantage of Comprehensive Tax Strategies.

Seating is limited, so if you are interested, please RSVP here.

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Were Your Taxes a Costly Surprise This Year?

By Lineweaver Financial Group
May 02, 2019 Category: Taxes, Trump, Portfolio

Theres been a lot of confusion this year, as we all file for the first time under the New Trump Tax Law. Some people are finding that their returns are lower, or that deductions theyve always depended on have gone away. The biggest cause that we see for a lower return is a lack of tax strategy and planning in advance most strategies have to be in place by the end of the tax year not at filing time. There are estate planning implications as well for example, if youre considering a ROTH conversion, which can be a great strategy, there used to be q do-over period you had in case something happened after the fact, or if you changed your mind. However, thats no longer the case. There are two parts to this; 1) being proactive, and 2) investing for tax efficiency, because taxes have the ability to take the largest bite out of your portfolio and your returns, and, its important to remember that its not what you make its what you keep. That means working with a team to build a portfolio

The Power of Coordination

By Lineweaver Financial Group
April 18, 2019 Category: Coordination, Tax, Legal, Insurance, Financial, Wills, Estate Planning, Taxes, Retirement

At the Lineweaver Companies, we believe a team approach to coordinating all your financial, legal, tax, and insurance needs helps save you time, money and worry. For example, we had clients who were both close to retirement, and unfortunately the husband had been diagnosed with terminal cancer. The first thing we did was to work with them to make sure his pension was triggered in such a way that the wife could receive a greater lifetime benefit - almost a million more dollars than she would have otherwise received. At the same time, in this sort of situation, you have to consider powers of attorney and other basic estate planning documents that everyone should have, like wills, and even if trusts make sense for your particular situation. There were also huge student loan balances of more than $120,000. But, because they kept the loans entirely in the fathers name, when he passed, the debt was forgiven. But what many people dont know is that the forgiveness of debt in this

Economic Commentary: Q2 2019

By Lineweaver Financial Group
April 02, 2019 Category: Economic Commentary, Q2 2019

Investment Directions - Spring Forward Once again, spring is near, a time of growth, renewal and restoration. But with concerns over slowing growth, uncertainty around economic and earnings outlooks, and ever-present U.S.-China and European political risks, investors should be prepared for potential spring volatility. Our take on the major themes for this quarter: U.S. Equities: The Healthy Healthcare Sector In an environment of slowing growth and less certain earnings outlooks, the traditional defensive qualities and resilient earnings growth of healthcare stocks are appealing. Plus, valuations broadly look reasonable compared to historical levels. Tactical investors may consider getting more granular with the medical devices industry. Developed markets: What Next for Brexit? With Theresa Mays Brexit plan resoundingly defeated, she must now renegotiate a deal. We believe the United Kingdom is likely to avoid a hard exit with an extension of the March 29 deadline to exit and gain time

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