Lately, there has not been a dull moment when it comes to tax updates. That being said, we have another tax update for you, this time relating to a new law that was passed recently in the state of Michigan. House Bill 5376 was signed into law in December of 2021. This bill impacts pass-through…
This time of year, many of us begin thinking about how we can help the causes closest to our hearts. It is the season of giving after all! When making your plans for charitable giving, there are many ways to ensure that your gifts are made in a way that aligns with both your financial…
Do you know what you can reasonably spend this holiday season? Overspending now may lead to a post-holiday hangover in the New Year. Whether you put all your seasonal shopping on credit cards or save up months in advance, you should have an overall budget number in mind. By properly planning, you can lower financial…
In previous posts, we have discussed Roth conversions being a potential option when you have phased out of the contribution limits for a Roth IRA. Today, we will be discussing another type of Roth conversion called a mega backdoor Roth contribution. A mega backdoor Roth IRA involves making a non-Roth, after-tax contribution to a 401(k)…
With inflation soaring, the popularity of a little-known treasury program for small investors, Series I Savings Bonds, is coming into focus. The I Bond is linked to an interest rate plus inflation. Limited by the amount you can buy, there are several factors to consider before making a decision to buy. I recently bought an…
We all know how chaotic this time of year can become. With the holiday season approaching, it’s easy to allow our plates to fill up and forget to make sure our year-end finances are in order. To help make your life a little bit easier, we have put together a year-end checklist of 7 year-end…