Published Work: OTL Magazine – The graduation gift that keeps on giving

If a child has earned income, money received from someone else can be used to fund an IRA. It doesn’t matter if the child is a teenager with some part-time income or a graduate with a full-time job. The only stipulation is that your child must have earned income — not investment income — that was at least equal to the amount of the contribution. A W-2 from an employer would show proof of income. Alternatively, if the child earned income from non-W-2 sources (babysitting, shoveling snow, etc.), be sure to keep precise records of how much they made.

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Published Work: OTL Magazine – 2019 Tax Planning & Looking Ahead

Everyone likes to save on taxes. Making the most of deductions is one avenue available to taxpayers to reduce their tax bill. All taxpayers have the option to either itemize deductions or take the standard deduction, which is currently $12,700 for a married couple under age 65. If a couple’s standard and itemized deductions are close to being the same amount each year, there is an opportunity to plan these expenses in a way that may reduce the overall tax bill.

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Charitable Giving During Retirement

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Financial Aid, Uncomplicated

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Preparing Your Child (and Yourself) for College

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Double Check Your Paycheck: IRS Tax Updates

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Make Your Charitable Giving Count

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Lessons for the Next Crisis

It will soon be the 10-year anniversary of when, in early October 2007, the S&P 500 Index hit what was its highest point before losing more than half its value over the next year and a half during the global financial crisis. Over the coming weeks and months, as other anniversaries of major crisis-related events […]

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Published Work: OTL Magazine – Maximize Your Deductions

Everyone likes to save on taxes. Making the most of deductions is one avenue available to taxpayers to reduce their tax bill. All taxpayers have the option to either itemize deductions or take the standard deduction, which is currently $12,700 for a married couple under age 65. If a couple’s standard and itemized deductions are close to being the same amount each year, there is an opportunity to plan these expenses in a way that may reduce the overall tax bill.

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Published Work: OTL Magazine – Alternative Investments

Investors, both institutional and retail, often invest in alternatives in pursuit of greater diversification or risk reduction; however, alternatives might fail to reliably accomplish these goals.

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