Financial Planning Blog

All your financial planning tips, news, and advice in one place.

Office Hours Update

Our office will be closed beginning this Friday, July 3rd through next Friday, July 10th.  If you require any investment account needs, changes, or trades- please contact us via email…
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Tax Planning for Income

As we are now approaching the official tax return deadline within the next two weeks, we wanted to share some pertinent information regarding income tax planning.  You don’t want to pay…
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Understanding Personal Tax Credits

Have you ever thought that you’re paying too much income tax? You may be, if you’re not claiming all of the tax credits for which you are eligible when you…
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Financial Survival After a Job Loss

You may have lost your job already, or it’s something you’re concerned about. Either way, the keys to surviving a job loss financially are to plan ahead, take stock of…
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Key Estate Planning Documents You Need to Know

There are five estate planning documents you may need, regardless of your age, health, or wealth: 1. Durable power of attorney2. Advance medical directives3. Will4. Letter of instruction5. Living trustThe…
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Life Insurance at Various Life Stages

Your need for life insurance changes as your life changes. When you’re young, you typically have less need for life insurance, but that changes as you take on more responsibility…
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SBA Benefits In Response to COVID-19

In response to the recent downturn in small business operations, the U.S. Small Business Administration is offering program benefits to qualified employers. On Tuesday, March 31 3-4PM CST, Bill Simonet will be…
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Our Office and Social Distancing Policies

Effective tomorrow, Thursday March 25th, our office will move to working remotely for the next two weeks or until further notice, in order to be compliant with our community’s social distancing policies. While…
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Coronavirus Update from Bill Simonet

In volatile and stressful times like these, it’s always important to have perspective. Since the turn of the millennium, the market’s negative response to health crises has been relatively short-lived.…
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Filing Status Considerations: Divorce

What are filing status considerations?If you’re separated, considering a divorce, or are already divorced, you should be aware of the income tax ramifications of your divorce-related financial decisions. An important…
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Updating Your Tax Withholdings

If you fail to estimate your federal income tax withholding properly, it may cost you in a variety of ways. If you receive an income tax refund, it essentially means…
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IRA and Retirement Plan Limits for 2020

If you or your spouse currently have multiple Individual Retirement Accounts open, please contact us to consider consolidating those accounts. Having multiple IRAs open can result in excessive management costs…
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SECURE Act Important Retirement Plan Changes

The $1.4 trillion spending package enacted on December 20, 2019, included the Setting Every Community Up for Retirement Enhancement (SECURE) Act, which had overwhelmingly passed the House of Representatives in…
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A Reality Check For Holiday Spenders

During the holiday season, like many people, you’re probably finding that in the process of spreading good cheer you’ve spent too much money. Along with needing to trim a few…
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Tax Planning for the Self Employed

Understand Self-Employment Tax and How It’s Calculated As a starting point, make sure that you understand (and comply with) your federal tax responsibilities. The federal government uses self-employment tax to…
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In Search of the Right Financial Advisor

The challenge for most people today is finding the right financial advisor. The sheer number of financial professionals holding themselves out as “financial advisors,” makes it a daunting task at…
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Establishing a budget

Do you ever wonder where your money goes each month? Does it seem like you’re never able to get ahead? If so, you may want to establish a budget to…
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