Under OBBBA, there is now more flexibility for holders of Health Savings Accounts (HSAs).Namely, the definition of what qualifies as a High Deductible account that is eligible for an HSA has expanded.  This will allow more people to access, contribute to and use these accounts.  As I have mentioned in previous writings, I love HSAs and I wish more people …

A couple of the headline grabbing items in OBBBA are for tax breaks on tip income and overtime pay.  These are both below the line deductions and are eligible to be utilized whether the tax payer is taking the standard deduction or itemizing.  The “No Tax on Tips” provision doesn’t eliminate taxes on tips but rather, creates a deduction on up …

Another takeaway from the passage of OBBBA is the way that charitable donations are handled from a tax perspective.  Since the passage of the 2017 Tax Cuts and Jobs Act (TCJA), the majority of tax filers are simply using the standard deduction.  That is great since it was increased, however, it has lessened the direct tax benefits of making charitable contributions for …

One of the big takeaways from the passage of OBBBA is that the tax brackets that were reset during the passage of the 2017 Tax Cuts and Jobs Act (TCJA) will not revert back to prior levels next year as previously scheduled.   The current tax brackets will remain and are now permanent.  Also of note on the brackets is that the 10% …

On July 4th this year, new legislation known as the One Big Beautiful Bill Act (OBBBA) was officially signed into law.  Since our focus here is on providing financial information rather than politics, we will spend some time looking at the various components of the Bill and how they might effect some of the readers.  When looking at this Bill, there are …

Market cycles are the natural rise and fall of markets over time. They reflect how investor emotions, economic activity, and businesses interact. Although no cycle is identical, they generally follow four phases: Bottoming – The beginning of a new cycle.  This is when markets have hit a low typically following a contraction (last phase of cycle). Valuations are cheap and investor sentiment …

Artificial Intelligence (AI) isn’t just science fiction anymore — it’s in your phone, your car, and even your office. But what is AI, really? AI refers to machines or software that mimic human intelligence. That means it can learn, problem solve, recognize patterns, and even make decisions often faster and more accurately than humans. Think of voice assistants like Siri, …

Two of the most common retirement savings tools are IRAs (Individual Retirement Accounts) and 401(k)s. While they both offer tax advantages, their legal structures and rules differ in key ways. Sponsorship and Setup Legally, 401(k)s are employer-sponsored retirement plans governed by the Employee Retirement Income Security Act (ERISA). Employers set them up and often include matching contributions. In contrast, IRAs …

Inheriting assets whether money, real estate, or investments can feel both like a blessing and a burden. It’s an opportunity to build wealth, but it also comes with emotional, financial, and legal responsibilities. Here’s some quick thoughts to help you manage inherited assets wisely. First, I recommend that you pause before taking action.  Resist the urge to make immediate financial decisions. …

One of the most frequent questions that I receive is regarding how much money is needed to retire.  There is no easy answer to that question due to many variables that effect retirement outcomes. Things such as your lifestyle, location, health, and spending habits all go towards determining how much money you need.  Factors such as inflation and market returns also …