One of the big tax law changes for 2018 is the doubling of the standard deduction. If you find yourself among the millions of Americans that who have itemized deductions in the past but will no longer need to, think about pulling some of your normally deductible activities forward into 2017. This way you may be able to one last time get the tax benefits you would otherwise lose. A couple of end of year tax ideas: [Read more…] about Miscellaneous End of Year Tax Stuff (short)
Many investors and financial advisors now employ a tax management strategy known as tax-loss selling or harvesting losses. Alternatively, some investors could also take advantage of harvesting gains but many of them don’t. I find this is usually because they don’t know about it or think they wouldn’t qualify for a 0% capital gains tax. [Read more…] about Harvesting Investment Gains
Today, October 19, 2017 marks the 30th anniversary of ‘Black Monday’. On that fateful day in 1987 the Dow Jones Industrial Average, aka the Dow, had its worst single day drop in history. By the time the closing bell mercifully sounded at 4 p.m. the market had lost 508 points or 22.6% of its value. In our world today with the Dow at 23,000, that’s equivalent to a 5,100 point drop. [Read more…] about The Day Godzilla Came to Wall Street
As mentioned in my Q2 Market Review piece, this market has been quiet…too quiet. Historically, the stock market averages 3 pullbacks of 5% per year with one of those going on to become a 10% correction. So when was the last time markets pulled back 5%. Remember the Brexit vote in June 2016? Yep, it’s been over 13 months. Even more impressive is that it’s been almost a year since we’ve seen even a 3% pullback, only the 2nd time since 1950 we’ve gone this long. The first was in 1995. (Source: LPL Research). [Read more…] about Market Drop? It’s About Time!