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Planning

Creating A post-college financial plan

If you (or someone you know) have recently graduated, congratulations! Here are five things that you can start doing today to ensure a solid financial future for yourself. Hope for the Best, Plan for the Worst An emergency fund of ready cash can help you feel more secure about your ability to handle the unexpected… More >

Will my beneficiaries have to pay taxes on my life insurance policy?

Under current law, death benefit proceeds from life insurance are generally income tax-free. If you name a spouse, child, or other individual as a beneficiary to a life insurance policy you own, that person will not have to report any of the proceeds as income due to your death. If a beneficiary elects to receive… More >

Lease or Buy Decision

Many big-ticket consumer items, such as cars, computers, and furniture, can be leased rather than purchased. In a lease, the lessor retains ownership of the item, and the lessee pays for the use of it. Types of Lease With a closed-end lease, the cost is known and no further money is due by the lessee… More >

Helping Grandchildren Pay for Their College Education

Personal finance decisions that involve multiple family members and generations are as much about communication as they are about dollars and cents. Since I began working at Heritage, one of the most popular questions our clients have asked during our review meetings has been “how can I help my grandchildren pay for college?” I recommend… More >

Roth IRA Opportunities for Kids and Young Adults

A Roth IRA offers tax-free growth, making it a very attractive vehicle for young investors to take advantage of decades of compounding. If a child has earned income from a summer job or other work, a full or partial Roth contribution may be an option. Earned income does not include interest or dividends. A child… More >

Tax Preparation Guide for Heritage Clients

Tax season can be quite, well, taxing! Every year we compile a comprehensive tax preparation guide for Heritage clients. This guide is a handy reminder of the many variables that affect your tax filing, and ways to navigate through them effectively. 1099 Composite and Year-End Summary Consolidated 1099 tax forms are available online from Schwab… More >

Understanding Your Restricted Stock Units

RSUs – Restricted Stock Units – have become a more popular way to pay corporate executives in the last fifteen years. This is partly because of a change in accounting principles which made stock options less attractive in response to concerns about abusive pay practices. At Heritage Financial, we help corporate executives and their families… More >

Why We Often Recommend Our Clients Have a HELOC

A home equity line of credit (HELOC) may provide a borrower with needed cash if other liquid resources are not immediately available. Funds are drawn by simply writing a check, and can be used for what you need when you need it. In most cases interest rates are much lower than a credit card or… More >

4 Personal finance to-do items no matter what 2017 brings

Investors and the media alike are expected to focus on interest-rate increases and proposed changes to income and estate taxes as key discussions going into 2017. While both topics will present new challenges or opportunities in personal finance, there are perhaps more unknowns at this time than there are objective criteria one could use to… More >

Tax-loss Harvesting

Tax-loss selling is a common tax planning strategy. Harvesting a loss generates current tax savings. Even if a position that is harvested for a loss is then later sold at a gain, there is an opportunity for tax deferral in the meantime, which can create a modest economic benefit. A loss now produces additional dollars… More >