Insider

News, Information and analysis

In the financial world, there’s a lot to keep track of. Here’s a curated stream of financial intelligence and practical updates, prepared by us specially for Heritage clients.

Blog_Heritage_Video_1000px (1)

Every detail matters

In this brief video, Heritage founder Chuck Bean explains how our rigorous, client-first approach to wealth management can transform your finances, and your life. Watch >

Medical Expenses & 2018 Tax Planning

For those who have out-of-pocket medical and dental expenses, the Tax Cuts and Jobs Act could provide an unexpected tax break. Proposals in the House of Representatives in late 2017 called for a repeal of medical expense deductions entirely, as part of reform to curtail itemized deductions. After negotiations, the medical expense deduction was actually… More >

Estate Taxes after the Tax Cuts and Jobs Act

Proposals to repeal the federal estate and gift tax came about during the Presidential campaign and continued into 2017. The enacted Tax Cuts and Jobs Act changes, but does not fully revoke, estate and gift taxes. The tax reform increased the 2018 exemption amount per person from $5.6M to $11.2M, doubling what can pass on… More >

Heritage Investment Review – Year 2017

By all accounts, 2017 was an excellent year for investments. The U.S. stock market was up 21.13%i. Developed international stock markets were up 25.03%ii. Emerging markets’ stocks were up 37.28%iii. U.S. high yield bonds returned 17.16%iv. Global bonds—despite a large portion starting the year with non-existent or negative yields—returned 7.39%v. U.S. real estate returned 6.89%vi…. More >

Charitable Contribution Strategies under the New Tax Law

The itemized deduction for charitable contributions may have less income tax-saving benefit for some taxpayers starting with the 2018 tax year. This is due to a substantial increase in the standard deduction and the elimination or reduction of other itemized deductions. The new law increases the standard deduction to $24,000 for married couples and to… More >

Home Equity Loan Interest May Still be Deductible under New Tax Legislation

The recently passed tax bill suspends the itemized deduction for interest on home equity indebtedness, beginning with tax years after December 31, 2017. A taxpayer, however, may still be able to claim a deduction for some or all of the interest on a home equity line of credit (HELOC). The type of loan (e.g. traditional… More >

New Tax Law Allows 529 Plans to be Used for K-12 Education Expenses

The recently signed Tax Cuts and Jobs Act includes provisions that will expand the potential benefits of 529 savings plans. 529 plans are investment accounts originally designed to help families save for college. Under current law, investment earnings and withdrawals from 529 plans are tax-free as long as the funds are used for qualified higher… More >

Highlights from Tax Reform

Congress has voted to pass a major rewrite to the tax code that the President will soon sign into law. The complex nature and late timing of the bill make year-end strategic decisions difficult to evaluate. You may want to connect with your tax-preparer to ask if there are any tactics specific to your situation… More >

Facts & figures to Know for 2018

Many questions remain as Congress debates edits to tax reform legislation. While there are still unknowns, there are some figures we can start to consider in plans for 2018 and beyond. Below is a summary of certain announcements made by the Internal Revenue Service and other agencies related to 2018. Employer Retirement Plan Savings The… More >

Cyber Security: Partnering to Protect Our Clients

Notorious hacker Kevin Mitnick said, “The weakest link in the security chain is the human element.” “There are only two types of companies: those that have been hacked and those that will be.” – Robert Mueller, FBI Director This is why, at Heritage, we take the security of our clients’ confidential information very seriously, as… More >

Why Schwab Honored Heritage Financial with 2017 Best-in-Business Award

The Schwab team produced this brief video to highlight why Heritage Financial is a Best-in-Business IMPACT Award TM recipient. Watch >