Planning Pulse

What the Georgia Senate Races Mean for your Wealth

BY Kristin Castner, CFA IN Planning Pulse
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Today voters in Georgia take on the task of deciding control of the U.S. Senate by casting votes for two runoff elections in the state. The outcome of these elections could have implications for your wealth, so let’s take a look at the potential outcomes. What Happens If… REPUBLICANS TAKE TWO SEATS? Republicans maintain a …

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Additional COVID-19 Relief: What You Need To Know

BY Ed Jastrem IN Planning Pulse
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This past Sunday evening, President Trump signed a combined coronavirus relief and government funding bill that includes $900 billion in COVID-19 aid. Here’s a brief overview of the new legislation for Individuals and Businesses: Additional Direct Payments to Individuals As currently written, stimulus payments are $600 per person ($1,200 per couple) including an additional $600 …

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Can You Benefit from Stepping Up Your Year-End Gifting Strategy?

BY Ed Jastrem IN Planning Pulse
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Gifting, whether to family, friends, or charities, always picks up around the holidays. December is also when people start thinking about next year’s tax bill, and ideas for minimizing it. This year, many serious investors are wondering if the November Presidential election is just another reason for stepping up their gifting strategy. Why? Because the …

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7 Ways to Maximize Your Wealth Before the End of 2020

BY Ed Jastrem IN Planning Pulse
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With 44 days left until we say good-bye to 2020 (and hopefully welcome a new day in 2021), here are 7 strategies that serious investors will consider as the calendar year comes to a close. Maximize Retirement Plan Contributions There’s still time to max out contributions to 401(k), 403(b) or other tax-deferred savings plan. The …

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Four Reasons to Double-Check Your Pay Stub Now

BY Ed Jastrem IN Planning Pulse
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With only a few payroll periods left in the year, it’s time to check in on just how much you’ve contributed to your employer-sponsored retirement plan. While 2020 IRA and Roth contributions are permitted through April of 2021, your contributions to a 401(k), 403(b) or 457(b) must be made from salary deferral before the end …

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2020 Secure Act Overview

BY Ed Jastrem IN Planning Pulse
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The appropriations bill signed into law before 2019 year-end included significant changes to tax and retirement regulations. Many are calling the law the most substantial retirement legislation in over a decade. The SECURE Act (Setting Every Community Up for Retirement Enhancement) and other tax extenders tucked inside the legislation contain both benefits and drawbacks. Traditional …

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2019 Year End Financial Planning Checklist

BY Kristin Castner, CFA IN Planning Pulse
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The following list is meant to help organize your year-end personal finances. Consider what items are important to you along with other goals to help communicate questions and concerns to your financial planning team. Provide Tax Returns: Heritage uses your tax return to update your financial plan and to analyze a variety of potential strategies. …

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