Paper Stock & Bond Certificates

Even in a modern digital and virtual world, we encounter paper stock and bond certificates from time to time. If the company that issued the certificate still exists and the legal owner is verifiable, the paper certificate may be transferred into a brokerage account and then traded like any other stock. Older companies may still… More >

2020 Secure Act Overview

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… More >

Anticipating Revised Life Expectancy Tables for Retirement Account Distributions

The IRS recently proposed changes to life expectancy tables that would decrease the amount of annual required minimum distributions (RMDs) from retirement accounts. The tables currently in use are close to 20 years old and have not reflected Americans living longer, on average 1.6 years greater, over that time. Unlike many other age-based or income-based… More >

2019 Year End Financial Planning Checklist

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…. More >

Thinking of Downsizing?

Unlike so many of life’s moments of transition, the ideal time to downsize is different for every family. While it generally takes place after children leave the house (maybe after the second time they leave the house), for some it comes sooner, and others much later.  Making this activity more challenging and daunting is the… More >

Health and Wealth Leadership Forum, Big Brothers Big Sisters of Greater Boston

At the recent Big  Brothers Big Sisters of Massachusetts Bay’s  Health and Wealth Leadership Forum four of New England’s leading Investment Advisors, together with the Director of MIT’s AgeLab took on a topic that is gaining momentum across the investment world – Investing for Longevity.  With the population living longer, healthier lives the requirements for… More >

Your Paycheck: Take a Close Look at Your Withholdings

In early 2018, the IRS released new payroll withholding tables to reflect changes from the Tax Cuts and Jobs Act. Payroll edits were made by employers and their payroll providers. As a result, the federal income tax withheld from your pay likely changed, even if your compensation remained the same and you did not proactively… More >

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 >

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 >