Domicile is a lesser-known concept that goes beyond where you own property or where you spend most of your time and it is essentially intent-based. Domicile is a person’s fixed, principle, and permanent home or the place they intend to remain or return to, after being absent. While you can have multiple residences across many states, you can only have one domicile for state income tax purposes.
Over the last decade, there hasn’t been much to complain about when it comes to equity performance. Even after the sharp decline seen in financial markets earlier this year, equity indices have rebounded with strength and now sit at or near all-time highs. The resilience, performance, and consistency of the market in the last ten years has been nothing short of impressive—that is, unless you’re a value investor.
One adjective that describes this year is ‘uncertain’. Regardless of what the future brings, proactive year-end planning is always essential. Here is a checklist of things to consider before the end of 2020.
If you have not given serious thought to refinancing or analyzing how borrowing at low rates may benefit your broader financial situation, now is the time. Many financial rates are at historic lows due to current conditions, market instability and high demand for safety in the form of lower volatility.
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