The stock and bond markets have had spectacular returns since the trough of the market on Christmas eve 2018. The stock market (S&P 500) is now up 44.7% and the bond market (Bloomberg Barclays US Aggregate Bond Index) is up 9.6%. While investors have no doubt enjoyed these returns, they should be aware of the potential for an unintended, and potentially unwanted, consequence of strong markets.
The Setting Every Community Up for Retirement Enhancement (SECURE) Act is one of the biggest pieces of legislation regarding retirement plans in recent memory. As with any update to the tax and retirement planning landscape, it’s important to review your particular situation to understand the potential effects of these changes.
There is still time to implement some great tax planning ideas for 2019. While many planning tools remain similar to last year, the IRS has issued new guidance that could affect your tax situation. Learn more about Charitable Contributions, Standard vs. Itemized Deductions, Medical Expenses, Standard Mileage Rates, Qualified Business Income Deduction, New Guidance Regarding Virtual Currencies, Estimated Tax Payments, Capital Gains/Losses, 2019 Bonus, Passive Activity, 529 College Savings Plans, Gifts.
Whatever the circumstances, with newly created or realized wealth comes great responsibility, significant complexity and potentially unsettling emotions. Handling this responsibility effectively can help ease your financial stress, simplify the associated burdens, and enable a more gratifying life experience.
Investment advisory services are offered through The Fairman Group, LLC. The Fairman Group, LLC is registered with the Securities and Exchange Commission under Section 203(c) of the Investment Advisers Act of 1940.
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