Our intrepid employees in Washington DC have once again passed a last-minute tax act, part of which is retroactive for the entire year of 2019. Apparently, none of them actually prepare their own tax returns. This law, known as the SECURE Act, is 715 pages long. I haven’t read all of it yet but I doubt if many members of Congress have either.
Year-end is my time for reflection and renewal. Business owners use it to set goals and develop a plan with benchmarks for the next year. I started applying this perspective to my personal life.
The end of last year was hectic, with my knee replacement in November and my mother-in-law’s death at Christmas.
As the year draws to a close it’s tempting to try to predict what 2020 will bring, especially in the markets. Here’s a brief article from the thoughtful people at Dimensional Fund Advisors discussing that very topic.
The year 2019 served up many examples of the unpredictability of markets.
There is no gift that says “I love you” like a lower tax bill in April. Between all the holiday parties and batches of eggnog, there are some financial tasks to check off your list before Dec. 31. In addition to a gift of time, it is probably one of the more important gifts to give.
◗ Contributions to Indiana 529 plans.
Music fans of a certain age were saddened to learn of the recent passing of Aretha Franklin, long known as the Queen of Soul. Financial planners of all ages were saddened to learn of yet another person dying without a complete estate plan, including a will. Unfortunately, she’s just the latest in a long line of famous people who should have known better.
I grew up in the days when Halloween was fun and safe. The only downside was that I had older brothers who made a point of trying to scare me—and they often succeeded. As an adult, I don’t need my brothers to scare me. I just need to think about the future of retirement in America.
All investors recognize the need for information.
According to Wikipedia, today’s title relates to a governmental decision to reduce regulations and taxes in order to attract business to its jurisdiction. Often attributed to Justice Louis Brandeis, the concept has been around since the late 1800’s.
The retail brokerage industry began in New York City in 1792 with the signing of the Buttonwood Agreement. It established the organization now known as the New York Stock Exchange and fixed commissions for customers at one quarter of one percent.