If you are in the process of going through a divorce or believe that you may soon begin this process, you may want to consider the checklist below which contains some of the key financial items you may need to address. In addition to the emotional stress associated with divorce, you will also need to undo the many financial connections you and your spouse have developed over the years of your marriage. This list may help you begin to frame your thoughts on how to approach the financial aspects of your divorce. Please note, however, that this list is not comprehensive and should not be used in place of qualified legal, tax, or accounting advice that is specific to your unique situation and circumstances.
A number of tax law changes took effect earlier this year. Set forth below is a short summary of some of these changes. Please note, however, that this list should not be construed as tax advice. You should consider contacting your tax preparer or accountant if you have questions about how these changes might affect your personal tax situation.
Set forth below are some important tax dates for the remainder of this year. If you have questions about these dates or your personal tax situation, you should consider contacting your tax preparer or accountant.
You may have noticed that you did not receive a capital gains and loss report in your packet of quarterly account information. Due to recent tax law changes related to the annual reporting of capital gains and losses on fixed income instruments purchased at a discount or premium to par value, this information will now be prepared and sent to you by the custodian of your assets.
For many retirees, Social Security is a key source of financial support during retirement. Indeed, for all participants, Social Security is essentially like a pension plan that pays you inflation-adjusted monthly benefits from the time you elect to begin taking benefits until the time of your death. You cannot outlive your Social Security retirement benefits!