Author: Kendall Capital

The Internal Revenue Service (IRS) has released new limits for certain retirement accounts for the coming year. Individual Retirement Accounts (IRAs) Traditional IRA contribution limits are up $500 in 2024 to $7,000. Catch-up contributions for those over age 50 remain at $1,000, bringing the total limit to $8,000. Remember, once you reach age 73, you … Continue reading “New Retirement Contribution Limits for 2024”

What you think is your tax rate may not actually BE your tax rate. For instance, if you report just over $182,000 in adjusted gross income, the tax table says you’re in the 32% tax bracket. But you aren’t going to be paying anywhere near 32% of your reported income to Uncle Sam. There is … Continue reading “Effective vs. Marginal Tax Rates”

’Tis the season when many financial services professionals look at the best way to offset the taxable dividend distributions their clients might be receiving, using losses that can be ‘harvested’ by selling under-water investments and booking the losses on taxable (that is, not IRA or Roth) accounts. This is not always a trivial exercise; a … Continue reading “The Economics of Tax-Loss Harvesting”

If you donate money to somebody in need, you can write off that gift on your tax returns, right? If only the charitable contribution laws were that simple. The actual rules say that you can itemize your charitable donations on Schedule A of IRS Form 1040.  But (and these are enormous ‘buts’) only if you’re … Continue reading “Charitable Contribution Complexity”

Nobody is talking about the fact that the tax provisions in the Tax Cuts & Jobs Act of 2017 are due to revert back, after December 31, 2025, to what they had been in 2017—just 26 months from now. But if and when that threshold is crossed, it could be a rude awakening for a … Continue reading “The Looming Revert”

Pssst? Want to buy a low-interest bond? That’s basically what the Federal Deposit Insurance Corp. is saying to investors, who are understandably not eager to take them up on the offer. The bonds in question are part of the $114 billion in debt obligations that the agency acquired when it took over the failed Silicon … Continue reading “The FDIC’s Dilemma”

The phrase ‘good old days’ suggests that we’re not living in the best time in history, but it often begs the question of when WERE the ‘good old days?’ Was it before our lives were ruined by technology? Was it during the derring-do age of knights in shining armor and the birth of romantic love? … Continue reading “Would You Want to Live Back in the Good Old Days?”

According to a recent survey, more than half of all Americans fear for their financial futures. Another study says that 77% of Americans feel anxious about their current financial situation. Even if both of the surveys overstate the numbers, the fact is that many of us have phobias about our finances, often rooted in past … Continue reading “Common Financial Phobias”

With the slow leak in the markets lately, you might not realize that we are currently experiencing an outrageous investment mania. Stocks of companies that are involved in artificial intelligence have been soaring at unprecedented rates, prominently including Upstart Holdings (up 393% this year alone); C3.ai (255%); Nvidia (220%); Palantir Technologies (177%) and Meta Platforms … Continue reading “The New Tech Mania: AI”

Much is written about the classic financial mistakes that plague start-ups, family businesses, corporations, and charities. Some classic financial missteps have been known to plague retirees, too. Calling them “missteps” may be a bit harsh, as not all of them represent errors in judgment. Either way, becoming aware of these potential pitfalls may Middle-Class Millionaires … Continue reading “Navigating Retirement Pitfalls”