The BOI Reporting saga continues⊠In the latest development, the Financial Crimes Enforcement Network (FinCEN) has reinstated the Beneficial Ownership Information (BOI) reporting requirements under the Corporate Transparency Act (CTA). This follows a recent federal court decision that lifted the previous nationwide injunction, thereby reactivating the mandate for entities to
Starting in 2025, retirement savers in their early 60s will have an exciting new opportunity to boost their savings. Thanks to the Secure Act 2.0, individuals aged 60 to 63 will be eligible for increased catch-up contributionsâwhatâs now being called the âsuperâ catch-up contribution. This change aims to help older
Building a strong credit foundation for your child can set them up for financial success in adulthood. By introducing them to credit concepts early and guiding them through responsible money management, you can help them establish good financial habits. Here are five key steps to get started. 1. Start Early
DOWNLOAD THE PDF I look forward to writing this market update to share with our clients and our friends what we saw in the market over the past three months and what we see looking forward to the first quarter and the year 2025. I canât believe another year has
The 4th quarter of 2024 saw a mixed performance: the US Stock Market grew at 2.63% followed by the Global Bond Market (ex-US) at 0.74%. The other markets fell, with Global Real Estate experiencing the steepest drop at -9.02%, followed by Emerging Market Stocks (-8.01%), International Developed Stocks (-7.43%), and
One of the biggest financial dilemmas people face is deciding whether to pay off debt or invest. The right answer depends on several factors, but a good rule of thumb is to focus on paying off any debt with an interest rate above 4% before prioritizing investing. Why 4%? The
For self-employed individuals and small business owners, choosing the right retirement plan is a critical decision. Two popular optionsâthe Solo 401(k) and the SEP IRAâoffer unique advantages but serve slightly different purposes. This article explores their similarities and differences, highlighting why the Solo 401(k) may be the superior choice for
Should You Choose a 15-Year or 30-Year Mortgage? When buying a home, one of the most critical financial decisions youâll face is choosing between a 15-year and a 30-year mortgage. This choice not only determines your monthly payment but also impacts the total interest youâll pay over the life of
Why Most People Fail at Setting New Yearâs Financial Goals (and How to Succeed) Every year, millions of people set ambitious financial goals for the New Year. They vow to save more, spend less, pay off debt, or finally start investing for the future. But as the months roll by,
As wealth management strategies evolve, one financial tool has remained a key consideration for high-income earners: the Backdoor Roth IRA. This strategy allows individuals who exceed the income limits for Roth IRA contributions to still take advantage of the tax benefits that Roth accounts offer. But how does it work,