Portfolio Solutions Blog
There’s a lot to consider when your child turns 18, isn’t there? You’ve contributed to their 529 plan for years, the car is packed, and your child is ready to head off to college. On top of that, they can vote and enlist in the military - it’s quite a list. Perhaps the most mind-boggling thing as a parent is to realize your child is an adult – maybe not in your eyes, but they definitely are in the eyes of the law.
It’s important to take your child’s legal adult status into account, because as an adult, their information is considered private, even from their...Read More »
The discussion of whether to convert your IRA to a Roth IRA evokes a wide range of opinions regarding if, when, and how you should convert the assets in your account. Some advisors believe you should always convert all your Traditional IRA (also called a Contributory IRA) assets to a Roth, while others feel you should never convert. The truth lies somewhere in between.
It’s important to understand the different tax treatment of IRAs. A Traditional IRA is funded by making contributions, and if you qualify under IRS rules, you can deduct your contribution from your taxable income. You...Read More »
We are pleased to introduce Anthony Watson, our Chief Investment Officer, as part of our “Meet the Experts” series.
“I’ve decided to retire soon, and I need some help.”
As a financial advisor, I hear this a lot. Most people know that retirement planning involves considering expenses and managing income from assets, pensions, and other sources. What they often don’t realize is that cash flow management, while important, is only one component of the complex series of moving parts that make up a retirement plan.
Retiring is a process that requires time and careful planning. Engaging a financial advisor can ease this transition. Their knowledge and experience can make a complex...Read More »
If you’re looking to help others with your money while receiving tax benefits and tax savings, you’ve come to the right place. Here are five topics related to charitable giving that can provide excellent tax advantages for you:
1. Charitable Contributions
Gifts to charity are one of the best tax saving opportunities available. Not only does the charity benefit, but the taxpayer receives a tax deduction. Of course, as with most tax deductions, there are limits to charitable contributions. These are updated yearly, so the Internal Revenue Service (IRS) makes...Read More »
On April 6, 2016, the U.S. Department of Labor issued new rules requiring brokers to act in the best interestsof their clients – when advising on retirement accounts. As a Portfolio Solutions® client, you can rest assured that we act in your best interests AT ALL TIMES, whether related to your retirement accounts, taxable accounts or any other financial guidance we help you with. This is because Portfolio Solutions® has always operated as a Registered Investment Advisor, regulated by the U.S. Securities Exchange Commission (SEC), in accordance with the...Read More »