Back To School
Across the country, school supplies have been purchased and many children have returned to the classroom to start a new school year. The give and take between teachers and students can produce some memorable – and humorous – moments. The following are from stories...
We are nearing the end of a fantastic year for the stock market. It is not unusual for our clients to be up 20% this year. This is a good time to consider the following:
– Avoid taking unnecessary gains in taxable accounts. By waiting until January 1, you can push the tax obligation out into 2026.
· Take as many losses as you have in taxable accounts to save taxes in 2025.
· Have a strategy to protect your gains. Using stop-loss orders can help avoid giving back hard-fought profits.
· Consider switching from traditional mutual funds to exchange traded funds (ETFs) to control your gains better and likely reduce taxes. If you bought a Growth fund mid-year, and the fund decided to sell a stock it has held for years, you get to help pay taxes on those gains. This is not true for ETFs.
· Prepare a year end balance sheet measuring end-of-year balances on all assets and liabilities. This is an easy way to track your financial progress over time.
