Rate of Change is an important concept for financial analysts and economists. The average investor does not use the concept as often, but we believe understanding the tool is still important. Rate of Change refers to the acceleration or deceleration of an underlying speed. For example, a car that is driving forward at 50mph and
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Special Note: Just a reminder that we offer tax preparation through our tax team at Summit Tax Services/Heemer Klein. If you’d be interested in a quote, as we’re very competitive, please give us a call at 586-459-5340. Our goal is to make tax time easier on you. 2022 will go down as one of the
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One way to increase your net worth and annual income is to pursue a passive income strategy. Passive Income may be beneficial because you do not need to put in the time or work on your end to generate the income stream. You simply need to invest some of your own capital and allow your
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The income levels for 2023 tax brackets include an adjustment higher for every bracket, but the tax rates are not changing. The standard deduction will be increasing as well as the retirement and HSA plan contribution limits. These changes should be taken into consideration for individuals and families with more involved tax planning situations since
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Tax Loss Harvesting is a great end-of-the-year tax planning tool. The goal of this exercise is to sell investments at a loss to offset other potential income taxes. Offsetting Capital Gains and Income Capital losses can be used to reduce capital gains in a given year since only the ending net result is the
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