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....

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...

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.  ...

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...

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...

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...

NOTE ABOUT IRA TO ROTH IRA CONVERSIONS: Each year, we recommend that our clients consider converting money from an IRA to a Roth IRA. Because of our national debt, we believe that taxes will need to be raised in the future, and tax brackets will correspondingly be...

Budget for holiday shopping and gifts before spending. Review retirement contribution amounts and limits for the current year. Set budget and financial goals for the upcoming year.  Evaluate tax planning strategies such as Tax Loss Harvesting, Charitable...

NOTE ABOUT IRA TO ROTH IRA CONVERSIONS: Each year, we recommend that our clients consider converting money from an IRA to a Roth IRA. Because of our national debt, we believe that taxes will need to be raised in the future, and tax brackets will correspondingly be...

Dollar Cost Averaging is the technique of systemically funding and investing savings based on a recurring timeframe.  This strategy is used to avoid complications with attempting to time market bottoms and tops.  We also believe this is a beneficial strategy from a...

Perform exceptionally well at your current employer and be rewarded with an appropriate raise.  Always be looking for another employment opportunity that includes higher pay. Pick up a second job or acquire a passive income stream to supplement your current income....

SPECIAL NOTE ABOUT TD AMERITRADE STATEMENTS AND CONFIRMATIONS: If you recently started receiving additional mail from TD Ameritrade, it may be because you haven't logged into your online account and confirmed your mailing preferences since TD Ameritrade and Charles...

The recent high in inflation has many economists and everyday citizens wondering if we are headed to the next recession. Two consecutive quarters of negative GDP reports signal a recession by the traditional definition, so we have technically entered a recession....

As a result, student loan payments have been deferred again until December 31, 2022. Middle to low-income families may be eligible for up to $10,000 of forgiveness and $20,000 for those who received Pell Grants during college.  Revamp the current loan system to be...

SPECIAL NOTE ABOUT TD AMERITRADE STATEMENTS AND CONFIRMATIONS: If you recently started receiving additional mail from TD Ameritrade, it may be because you haven't logged into your online account and confirmed your mailing preferences since TD Ameritrade and Charles...