We began utilizing our new research partnership in March. If you haven't seen our previous update about our collaboration with the Sherman Group, LLC, please check the middle section of this article.   Mixed Results in March, But April Could Be Sunny We encourage...

The main two types of debt are Secured and Unsecured. The interest rate received, and the tax deductibility of the interest are two primary ways to evaluate the quality of debt.  It can be hard to retire with a large amount of debt, so we typically recommend clients...

The proposed budget could decrease the nation’s deficit by $3 trillion within the next ten years if approved. The main focus of the debate is the areas of increased taxation to offset increases in budget expenses. It is unlikely this proposition will pass the...

What Is Behavioral Finance? Behavioral Finance is the textbook term used when discussing human psychology as it relates to money management.  Emotions tend to drive the investment decisions of retail investors while large financial institutions rely on technical and...

A Recession or Depression occurs when the economy declines either a substantial amount or for an extended period of time.  There is commonly an identifiable trigger for the economic pullback, but it also could be caused by the timing of the economic cycle.  A...

The five tax filing status options are: Single, Married filing Jointly, Married filing Separately, Head of Household, and Qualified Widow. The filing statuses available to you will depend on your specific details, including marital status, number of dependents, income...

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...