tax refund

New IRS Guidance on Your Tax Refund

The Tax Cuts and Jobs Act of 2017 included a $10,000 ($5,000 if married filing separately) cap on the amount of state and local taxes that can be claimed as an itemized deduction on Schedule A of Form 1040. If you itemize deductions that include a deduction for state and local taxes and then subsequently…

529 plan

Using a 529 Plan to Save for College

With the costs of college on the rise, establishing a savings plan early is vital. A 529 plan is a tax-advantaged education savings vehicle and one of the most popular ways to save for college today. It can also be used to save for K-12 tuition. Much like the way 401(k) plans changed the world…

short term recovery care

Short Term Recovery Care

The decision of whether or not to purchase insurance for future healthcare expenses is an important one. Our team of CERTIFIED FINANCIAL PLANNER™ professionals have helped many of our client families navigate this question. We weigh the impact that Long-Term Care Insurance (LTCI), self-funding or other alternatives may have on the overall financial plan. Increasing…

financial planner salem oregon

The Future of Social Security and Medicare

Most Americans will eventually receive Social Security and Medicare benefits. Each year, the Trustees of the Social Security and Medicare Trust Funds release lengthy reports to Congress that assess the health of these important programs. The newest reports, released on April 22, 2019, discuss the current financial condition and ongoing financial challenges that both programs…

tax scam

2019 Tax Scams

The IRS recently issued its annual list of tax scams. The list highlights various scams that taxpayers may encounter, many of which occur during tax filing season. Here are some of the scams that are highlighted on the list. Phishing Phishing scams usually involve unsolicited emails or fake websites that pose as legitimate IRS sites…