For Maximum Impact, Develop a Charitable Giving Plan

Your last name doesn’t need to be Rockefeller to have a charitable giving plan.  Charitable giving means different things to different people.  Some of my clients tithe which by definition means giving 10% of your income to charity.  Other clients that I work with feel that they pay taxes and that in their mind is charity enough.  Wherever you may fall on that spectrum, there are strategies that can help you to get the most bang for your charitable buck.
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Your Mortgage, Tax Strategies and Retirement

I get the question a lot – should I pay off my mortgage. The answer is that depends.

If I told you that I had a vehicle that allowed you to pay $10 in interest to save $3 in taxes, would you do it? The answer is probably no. Assuming that you are in a 30% tax bracket to keep the numbers easy, that’s what a mortgage is – and that math doesn’t always go in your favor. Please be sure to consult your tax advisor with regards to the tax strategies discussed in this article.

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Should You Relocate in Retirement?

As many people approach retirement, they start thinking about moving. Before you move, make sure that you think it through.

Do you have family considerations that will keep you in your current area? Is it important to you to stay close to your children, your grandchildren or even your parents? As people are living longer, those in their sixties and seventies are finding themselves more and more responsible for the care of their parents or other older relatives. If this describes your family, you may want to come up with an alternative game plan before heading south.

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We’re Here to Help!

We’re here to help!

I am writing today to address the situation with the corona virus in Maryland and to assure you that we are both actively monitoring this situation as well as prepared to address your service and meeting needs should the situation become worse.

Not a day goes by that we don’t receive notice of another notice or closure due to the Covid-19 virus. We prepared and have begun implementing our contingency plans to be able to continue to offer you service, even if we are unable to physically be in the office.

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Purchasing a Second Home

Do you envision a home at the beach with the sun shinning over crystal blue waters and miles of sand just waiting for you to spend time relaxing on? Perhaps you see yourself walking into your ski house armed for the coming week with the ability to work out of your home office during the day and ski in the evenings. You see friends and family gathering at your house to enjoy all that the second location has to offer. Maybe you see an investment property that you spend one to two weeks a year enjoying and then rent out the house for the remainder of the year to pay for it all.

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Too Much Cash in Your Bank Account

It happens. You open your bank statement and realize that over the past couple of years your bank account has crept up to $50,000, $100,000 or even $200,000. It feels good to open that statement and see that cash sitting there. It means that you won’t have to worry about paying your bills. You are covered. Unfortunately, you may be hurting yourself in the long run.

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