You are worth much more than your financial wealth. Your lifetime of wealth includes the sum of your experiences, knowledge, values, and moral guidance, as well as your accumulated financial wealth. But financial wealth is important in many ways. When you apply for a mortgage or car loan, the bank wants to know about your financial situation, not your life experiences. Similarly, your family will need your financial wealth to pay bills in your absence. You are taxed on your financial wealth, not … [Read more...]
New Administration Could Mean HUGE Tax Hikes
While there’s still so much debate going on with the fate of our country, there’s one clear thing, Biden’s proposed tax plan may result in a significant tax increase for some if passed. Every day that goes by could be a missed opportunity to take advantage of current law. The new tax plan could be passed anytime this year or in the coming years. If passed this year, it could be made retroactive as early as January 1! Not sure if this will impact you? Here are the highlights of what’s … [Read more...]
