What to Ask When Your Adult Child Moves Home
Posted by Christopher Gullotti, MSFP, CFP® on Wed, 03/01/2017 - 18:11
Facing heavy college debt burdens and an unpredictable job market, many young adults today are returning home to live with their parents. In fact, according to a recent study by the Pew Research Center, more than 32 percent of young adults lived with their parents in 2014—more than lived alone or with a spouse or partner.
401(k) Withdrawals: Beware the Penalty Tax
Posted by Canby Financial Advisors on Wed, 03/01/2017 - 18:09
You've probably heard that if you withdraw taxable amounts from your 401(k) or 403(b) plan before age 59½, you may be socked with a 10% early distribution penalty tax on top of the federal income taxes you'll be required to pay. But did you know that the Internal Revenue Code contains quite a few exceptions that allow you to take penalty-free withdrawals before age 59½?
Sometimes age 59½ is really age 55...or age 50
Encouraging a Culture of Philanthropy in your Business
Posted by Canby Financial Advisors on Wed, 03/01/2017 - 18:08
As a business owner, you are committed to serving the needs of many different stakeholders, including your customers/clients, business partners and investors, employees, vendors, and family members. And like many business owners, you may also be highly motivated to have an impact on the "greater good." The benefits of giving back are both tangible and intangible, but where do you begin? Start by fostering a culture of philanthropy within your business.
Understand the "triple bottom line" approach
Investments that Make an Impact
Posted by Canby Financial Advisors on Wed, 03/01/2017 - 18:06
Socially responsible investing (SRI) has come to represent various investment strategies that favor companies with business practices generally viewed as socially responsible, ethical, and/or sustainable.
Overall, investor interest in SRI has been gaining momentum. In fact, the number of investment funds incorporating ESG (environmental, social, and governance) factors has increased 12% in the last two years alone, from 894 in 2014 to 1,002 in 2016. These 1,002 funds represent $2.6 trillion in net assets.1
What is SRI?
To Pay or Not to Pay: How to Survive a Ransomware Attack
Posted by Christopher S. Borden, CRPS® on Tue, 02/14/2017 - 18:29
Imagine this: You open an e-mail that seems to come from Google, prompting you to click a link to reset your password. But when you click, a mysterious .exe file downloads and launches. Slowly, all the files on your desktop turn into white paper icons, and the names of all your files turn into scrambled nonsense.
What is happening here? Unfortunately, you’ve probably fallen victim to a ransomware attack.
The threat defined
Tax Tips for the Self-Employed
Posted by Canby Financial Advisors on Tue, 02/14/2017 - 18:27
Being self-employed has many advantages — the opportunity to be your own boss and come and go as you please, for example. However, it also comes with unique challenges, especially when it comes to how to handle taxes. Whether you're running your own business or thinking about starting one, you'll want to be aware of the specific tax rules and opportunities that apply to you.
Understand the self-employment tax
Quiz: How Much do you Know about Social Security Retirement Benefits?
Posted by Canby Financial Advisors on Tue, 02/14/2017 - 18:25
Social Security is an important source of retirement income for millions of Americans, but how much do you know about this program? Test your knowledge, and learn more about your retirement benefits, by answering the following questions.
1. Do you have to be retired to collect Social Security retirement benefits?
2. How much is the average monthly Social Security benefit for a retired worker?
529 college savings plan
Posted by Canby Financial Advisors on Tue, 02/14/2017 - 18:23
529 college savings plan
A 529 college savings plan is one of the best vehicles for multigenerational college funding. 529 plans are offered by states and managed by financial institutions. Grandparents can open a 529 account on their own — either with their own state's plan or another state's plan — and name their grandchild as beneficiary (one grandchild per account), or they can contribute to an existing 529 account that has already been established for that grandchild (for example, by a parent).
Key Retirement and Tax Numbers for 2017
Posted by Canby Financial Advisors on Tue, 01/10/2017 - 19:04
Every year, the Internal Revenue Service announces cost-of-living adjustments that affect contribution limits for retirement plans, thresholds for deductions and credits, and standard deduction and personal exemption amounts. Here are a few of the key adjustments for 2017.
How do I know which credit card rewards offer to choose?
Posted by Canby Financial Advisors on Tue, 01/10/2017 - 19:03
Credit card reward programs are more popular than ever. In order to keep up with such high demand in a competitive market, credit card companies are coming up with new and more enticing offers every day. How do you know which one to choose?