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market recap

Summer 2019 Market Recap

In our Summer 2019 Market Recap, Dmitriy Katsnelson and Michael Moriarty of our investments team discuss recent market trends and what to expect looking ahead. Wealthspire Advisors is the common brand and trade name used by Sontag Advisory LLC and Wealthspire Advisors, LP, separate registered investment advisers and subsidiary companies of NFP Corp. This information should not be construed as a recommendation, offer to sell, or solicitation of an offer to buy a particular security or investment strategy. The commentary provided is for informational purposes only and should not be relied upon for accounting, legal, or tax advice. While the…
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secure act

SECURE Act: Changes May Be Coming Soon to Retirement Savings

By Blog
Believe it or not, there is something that Democrats and Republicans in Congress can agree on, and that is the need for all Americans to increase their retirement savings. Although there is not yet consensus on what any final legislation may look like, there are enough similarities between House and Senate proposals to believe that there could be some movement here. The Senate Finance Committee first reported the Retirement Enhancement and Savings Act (RESA) in November of 2016, followed by a House version known as the Setting Every Community Up for Retirement Act (SECURE), which passed the House Ways &…
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female advisors

The Wealth Management Experience for Female Advisors & Clients

By , and Blog
Perspectives from Women Advisors at Wealthspire Advisors As we observe International Women’s Day on March 8th, there is a lot to celebrate as gender gaps continue to be closed. 51% of women report they are the “CFO” of their household, and 62% of women report either being the main or co-breadwinner in their family. At the same time, it’s no secret that financial services industries continue to be male-dominated. Female financial advisors make up only 17% of the industry and women advisors account for only 23.3% of all Certified Financial PlannersTM (CFP®s). What’s reassuring is that the tides are starting…
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Opportunity Zones: Tax-Advantaged Investments to Bring Capital to Disadvantaged Communities

By Blog
The Tax Cuts and Jobs Act of 2017 created a new tax-preferred opportunity that seeks to reinvigorate certain depressed communities while providing tax incentives to investors. According to the IRS, an Opportunity Zone, popularly dubbed “O-Zone,” is an “economically-distressed community where new investments, under certain conditions, may be eligible for preferential tax treatment.” Localities qualify as Opportunity Zones if they have been nominated for that designation by the state, and that nomination has been certified by the U.S. Secretary of the Treasury. Investing in an Opportunity Zone through “Qualified Opportunity Funds,” or business entities that invest in tangible property within…
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Qualified Business Income (QBI)

By , and Blog
Deduction May Create New Planning Strategies for Some Business Owners The Tax Cuts and Jobs Act of 2017 introduced a new 20% tax deduction focused on pass-through businesses. As tax accountants pore through the Internal Revenue Service’s recently released 184-plus pages of guidance on the so-called Section 199a deduction for “qualified business income” (QBI), many business owners are wondering whether they will qualify. While everyone’s circumstances are different, and we encourage consultation with a tax advisor, the Act created an opening for several planning opportunities to potentially reduce tax bills for owners of such businesses. First, a little background. Qualified…
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quarterly review

2018 1st Quarter Review: “Protectionists Hide in Your Wallet”

Market Commentary
It is often fun (at least for us) to go back and re-read some of our prior quarterly missives. One of our favorites from a couple of years ago was about “Andrew Jackson” and the parallels of his presidential bid in the late 1820’s to the then impending election. If you remember, he ran on an economic platform of: Protect the American people from the rich and powerful. Reduce the national debt and reduce the government. Strip the Second Bank of the United States of its central bank status and charter. Use protective tariffs to protect vital industries to the country’s…
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The Cryptocurrency Question

By Guides & Whitepapers
The most common financial question that we have been asked over the last six months or so relates to Bitcoin1 (or any type of other cryptocurrency). Is it real? How is it valued? Should we invest in it? Can it keep going up in price? The answers to these questions are not easily answered, are complex, and are dynamic over time. To start, Crypto comes from the Greek Kruptos, which means “hidden.” Because of the complexity of the subject matter, we would prefer to hide from making an opinion on cryptocurrencies in general. However, they (and the technology surrounding them)…
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tax law changes

After Tax Reform: What Will Your 1040 Look Like?

By and Blog
One of the most extensive tax code overhauls in decades is now law. Below is a brief outline of some of the major changes you may see on your Form 1040 for 2018 due to this tax reform (remember these changes have almost no impact on your 2017 return): Income Tax Rates and Brackets: The number of income tax brackets remains steady at seven, although some income shifted into lower brackets. Click here for a breakdown of the new brackets. Below are a few examples of how the tax reform would impact your 2018 return: For example, for a married…
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Keep Your Identity to Yourself!

By and Blog, Guides & Whitepapers
With all the recent headlines from the hacking of consumer data at Equifax, combined with data breaches over the years at Target, JPMorgan Chase, Yahoo!, Sony, and many more, it is probably safe to assume that your personal financial data is not completely secure in our cyber world. Per a recent study by Javelin Research out of Pleasanton, California, about one out of every sixteen US consumers were a victim of identity theft in 2016, with damages close to $16 billion. Further, most victims are not even aware that they have been hacked for many months. Fraudsters using your basic…
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IRS Announces 2018 Inflation Adjustments

By Blog
Last week, the IRS announced its 2018 annual inflation adjustments. Below are the highlights for items that changed: Standard deductions: For married filing jointly, increases to $13,000 (up from $12,700 in 2017). For single taxpayers and married individuals filing separately, increases to $6,500 (up from $6,350 in 2017) For heads of households, rises to $9,550 (up from $9,350 for 2017). Personal exemption increases by $100 to $4,150. The exemption is subject to a phase-out that begins with adjusted gross incomes of $266,700 ($320,000 for married couples filing jointly). It phases out completely at $389,200 ($442,500 for married couples filing jointly.)…
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