Understanding Donor Advised Funds (DAFs) (Aug 22, 2019)

First established in the 1930s, Donor Advised Funds (DAFs) have become increasingly popular in recent years. By 2017, there were 463,622 individual Donor Advised Funds in the US, holding more than $110 billion in assets [1]. Giving from DAFs now accounts for around 8.3% of all individual gifting in America today [2].

For clients intent on sharing wealth through a planned giving strategy, or for those seeking to optimize charitable deductions following tax reform, a Donor Advised Fund can be a useful tool. SageVest Wealth Management discusses the basics of Donor Advised Funds (DAFs). 

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How To Maximize Charitable Giving After Tax Reform (Aug 20, 2018)

The recent Tax Cut and Jobs Act was the biggest overhaul of US tax legislation in decades. SageVest Wealth Management has been proactive in advising you on how the sweeping tax reforms may impact your investments and your wealth. We’ve focused on both the intended and unintended consequences to individuals, families, and businesses. Here, we provide some insights on tax reform and charitable giving, including strategies to maximize the value of your future charitable giving.

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Choosing The Right Accountant For Your Business (Jul 5, 2018)

Having the right financial advisor is a vital element of success for you and your business. For our business owner clients, SageVest formulates customized financial plans that blend both personal and business objectives into a cohesive roadmap.

Identifying the right tax preparer is equally essential for you and your enterprise. Jennifer Myers recently discussed ways for business owners to evaluate if an accountant’s the right fit, in Inc.’s article, ‘5 Ways To Tell If Your Accountants Know Their Stuff’.

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How Tax Reform Affects Your Alimony (Apr 13, 2018)

Alimony, also known as spousal support or maintenance, is typically paid by the higher earning spouse following divorce. While some states still award lifetime alimony, it’s barred in others, so today, most alimony is rehabilitative and durational: paid for a set amount of time following divorce, or until the recipient remarries.

Recent tax reform changes have shaken up the divorce planning arena. The previous tax status for alimony (in place since 1942) is soon to reverse. If you’re wondering how new tax laws impact your existing or upcoming divorce settlement, SageVest Wealth Management has a number of answers for you.

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How The New Tax Laws Impact You (Dec 28, 2017)

The recently legislated tax reform made for an extraordinary end to 2017, when considering how the new tax laws impact you, your family and your finances. Despite an objective to simplify the tax code, it remains complex, particularly the determination of whether you’ll be facing higher or lower taxes in the future.

SageVest Wealth Management outlines the primary changes in individual taxes, focusing on the areas that render the greatest impact to our clients. The majority of tax changes discussed will expire on December 31, 2025, unless otherwise noted.  

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What The Tax Reforms Mean For You (Nov 7, 2017)

If you haven’t already done so, it’s time to begin thinking about year-end tax planning, which is always important, but is all the more significant this year, in light of the potential tax changes ahead.

Proposed tax reforms, released last week, are generally planned for implementation in 2018. This makes year-end tax planning a bit more predictable.  However, it’s wise to evaluate your 2017 tax planning with 2018 proposed changes in mind, as advance planning could allow you to capture opportunities that might disappear or change.

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A New Year, A New Tax Year (Feb 8, 2017)

The 2017 tax filing season began on January 23, 2017. That’s the day that the IRS began accepting electronic tax returns. Electronic filing is now the most popular method for preparing and submitting tax returns, accounting for more than 80% of total returns filed in the US. Altogether, an estimated 153 million individual returns will be submitted during the upcoming tax year.

This year sees a number of updates to tax return processing. In line with our commitment to facilitate client tax preparations, SageVest Wealth Management offers an overview of the latest IRS updates.

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Tax Opportunities For Military Members (Nov 11, 2016)

Each Veterans Day, SageVest Wealth Management is proud to join the rest of our nation in offering thanks to the brave men and women who defend our everyday freedoms. We thank you for your service.

Gratitude for your dedication also comes from perhaps a more unexpected source: namely, the IRS and state tax agencies. There are a variety of special Federal and state tax breaks available only to members of the US Armed Forces; because the sacrifices that you and your family make should not extend to your finances.

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Hiring A Domestic Employee (Sep 30, 2016)

For many people, juggling family, work, and household priorities can be a daily challenge. If your finances allow, hiring some household help can streamline your schedule and free up precious time for you to spend enjoying what matters most, with the ones you love.

Whether you’re considering a part-time maid to help keep your home tidy, or someone for a more demanding role like a live-in caregiver or personal assistant, there are a number of factors to weigh carefully before you hire someone.

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Taxable Pay For Business Owners (Jul 18, 2016)

If you’re an entrepreneur, you know that running a business requires ongoing work and planning. For your business to succeed, the most fundamental elements are to grow revenues and maximize profits.

One of the most tempting ways to keep your company expenses low is to pay yourself very little, or even nothing, in the form of W-2 income. While this strategy will definitely lower your payroll expenses and some tax liabilities, there may be potential personal and business costs in the long-run.

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