Are you planning to retire in the next few years? If so, you’ll want to get to know IRMAA to avoid one of the more stealthy taxes. Wait, What?! Unfortunately IRMAA is one of those nasty surprises that hits you and you go “Wait, what?!” Your tax preparer can explain it to you after you… read more
Are You Prepping or Planning?
February 15, 2021
Posted in: Financial Planning, Taxes
Income tax season is upon us as 1099s fill our mailboxes and the filing deadline looms just 60 days from now. Many filers will turn to Turbotax or other software and nervously complete the forms, hoping not to make a mistake that might bring on the wrath of the IRS. They may also be anxiously… read more
COVID Gives US Economy Swine Flu
January 15, 2021
Posted in: Financial Planning, Investments, Retirement Planning
Do you remember the PIGS? The European Debt Crisis a decade ago centered around Portugal, Italy, Greece and Spain. Their governments and banking systems were in dire straits after excessive borrowing and they needed to be bailed out by their European neighbors, the European Central Bank and the International Monetary Fund. The crisis dragged on… read more
Itemized Deductions—Could They Help You?
December 15, 2020
Posted in: Charitable Giving, Taxes
As the year comes to an end, it is time to start looking at your deductions, and whether you will be taking the standard deduction or itemizing. When taking the standard deduction, the IRS has set dollar amounts—based on filing status—to subtract from your income. You also have the option to itemize which allows you… read more
10 Tips To Help Aging Parents With Their Finances
November 15, 2020
Posted in: Estate Planning, Financial Planning
Eventually, many of us will need to help our aging parents and loved ones with their finances. So, when the time comes, here are some tips to help you handle the subject with sensitivity, respect, and competence. 1. Schedule a meeting to see an estate planning attorney with the parent(s). If you are going to… read more
Ten Reasons to Tax Plan Now
October 15, 2020
Posted in: Financial Planning, Taxes
Taxes are the biggest expense for many Americans, and yet, most fail to do much to reduce their income taxes. Those that use a professional tax preparer may get some good suggestions when they get their tax return done early in the year, but to get the best tax savings, you need to so some… read more
Three Factors May Reduce Your Retirement Income
September 15, 2020
Posted in: Vintage News
With all of the chaos this year, one area where many Americans may feel pretty good is their finances. If you’ve been able to keep your job and didn’t sell off your stock holdings in the spring’s bear market, you may feel that you are still on track for that comfortable retirement. Or, if you’re… read more
Can I Take a Home Office Tax Deduction?
August 15, 2020
Posted in: Financial Planning, Taxes
As a result of the COVID-19 pandemic, many people who do not typically work from home are doing so now. And many workers will continue to do so for the foreseeable future. This brings up an interesting question, “Do I qualify for a tax deduction if I work from home?” The Tax Cuts and Jobs… read more
2020 Planning Checklist
July 15, 2020
Posted in: Estate Planning, Financial Planning, Retirement Planning, Taxes
The world has changed dramatically in 2020 so it’s a good time to revisit your financial planning. There have been three major tax laws enacted over the past several months and many people’s income will look very different this year. It’s also a good time to revisit your retirement plan and estate plan. And Michiganders… read more
Why Real Estate?
June 15, 2020
Posted in: Vintage News
Since Vintage was founded in 1985, we’ve always allocated some of our client’s funds to real estate investments. The allocations have changed based on our outlook for the investment class and our client’s situations. Today, we have a larger allocation than usual, especially for our retired clients. If we look back throughout US history, it… read more