taxes Archives - Page 4 of 4 - CTS Financial Group

Stocks Stage Comeback After Heavy Monday

jmuch2024-08-12T10:23:05-05:00August 12, 2024|Categories: Weekly Update|Tags: chicago, CPI, Fed, Inflation, Interest Rates, investing, market volatility, markets, risk management, taxes, wealth management, women|

The Weekly Update

Week of August 12th, 2024
By Christopher T. Much, CFP®, AIF®

Stocks ended last week with modest losses, masking a volatile five-day trading period that saw investors embrace recession concerns and then dismiss the slow-down talk as speculation as the week progressed.

The Dow Jones Industrial Average slipped 0.60 percent, while the Standard & Poor’s 500 Index ended flat (-0.04 percent). The Nasdaq Composite dipped 0.18 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, fell 1.21 percent.

Stocks Stage Comeback
Monday was the worst day for the S&P 500 and the Dow in nearly two years. As recession talk grew louder, investors took a “risk off” position.

On Monday, the Japanese market had its worst drop since 1987 as market participants unwound positions from a popular trading strategy called a “carry trade” amid a global sell-off in stock prices.

But on Thursday, initial jobless claims fell less than expected—a positive …

Analyzing the First 100 Days

jmuch2021-06-04T13:31:08-05:00April 30, 2021|Categories: Resource Center, Weekly Update|Tags: investing, taxes|

Analyzing the First 100 Days

April 30th marked Joe Biden’s 100th day as Commander in Chief. What policies are impacting investment markets, and how might these policies influence your financial plan in 2021? We shared some of our thoughts in a recent article. https://bit.ly/3gD9wIt

Tax Planning: Year End Preparations

jmuch2019-10-25T10:13:51-05:00October 25, 2019|Categories: Resource Center|Tags: financial planning, taxes|

Tax Planning: Year End Preparations

The Tax Cuts and Jobs Act of 2017 continues to provide Americans with opportunities and challenges as they prepare to file their taxes. As we prepare to head into tax season once again, we feel that a review of deductions, tax brackets and exemptions may be in order. Grab a copy of our updated 2020 Tax Planning piece here. http://bit.ly/2p025CF

FSA vs. HSA

jmuch2025-03-26T08:48:26-05:00February 14, 2019|Categories: Resource Center|Tags: insurance, taxes|

FSA vs. HSA: Health Savings Account vs. Flexible Spending Account

FSA vs. HSA

A Health Savings Account (HSA) or a Flexible Spending Account (FSA). Which one should you choose? With several key differences between them, it literally pays to get this decision right.

When choosing between a Flexible Spending Account (FSA) and a Health Savings Account (HSA), it’s important to understand their differences. Both accounts help you save money for medical expenses, but they serve different purposes. Your decision depends on your healthcare needs and financial goals.

An FSA is set up by your employer, allowing you to save money through pre-tax payroll deductions. You can use these funds for deductibles, copays, and other out-of-pocket healthcare costs. However, the “use it or lose it” rule means that any unused funds at the end of the year are forfeited. Some employers may offer a grace period or let you carry over a small …

Key Takeaways of the SEP IRA

jmuch2025-03-26T08:52:31-05:00January 17, 2019|Categories: Resource Center|Tags: retirement, taxes|

Key Takeaways of the SEP IRA

Key Takeaways of the SEP IRA

April 15th will be here in a blink of an eye. Are you self-employed or a small business owner?

A SEP IRA (Simplified Employee Pension IRA) is a retirement account for self-employed individuals or small business owners. Business owners, whether they have employees or work independently, can use a SEP IRA to save for retirement. This account stands out because it offers higher contribution limits than traditional and Roth IRAs, making it a popular choice for those who want to save more for retirement.

The SEP IRA’s main advantage is its high contribution limit. For 2018, the maximum contribution was $55,000, and business owners can contribute up to 25% of each employee’s pay. Self-employed individuals face a more complicated calculation, as their contributions are based on net profit, using a rate of approximately 18.6%. These …

See What’s Cooking with Max Lukawski

jmuch2025-03-26T08:55:40-05:00November 16, 2018|Categories: Resource Center|Tags: chicago, taxes|

See What’s Cooking with Max Lukawski

See What’s Cooking with Max Lukawski

See what’s cooking with Max Lukawski, CTS Financial Group’s Director of Tax Services. Max took a crack at the Proust Questionnaire, revealing what he likes to do when he’s not crunching numbers.

When asked about his idea of perfect happiness, Maxim shares that it’s simply spending a quiet night at home with his wife and a glass of wine. He confesses that his greatest fear is spiders, admitting it’s an irrational fear. Maxim also speaks candidly about his anxiety, acknowledging that he often struggles to balance being a good husband, dog dad, and excelling in his job. On the other hand, he dislikes dishonesty in others, as he prides himself on always being truthful.

Maxim greatly admires Sal Khan, the founder of Khan Academy, for his mission to educate the world, believing it will shape a better future. His greatest extravagance …

CollegeWise Webinar – Harvard, Stanford or Bust

jmuch2025-03-26T10:35:45-05:00October 10, 2018|Categories: Resource Center|Tags: college education, taxes|

CollegeWise: Harvard, Stanford or Bust – a Webinar

CollegeWise Webinar – Harvard, Stanford or Bust

Just what does it take to get into the top colleges and universities in the country? How do you identify the school that’s the best fit for your student?

On October 24th, join us for a webinar with CollegeWise, the nation’s largest college counseling organization. We’ll debunk college admission myths and show you what the college admissions process looks like from the inside.

We’ll also give you an overview of college savings options and how you can begin to financially prepare for your student’s amazing college adventure. Register here: http://bit.ly/2zU5AgA

if you enjoyed this resource, check out our resource center here.

Choosing a Financial Advisor: What to Know Before You Invest

jmuch2025-03-26T09:18:46-05:00June 28, 2018|Categories: Resource Center|Tags: chicago, financial planning, taxes, wealth management|

Choosing a Financial Advisor: What to Know Before You Invest

Choosing a Financial Advisor: What to Know Before You Invest

Choosing a financial advisor may be one of the most important financial decisions that you’ll ever make, and the quality of this advisor’s advice could heavily influence your long-term financial success.

Choosing the right financial advisor is crucial. The advisor you select will influence key financial decisions, from investments to estate planning. It’s important to understand your needs, whether it’s retirement planning or tax strategy. Advisors often specialize in different areas, so make sure you find one with the right expertise for your goals.

Check the qualifications and experience of potential advisors. Professional certifications, such as CFP® or ChFC, can indicate a higher level of training and commitment. Use tools like FINRA’s BrokerCheck to verify credentials and review complaint history. It’s also helpful to interview multiple advisors to compare their experience, qualifications, and …

Tax-Time Planning

jmuch2018-03-13T11:19:21-05:00March 13, 2018|Categories: Resource Center|Tags: taxes|

Tax-Time Planning

While the word “taxes” may not be on the top of everyone’s list of favorites, April 15th will be here before we know it. With some forward-looking preparations, managing your taxes doesn’t have to be such a drag. Finish off your 2017 return and strategize for 2018 with our latest presentation, Tax Time Planning.