by Concentrum Wealth | Nov 14, 2022 | Uncategorized
While inflation hurts our pocketbooks day in and day out, there is one silver lining if you know where to look. The IRS recently published cost-of-living adjustments for retirement plan contribution limits for 2023, and the overall IRS 415 limits increased by $6000....
by Concentrum Wealth | Sep 6, 2022 | Uncategorized
There are five estate planning documents you may need, regardless of your age, health, or wealth: Durable power of attorney Advance medical directives Will Letter of instruction Living trust The last document, a living trust, isn’t always necessary, but...
by Concentrum Wealth | Jul 18, 2022 | Uncategorized
Deciding between renting or buying a home can be a tough decision. Here are some pros and cons to help you decide. Pros As a homeowner, you build up equity in the house with every monthly mortgage payment. As the owner, you get to recognize any gain on the entire...
by Concentrum Wealth | Jun 2, 2022 | Uncategorized
Whenever you change jobs, you have several options to consider with your 401(k). You can leave it where it is, transfer it into your new employer’s 401(k) plan (if one exists), or roll it over into an individual retirement account (IRA). For most people, rolling...
by Concentrum Wealth | Dec 15, 2021 | Uncategorized
Family tax planning Determine whether you can shift income to family members who are in lower tax brackets in order to minimize overall taxes. Consider making gifts of up to $15,000 per person federal gift tax free under the annual gift tax exclusion. Use assets that...
by Concentrum Wealth | Aug 30, 2021 | Uncategorized
We have all begun to feel the impact of inflation on our wallets. Politicians and economists are now arguing over the causes of inflation and the impact on consumers and the economy. According to the Bureau of Labor Statistics, prices for consumer goods rose 0.9%...
