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Tax Season Tips

By Diana Batchelor

The dreaded tax season is upon us, and it is always helpful to have some tips to survive the process on a good note. Lifetime Wealth offers the following tips we have found to help make this season tolerable.

  • Start early – go through your checkbook, credit card receipts, and email to find the necessary documentation for the charitable donations and any deductible expenses that you made in 2014.
  • Call now – if you use a tax preparer, call now to schedule a date in February or March when you expect to have all of your documents in order.

’Tis the Season

By Amy Thompson

At this time of year, from Thanksgiving through New Year’s, there are several weeks when there is often a lot of sharing and a lot of spending, and hopefully some saving too. Share Save Spend® is Nathan Dungan’s philosophy about how to combine “money and meaning.” Dungan’s vision is to change the world’s perception of money. Whether or not you agree with his particular principles, it is good to regularly evaluate how these three aspects of money—sharing, spending, and saving—fit into your life. The end of the year is good time reexamine your financial goals. The end of the year also brings some deadlines

Counting on a Change in the QCD Provision?

By Diana Batchelor

Your first question may be: What is a QCD? A Qualified Charitable Donation allows one to donate a part of his or her required minimum distribution (RMD) from their IRA directly to a qualified charity. Remember, the RMD is the amount you must distribute from your IRA at age 70½. The maximum allowable amount of a QCD is the total of your RMD or $100,000, whichever is less. If you are not required to take an RMD, then you cannot take advantage of a QCD. The QCD option is great for clients who are charitably inclined, as the QCD portion of their RMD will not be considered a taxable distribution. Previously, the QCD provision was approved by Congress annually. This past summer, the House Ways and Means Committee has passed a proposal (H.R. 416) to amend the tax code to make charitable contributions from IRAs tax-deductible, not subject to annual approval. The Permanent IRA Charitable Contribution Act of 2014 is currently on the calendar to be considered by the House for approval.  

Failure Precedes Success

By Jacob Walder, Intern at LWPM

As USA goalkeeper Tim Howard looked on after the USA's World Cup exit at the hands of Belgium, one could only imagine what was running through the aging veteran's mind. Howard had just given one of the best goalkeeping performances in a World Cup in the past half century, and he had also given the American team an amazing chance to progress past the heavily favored Belgians. But that's all it was, a chance. Unfortunately, the opportunity resulted in defeat for Team USA.

Getting a Head Start on the Importance of a Strong Work Ethic

By Sarah Moult, Intern at LWPM

As an intern with Lifetime Wealth, this experience has allowed me to recognize the importance of work prior to college. The transition from a high school to college student can be very stressful, but it doesn’t always have to be. If you prepare yourself with work opportunity and strong academics, the journey can be made more smoothly. Volleyball enabled me to attend

Our Capital Wheel Ride ...

By Diana Batchelor

National Harbor provided the ladies of Lifetime Wealth with the ride of a lifetime today on the new Capital Wheel! It felt like I was back in my childhood experiencing the Ferris Wheel ride for the first time with my best friends. We laughed, we got queasy, and we had thrills and chills. The highs were accelerating and the lows a bit scary, yet there was something magical about the experience.

Why DFA Over Stocks?

By Carolyn Walder

Buying individual stocks can be a thrill, especially if you are lucky and hit the jackpot with an Apple or a Google. However, it can also be gut-wrenching to watch the stock price shoot up and down. Furthermore, growth stocks generally do not provide a consistent means of drawing income (although high dividend stocks are less volatile and provide more income than most tech stocks). So you must be clear to yourself on why you bought a particular stock, i.e., what goal are you trying to meet by owning the stock in the first place!

Spring Clean Your Finances

By Liz Moult

Although it may not yet feel like it, spring is finally here! I came across this article, "Freshen Up Your Finances with a Thorough Spring Cleaning," by CFP Board’s Consumer Advocate, Eleanor Blayney. (You may recognize her name from financial planning articles, as she  is an expert in the field of comprehensive financial planning and LWPM colleague.) In this article, Eleanor shares ten things everyone can do to “clean up” their finances.

Do You Want ''The Answer''?

By Amy Thompson
 
The Investment Answer, by Daniel C. Goldie and Gordon S. Murray, is a short (just 96 pages!), easy-to-read and easy-to-understand book that offers guidance for investors at all levels, from beginner to experienced. This book, which is in line with Lifetime Wealth’s investment philosophy and process, condenses the essentials of the investment process into five decisions to steer you to safe and sound practices for managing your money.

My ''Knockout'' Experience at the 2014 TD Ameritrade Conference

By Liz Moult

Last week, the LWPM ladies traveled to Orlando, FL, for the annual TD Ameritrade Conference. It was my first time attending the event, and I was blown away! The discussions focused on developments in technology, updates on the U.S. and global economy, fraud prevention, practice management, etc. We had the privilege of hearing from some of the industry's most prominent thought leaders including Mitt Romney (former Massachusetts governor and presidential candidate), Simon Sinek (renowned leadership expert and author), George F. Will (Pulitzer Prize-winning journalist), to name a

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