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2015 year end tax and financial planning letter
PDF copy of the letter Click on the above link for a pdf copy of the letter. December 1, 2015 Dear Clients and Friends, Planning ahead is always a smart idea, and that’s especially true when it comes to your taxes. As 2015 draws to a close, there’s still time to make the most of…
Read MoreTax loss harvesting energy investments
Your year end tax and investment plan should include tax loss harvesting your energy investments. If you hold energy sector investments in your taxable investment accounts chances are you have loses. Now could be a good time to do a little tax loss harvesting. If you are expecting to face capital gain taxes this year,…
Read MoreQ3 2015 Market Commentary
The markets just wrapped up their worst quarter in five years. All three major indices entered correction mode during some point in the quarter, meaning they had dropped 10% below their recent highs. For the quarter, the S&P 500, DOW, and NASDAQ all fell at least 7%. Year-to-date, the S&P 500 is down 6.7%, the…
Read MoreCFA and Schwab Alliance offer new password options
Maintaining the strongest possible security standards for your sensitive data is one of our highest priorities at Chesapeake Financial Advisors. As part of our ongoing effort to this standard our clients can now create longer, more complex passwords when accessing their account information via the Schwab Alliance website. Clients can view their data securely by logging…
Read MoreTax Savings 101: send your RMD to a charity
One of my favorite tax savings strategies we manage for clients is what is referred to as the Qualified Charitable Distribution or QCD. Only the IRS can complicate the naming of a very simple and straight forward tax savings strategy. Keep in mind, I always say every “Tax Simplification Act” only complicates the tax code…
Read MoreBear Markets Come and Go
The longest bull market in history lasted almost 11 years before coronavirus fears and the realities of a seriously disrupted U.S. economy brought it to an end. If you are losing sleep over volatility driven by a cascade of disheartening news, it may help to remember that the stock market is historically cyclical. There…
Read MoreFor the second year in a row, interest rates on federal student loans will decrease for the 2020-2021 academic year. This year’s decrease brings rates to record lows. The rates apply to new federal student loans made on or after July 1, 2020, through June 30, 2021. The interest rate is fixed for the life…
Read MoreBaltimore’s Best Financial Advisor
How to Back Up Your Financial Documents
If you’ve accidentally deleted or misplaced a financial document, you already understand the importance of backing up your important files. However, saving your financial documents to an external hard drive is only part of the battle. To truly safeguard your documents, try to keep them saved in at least three places. This could include your…
Read MoreFind That Lost 401(k)!
Do you have a long-lost retirement account left with a former employer? Maybe it’s been so long that you can’t even remember? With over 24 million “forgotten” 401(k) accounts holding roughly $1.35 trillion in assets, even the most organized professional may be surprised to learn of their unclaimed “found” money.1 What are “Forgotten” Retirement Accounts?…
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