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What Happens If I Live a Long Life and Need Long Term Care?

People consider the financial and emotional cost of long-term care only after a close friend or family member is impacted by chronic illness. The good news is we are living longer lives. The bad news is statistics show many of us will require long-term care—despite our human nature to believe otherwise. AAFCPAs Wealth Management encourages […]

Accounting Considerations for Nonprofits with Donor Advised Funds (DAF)

It has been reported recently that charitable giving had its largest decline since the 2008-2009 financial crisis, citing circumstances such as 2018 tax law changes as one reason for the decline. In a blog published in August 2019, AAFCPAs Wealth Management outlined charitable giving strategies donors should consider in order to maintain charitable goals while […]

Upstream Trusts May Be Solution to Eliminate Capital Gains

In light of recent increases in limits for federal estate tax exemptions under the Tax Cuts and Job Acts (TCJA), AAFCPAs advises clients to consider the suitability of an Upstream Trust as a strategy for taxpayers who have highly appreciated assets to save money on capital gains tax. Upstream Trusts are a new option that […]

Social Security Benefits to Increase by 1.6% in 2020

AAFCPAs Wealth Management would like to make clients aware that the Social Security Administration announced today that Social Security and Supplemental Security Income (SSI) benefits for nearly 69 million Americans will increase 1.6 percent in 2020. Cost-of-living adjustments (COLA) have averaged 1.4 percent in the past decade. The 1.6 percent adjustment will begin in January […]

Tax Incentives Abound for Charitable Remainder Annuity Trusts

A Charitable Remainder Annuity Trust (CRAT) is a type of charitable tax planning strategy in which a donor contributes assets to a charitable trust which subsequently pays a fixed income to a designated beneficiary, in the form of an annuity. A CRAT lasts until the donor passes away, at which time any funds remaining in […]

Dow Plunges 800 Points, Fundamentals of US Economy Still Strong

As you may be aware, the Dow Jones Industrial Average plunged 800 points yesterday, August 14th, marking the worst single day point drop of 2019. The media attributed the plunge to a slowing global economy, a trade war with China, and an inverted yield curve. The 10-year treasury rate for a time on August 14th […]

Don’t Let the New Tax Act Affect Your Giving Goals

The Wall Street Journal recently reported that charitable giving had its largest decline since the 2008-2009 financial crisis, citing circumstances such as 2018 tax-law changes and a late-year stock-market dip as the reasons for the decline. At AAFCPAs Wealth Management, we know that taxes are not the reason you give; however, they may affect how […]

Personal Financial Health Check

Listen to Podcasts:   As the flight attendants often say, “It’s critical that you put your oxygen mask on first, before helping others…” This is an important metaphor for all who lead the charge to realize impact on your missions—while maybe sacrificing the time it takes to achieve personal financial health! This fast-paced session led […]