Tag: Planning

Financial Planning Considerations Under Joe Biden’s Proposed Tax Plan

With the U.S. presidential election only a few weeks away, it’s timely to evaluate the details of Joe Biden’s tax plan, the potential implications and some strategies that might be worth considering.

Before we begin, it’s worth noting that even if Biden is elected, his tax plan becoming a reality would likely hinge on Democrats also gaining control of the Senate this November. And, even if that occurs, it could prove difficult to increase taxes if the 2021 economy is still fragile due to COVID-19. With that said, it is prudent to understand what the tax implications might be so we can evaluate which planning strategies could be beneficial in advance.

Income Tax Impacts

If you earn more than $400,000 per year, Biden’s income tax plan would negatively impact you in several ways:

  • Under Biden’s plan, the top tax bracket, which is currently $622,051 for married couples filing jointly

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Ambow Education Announces Inaugural Certification of 100 Strategic Career Planning Consultants

BEIJING, Oct. 14, 2020 /PRNewswire/ — Ambow Education Holding Ltd. (“Ambow”, “Ambow Education” or the “Company”) (NYSE American: AMBO), a leading national provider of educational and career enhancement services in China, today announced that the first 100 trainees have successfully completed the Global Career Quality Assurance program in strategic career planning and received certification since such program was kicked off in late June 2020 on Ambow Huanyujun Education Hub. 

In light of the evolving macro environment now unfolding in the post-pandemic period in China, both individuals and enterprises are facing new uncertainties and challenges finding, identifying and securing suitable employment matches. For individuals this means reassessing personal career management strategies and new potential pathways; for enterprises this accelerates the need to adopt new talent management strategies reflecting new market conditions.

Earlier in 2020, Ambow Education teamed up with Dr. Tom Clawson, Founder and President of Global

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Retirement Planning for Small Business Owners

NEW YORK, Oct. 13, 2020 /PRNewswire/ — Well-planned financial goals, whether they’re for the next week or 5 years from now, are integral to a person’s financial growth. These goals are what drive us to make savings plans, budget, and investment strategies in order to reach them. Without a proper plan in place, achieving these goals is nearly impossible. This is especially true when it comes to retirement planning. Zoe Financial understands that a comfortable retirement is one of the top financial goals a person will have in their lifetime.

Everyone’s retirement plan will differ depending on their financial situation, age, and goals. For instance, retirement planning for small business owners will be much different than employees of big corporations. Since business owners won’t have as much access to traditional retirement accounts, they should familiarize themselves with the different options available. It’s essential to choose the retirement account that’s

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Wealth Managers Champion Inclusivity And Collaboration In Financial Planning

JR Gondeck and Vanessa Martinez Release “Family Value at Risk” with ForbesBooks

This release is posted on behalf of ForbesBooks (operated by Advantage Media Group under license.)

NEW YORK (October 13, 2020) — JR Gondeck and Vanessa Martinez, partners and managing directors at The Lerner Group, today announced the publication of Family Value at Risk: Inclusive Communication to Pass on Your Family’s Wealth and Legacy. The book is published with ForbesBooks, the exclusive business book publishing imprint of Forbes.

With Family Value at Risk, co-authors JR Gondeck and Vanessa Martinez describe wealth beyond monetary value. It takes a comprehensive view of wealth, including family and legacy, as well as the wider community. This holistic approach to wealth management prioritizes a family’s overall wealth—derived from multiple aspects of life—because, according to Gondeck and Martinez, focusing only on money puts the entire family’s value at great risk.

The Family Value at

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Hotel Proposal To Come Before Manhattan Beach Planning Commission

MANHATTAN BEACH, CA — A public hearing on a proposed new 162-room hotel with full alcohol service and a separate retail and office building at 600 South Sepulveda Boulevard will be held this Wednesday, Oct. 14 when the Manhattan Beach Planning Commission meets at 3 p.m.

The site is a 65,419 square-foot lot with street frontage along Sepulveda Boulevard, Tennyson Street and Chabela Drive. An El Torito restaurant with full alcohol service occupied the existing 8,500 square-foot restaurant building on the site until vacating the space late in 2018. Skechers has been occupying the site since 2019, using the restaurant building as a corporate cafeteria and meeting space while using the parking lot for overflow parking for Skechers employees impacted by Skechers construction of new office buildings along Sepulveda Boulevard. The existing restaurant building would be demolished.

City staff is recommending that the Planning Commission approve the master use permit

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Tax Law Changes Allow For Year-End Charitable Planning Opportunities

As we enter the final months of this unusual year, many people will be considering year-end charitable giving. Charitable gift planners and development officers know this giving season all too well. It goes without saying that 2020 has been a challenging year, and the fourth quarter seems to have snuck up quickly. Given the host of charitable tax law changes over the last 36 months, a refresher might be useful.

The 2017 Tax Cuts and Jobs Act: First, it is worth remembering that the 2017 Tax Cuts and Jobs Act increased the deductibility of cash contributions. Prior to the TCJA, cash gifts were deductible only to the extent of 50% of the donor’s adjusted gross income. TCJA increased that to 60%.

This 60% contribution obviously makes cash gifts more appealing for individual donors. However, it also can act to reduce the unrelated business income tax

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XY Planning Network Takes Fiduciary Fight To States And Hires Advocacy Consultant Duane Thompson

BOZEMAN, Mont., Oct. 12, 2020 /PRNewswire/ — XY Planning Network (XYPN), a membership organization comprised of more than 1,300 independent fee-for-service financial advisors, today announced that it will not appeal its unfavorable 2nd Circuit ruling on Regulation Best Interest, but it has engaged Duane Thompson, president and founder of Potomac Strategies LLC, an experienced industry lobbyist and fiduciary advocate, to continue its fiduciary fight at the state level. Thompson will assist XYPN in its state advocacy efforts for a fiduciary standard for all financial advice, and that the fee-for-service business model XYPN pioneered be regulated in a manner consistent with other (e.g., assets under management) fee models.

In September 2019, XY Planning Network (XYPN) co-founders Alan Moore and Michael Kitces made waves when they announced their decision to file a lawsuit against the SEC challenging the Regulation Best Interest (Reg BI) rule during the opening of their

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Planning to buy a House? Here’s how to get your finances back on track

The COVID-19 pandemic has hit many people hard financially. From furloughs to job loss and from strict budgets to depleted savings and much more, people are making adjustments as needed. It’s important to stay focused on your financial well-being and take simple steps so you can recover and thrive in the future.

a close up of a card: Stay focused on your financial well-being and take simple steps so you can recover and thrive in the future.

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Stay focused on your financial well-being and take simple steps so you can recover and thrive in the future.

“Many people who have experienced financial disruption need some help to get their savings back on track,” says Andy Harmening, Consumer and Business Banking director at Huntington. “Even in a strong economy, managing everyday finances can be stressful. Fortunately, with a little diligence and some digital tools that make it easier to save, people can find the financial peace of mind they’re looking for.”


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Harmening says it is possible to improve your finances

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After Planning Retirement Around Travel, 3 Women on Being Grounded

For many Americans, retirement is the reward after decades of work—it’s a time for unwinding, personal projects, and, if you can, seeing the world. Often it’s the relatively few vacation days we get that make retirement the first opportunity for certain trips: a month spent in Greece, for example, or that multi-stop heritage trip. And for women, who still do the bulk of housework and childcare (often spending double the time men do on chores daily) finding the time to both travel and spend money on yourself is even rarer.

But what happens when, after years of planning, you finally retire and book those dream trips—only to have a pandemic hit, rendering travel impossible? We spoke to three women who have gone through just that. They tell us about staying home, where in the world they’d rather be right now, and how they’re finding hope in a retirement that looks

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Start planning your year-end giving now

In 2019, U.S. giving to charity totaled nearly $450 billion. Historically, nearly one-third of that amount takes place in December, with 12% of all giving occurring in the last three days of the year.

December and last-minute giving is often rushed, not well-planned, nor strategic. To maximize the impact of your giving, whether personal or in your business, start planning your approach to year-end donations now.  There are a number of steps you can take to ensure your donations have a lasting and significant impact.

Bruce DeBoskey.
Bruce DeBoskey
  1. Engage your family members in conversations about what issues and causes are most important to them. Especially in this year of a pandemic, climate change impact, voting rights challenges, racial justice efforts, income and health disparities, and economic uncertainty (for nonprofits, too), meaningful conversations between and among generations about how a family wants to make the greatest impact are essential.
  2. Giving through your
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