The Wall Street Journal looked at data reported by Morningstar for the first half of 2024 and found that only 18.2% of actively managed equity mutual funds and ETFs that compare themselves to the S&P 500 index outperformed it. That is down from 19.8% for all of 2023.
Corporate Transparency Act and 2024 Tax Law Updates
The Corporate Transparency Act applies to corporations, LLCs, family partnerships and any other entity type that was created by filing a document with the secretary of state; it will introduce landscape-changing disclosure requirements. As well, we review notable updates to tax laws in 2024.
Medicare Open Enrollment Period and Program Updates
Open Enrollment dates for Medicare are October 15 to December 7, 2023. This is the period in which already-enrolled Medicare recipients can change their existing plans to better meet health care and prescription drug plan needs. We also highlight some updates to Medicare to expect in 2024 and beyond.
Navigating the Wash Sale Rule in Equity Compensation Planning
Are you considering selling shares acquired through your employer’s equity compensation plan? You should be aware of the wash sale rule that can present unique challenges when selling shares at a loss.
The 2023 Clean Vehicle Tax Credit
Are you considering purchasing an electric or hybrid vehicle this year? In this note, we provide a summary overview of the 2023 Clean Vehicle Credit including a link to the Department of Energy website with information on eligible new and used vehicle models.
Retirement Plan Changes in the SECURE 2.0 Legislation
The SECURE 2.0 Act is now law and will impact our clients mainly through changes to retirement plan withdrawal rules, 50 and older catch-up contributions, and new ways to add to retirement assets. We highlight some of the changes in this note.
Changes to 2023 Tax Rules Linked to Inflation
One of the few positives to come from recent inflation is the Internal Revenue Services’ inflation-adjusted changes to 2023 tax rules. These changes span many areas, from income tax brackets to social security to retirement plan contribution limits.
Five Financial Planning Considerations for College Students and Young Professionals
With children leaving for college and others having graduated and beginning careers, Parkside thought it an opportune time to share some financial planning tips for young adults. Please feel free to share this with the young adults in your life.
Proactive Steps to Reduce Financial Risk During Periods of Market Volatility
Waiting out a market correction period can be tough. We recently provided our clients with some long-term portfolio data around market declines similar to the current one, and we offered several proactive steps they could take now to address their financial well-being.
Addressing Ukraine and Stock Market Volatility with a Longer-Term View
We recently addressed volatility in global stock markets with our clients. Market volatility brought on by significant events such as war is always unsettling, but not uncommon historically. Notably, the US stock market has sold off between 10% to 30% several times in just the past few years— in some cases in much greater amounts than the market’s reaction so far to war in Ukraine.
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