Parkside Advisors

Independent Investment Management

The SECURE Act Just Became Law — How Will It Impact You?

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“Setting Every Community Up for Retirement Enhancement Act” The SECURE Act was signed into law on December 20, 2019.  Here is a summary of some of the major changes included in this new law that may affect Parkside Advisors clients.  We plan to incorporate these changes into our financial and tax planning discussions with clients based on their individual situations.  Should you have any more immediate questions or concerns, please don’t hesitate to contact the firm to schedule a call or meeting. Required Minimum Distributions (RMDs) from retirement accounts will start at age 72 now, rather than age 70½ IfRead More

Filed Under: Financial Planning, Retirement, Tax Planning

Making the Most of Equity Compensation, the Qualified Small Business Stock Exclusion and Economic Opportunity Zones

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This month the Parkside blog comes in the form of a podcast. In this recent episode of Founders and Friends, Scott Orn of Kruze Consulting interviews Parkside’s Audrey Grubman and Christina Kramlich on relevant financial topics for startup employees, founders, and investors.  As many of our clients know, Audrey has worked with startup employees since establishing the firm in the mid-90s. The podcast reviews various forms of equity compensation and discusses the reasons to understand the details of one’s compensation very early on and make a plan.   There are also some common pitfalls that founders and startup execs should keepRead More

Filed Under: Financial Planning, Investment Management, Tax Planning

A Terrific Way to Increase Retirement Savings

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Many employer plans now contain both a regular 401(k) plan and a Roth 401(k) option. The regular 401(k) allows an employee to defer up to $18,000 of compensation in 2017 ($24,000 for folks age 50 or older) before taxes. The benefit of regular contributions is that you reduce your taxes at the time of contribution, allow the earnings in the plan to compound over time, and defer taxes until you withdraw funds during retirement, when you will possibly be taxed at a lower rate. Contributions to a Roth 401(k) are made after-tax, i.e., contributions do not reduce your taxable income/taxesRead More

Filed Under: Financial Planning, Tax Planning

The 7 Benefits of Donor-Advised Funds

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A donor-advised fund (DAF) is like a mini-foundation that anyone can set up without the expense or a lot of paperwork. For our clients, it can be a great way to donate to charity without hassle, but it comes with other perks. First, how a donor-advised fund works: Through a custodian such as Fidelity or Schwab, you set up your DAF and deposit money or appreciated assets into it. You then direct the fund to distribute cash to any qualified non-profit organization, such as the Sierra Club or Doctors Without Borders. Why donor-advised funds are great, in my opinion: YouRead More

Filed Under: Financial Planning, Tax Planning

Questions to Ask a Potential Financial Advisor

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When you’re in the market for a financial advisor, you want to find one that’s going to be a perfect fit for the long run. Your relationship with your financial advisor is key to your financial health, success, and peace of mind. At Parkside Advisors, we are keenly aware that a good client-advisor relationship is crucial for long-term success. We invite you to interview us before you commit to our services. And even if we do not turn out to be the right fit, we are happy to provide some guidelines for choosing a financial advisor. Here are a fewRead More

Filed Under: Financial Planning, Investment Management, Tax Planning