Blog | Hourly Independent Fee Only Financial Planning - Akron, Ohio - Chicago, Illinois - Kinkelaar & Associates - Certified Financial Planner™ professional, Mary Deshong Kinkelaar,CFP®

Estate Planning in 2011

Posted on March 1, 2011 by Mary Deshong-Kinkelaar, CFP® ~ 0 Comments

In late 2010, Congress reunified the estate tax, gift tax and generation-skipping tax (GST), giving them all top rates of 35% with $5 million lifetime individual exemptions.1 In addition, the estate and gift tax exemptions are now portable between married couples. Upon the death of one spouse, the executor of the estate can elect to transfer any unused portion of…

Major Housing Market Reform: The Future of Fannie Mae and Freddie Mac

Posted on February 14, 2011 by Mary Deshong-Kinkelaar, CFP® ~ 0 Comments

For two-and-a-half years, economists and housing industry analysts have wondered what would happen with Fannie Mae and Freddie Mac. On February 11, they received some answers: the Obama administration announced plans to shut down both of the troubled mortgage giants by 2018 or sooner.1 As he met with the press, Treasury Secretary Timothy Geithner cited the “very broad consensus” that…

January 2011 in Review

Posted on February 5, 2011 by Mary Deshong-Kinkelaar, CFP® ~ 0 Comments

Turmoil in the Middle East didn’t stop U.S. stocks from posting a sizable January advance. The S&P 500 rose 2.26% on the month and the Dow and NASDAQ posted strong gains as well. We received encouraging news about home sales, retail sales, manufacturing and service sector growth and personal spending. There was a real sense that things were improving for…

What’s the difference between the American Opportunity Credit and the Lifetime Learning Credit?

Posted on January 18, 2011 by Mary Deshong-Kinkelaar, CFP® ~ 0 Comments

The following is a reprint from the IRS Tax Tip Newsletter that was sent out today. You might find it useful if you are trying to understand the different tax credits that are available for higher education expenses – the American Opportunity Credit and the Lifetime Learning Credit.

The New Tax Act and What It Means for You

Posted on December 17, 2010 by Mary Deshong-Kinkelaar, CFP® ~ 0 Comments

The bill to extend the Bush tax cuts was passed by Congress and should be signed by President Obama later today. The Tax Relief Unemployment Insurance Reauthorization and Job Creation Act of 2010 extends many previous provisions and also adds some new items. I have addressed these issues on my Life Worth Planning blog. You can read the summary at…

What’s On The Tax Horizon for 2011?

Posted on September 13, 2010 by Mary Deshong-Kinkelaar, CFP® ~ 0 Comments

Numerous tax provisions enacted in 2001 and 2003– often referred to as the “Bush tax cuts”– are set to expire at the end of 2010. There has been talk in D.C. to extend some of these expiring tax provisions with new legislation, but election-year politics make it difficult to predict what action, if any, Congress will take. As it stands…