Connections, December 2018

Mesirow Wealth Advisors understands the challenges and pressures that individuals face when trying to manage their personal wealth, throughout the many stages and events of a lifetime. Our wealth advisors and wealth specialists have written these timely, relevant insights with you in mind. We hope you enjoy this edition.

Market Volatility Can Create Tax-Smart Opportunities

Although periods of market volatility can often create investor anxiety, the gains and losses incurred during up and down markets can be leveraged to work together to minimize the taxes investors pay on capital gains. Through a practice called “tax loss harvesting,” a savvy investor and wealth advisory team can strategically reduce federal tax liabilities without impacting long-term investment plans. Read more.

Year End Financial Planning Review

Before you know it, the new year will be upon us. It is always important at this time of year to review your financial plan to see if there are opportunities to make any beneficial “tweaks” prior to tax time. Depending on your unique situation, you and your wealth advisor may agree that some of the ideas listed below make sense for you and your family. Read more. 

Planning for Dependents with Special Needs

As our clients' families grow and assets accumulate, it is imperative that we address planning for the future to provide for both the needs of the parents and their children. When families have dependents who may be considered to have special needs, planning for a secure financial future for this dependent can become extremely complex and often daunting. Read more. 

Are you committed to charitable causes, but worried that you might lose your deduction?

We have received so many questions about this topic, we thought we would share this article again with our readers. 

Historically, many of our clients have claimed an “itemized deduction” on their federal tax return for charitable gifts, resulting in a lower tax bill. However, recent legislation may impact the tax benefits of charitable gifts for 2018 and beyond. This article outlines how you can integrate charitable giving into your financial plan and still enjoy some of the tax benefits long associated with charitable giving. Read more. 

Yours, Mine and Ours

Preparing for retirement is a marathon – not a sprint – and requires discipline over a long period of time. Much like exercising or changing one’s diet, results are often best when a person has a partner to be accountable to as well as share success. That said, many couples fail to plan effectively together. Read more.