20 second advisor

Financial insights and tips...all in 20 seconds

20 Second Advisor: Should I buy GA film tax credits?

Looking for an easy way to reduce your taxes? Film tax credits are a great way to reduce your taxes every year. Here’s an example of how they work: ABC film company makes a movie in Georgia and spends $1M making the movie. The state of Georgia gives ABC credits up to 30% of what…

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20 Second Advisor: Biden vows to raise taxes on anyone making over $400,000

President Joe Biden said anyone earning more than $400,000 a year would see a tax increase under his forthcoming economic program, highlighting the administration’s plans to address inequality in part through levies on the wealthy. We don’t know many details at this point, but here are some areas where they may raise taxes: Rolling back…

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20 Second Advisor: The Unequal Recession

An important part of a balanced financial plan is generosity. Regardless of your background, religion, or net worth, sharing what we have with others is healthy. This 60 Minutes segment had a big impact on me (it’s worth the read or watching the 13 minute video). We’ve all been negatively impacted by COVID, but some…

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20 Second Advisor: Big checks for having kids!

The American Rescue Plan Act of 2021 was recently signed into law. Most pundits have focused on the $1400 per person stimulus checks. There is also a BIG increase to the child tax credit. Here’s what you need to know: The child tax credit has been increased to: $3,600 for each child under age 6…

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20 Second Advisor: Even most pros can’t beat the market

In any given year, it’s nearly impossible to predict what the market will do (case in point: 2020). Furthermore, it’s incredibly difficult for an individual to put together a portfolio that generates market-beating returns for a given year, much less consistently over time. According to new data from S&P Dow Jones Indices, 60.3% of large-cap equity fund…

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20 Second Advisor: Mortgage Recast

Some people make it a goal to pay off their mortgage early. In order to do this, you have to make extra principal payments. If you make a large principal payment, you can usually request that your lender “recast” your mortgage. This means they will recalculate your monthly payment using the same interest rate and…

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We’ve moved: New office/address!

We relocated our office this week! The new office is located inside the same building as our old office. We simply moved to a different office suite within the building (so it should be easy to find if you’ve been to our office before). Our new office address is: Please send all mail and correspondence…

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20 Second Advisor: Positive savings goals

Food for thought. Make sure that your savings goals are framed in a positive way, not negative. “I will save to buy a home” is positive “I will not spend money” is negative Focusing on the positive takes pain away from spending less money. In this case, you set your sights on the joys of…

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20 Second Advisor: Qualified Charitable Distribution

If you are over 70, you likely must take a distribution from your IRA each year. This is a taxable distribution so it increases your taxable income. Alternatively, you are allowed to divert some or all of your required IRA distribution to a qualified charity. If you do this, it’s not recognized as income and,…

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