Years ago, many taxpayers itemized deductions instead of claiming the standard deduction. But fewer taxpayers are itemizing today due to a bevy of changes in the Tax Cuts and Jobs Act (TCJA). The TJCA provisions that increased the standard deduction and limited or suspended certain itemized deductions are currently scheduled to expire after 2025. However,…

If you’ve received, or will soon receive, a significant inheritance, it may be tempting to view it as “found money” that can be spent freely. But unless your current financial plan ensures that you’ll comfortably reach all your goals, it’s a good idea to have a plan for managing your newfound wealth. A Time for Reflection…

Many stocks — such as Walmart, Dell and Google —trade on the New York Stock Exchange or another public stock exchange. Shares in public companies can be converted to cash within a few days. But privately-held business investors don’t have the same luxury. Their investments can take months or even years to sell. Discounts for lack of…