Perspectives & News

Tax season is looming on the horizon, which can prove a period of stress for many people if they are not prepared and organized. Here are tips to consider as we approach tax season. 

Financial planning is a complex puzzle that requires careful consideration of various elements to ensure a secure and prosperous future. Among these elements, accounting for all your assets plays a pivotal role in constructing a robust financial plan. As we turn the page on 2023, let’s partner up to review the significance of the below elements together.

With the start of 2024 upon us, it’s the perfect time to review your estate plan. When it comes to estate planning, it is important to structure your assets to pass efficiently and effectively to your beneficiaries, and to be proactive in evaluating and updating the various elements of your plan.

A Roth IRA is a great place to save your money for retirement since it will have tax-free growth, no required distributions (or income taxes owed on the distributions) and can pass to the next generation to continue to grow and accumulate wealth. Roth Conversions are an alternative to contributing directly to a Roth IRA, should you prove ineligible for that route.

Donor Advised Funds (DAFs) are a powerful gifting tool that yields significant tax advantages for philanthropic individuals. This charitable vehicle provides immediate tax deductions, flexibility, and the potential for investment growth while supporting charitable causes close to one’s heart.

MCF is proud to announce it has earned a spot in Financial Advisor Magazine’s nationwide ranking of the top Registered Investment Advisor (RIA) Firms for 2023.