How do the House and Senate tax reform proposals compare?

by Springwater Wealth | Nov 14, 2017 | Financial Planning, Financial Planning, Services, Taxes, Wealth Management

Last week we provided an overview of the House tax reform proposal. Later in the week the Senate released its version of the legislation. Below we add comments to our blog post last week and indicate the Senate’s proposal. We have highlighted the Senate version when...

Does a Reverse Mortgage Still Make Sense?

by Springwater Wealth | Oct 31, 2017 | Financial Planning, Financial Planning, Services, Wealth Management

A reverse mortgage is a loan against a home’s equity that requires no monthly payments, and is available to homeowners 62 and older. The loan proceeds can be taken as a lump sum, as monthly income for life, or as a line of credit. Interest on the borrowed money is...

What’s in the administration’s tax reform proposal?

by Springwater Wealth | Oct 2, 2017 | Financial Planning, Financial Planning, Wealth Management

Last week, the Trump administration outlined its proposals for tax reform. Entitled the “Unified Framework for Fixing Our Broken Tax Code”, the proposals, if enacted, would result in the most significant changes to the tax code in 30 years. Reduction in the number of...

Is a Health Savings Account right for me?

by Springwater Wealth | Sep 26, 2017 | Financial Planning, Financial Planning, Services

A health savings account (HSA) is a tax-advantaged medical savings account available to taxpayers in the United States who are enrolled in a high deductible health plan (HDHP). You can read about high deductible health plans on this government website. HSAs can be an...

Can I use my IRA to donate to a charity?

by Springwater Wealth | Sep 19, 2017 | Estate Planning, Financial Planning, Financial Planning, Services, Taxes, Wealth Management

At Springwater, we have clients who are over the age of 70, who have individual retirement accounts (IRAs) and who do not need additional income. However, the government requires those over 70 (technically 70 1/2) to take distributions from their IRAs regardless of...

The Equifax Data Breach – What Should I Do?

by Springwater Wealth | Sep 14, 2017 | Financial Planning, Financial Planning, Services, Wealth Management

The Equifax Data Breach If you have a credit report, it’s likely that you’re one of the over 140 million Americans whose sensitive personal information was accessed through a data breach at Equifax, one of the nation’s three major credit reporting agencies. The other...