by Springwater Wealth | Oct 23, 2024 | Financial Planning, Taxes, Wealth Management
The IRS has announced its annual inflation adjustments for the tax year 2025. These adjustments include the marginal tax rates, the standard deduction, the annual gift exclusion, and the foreign earned income exclusion. Marginal Tax Rates The 2025 tax brackets reflect...
by Springwater Wealth | Jun 17, 2024 | Divorce Financial Planning, Estate Planning, Financial Planning, Retirement Concerns, Wealth Management
What is the Survivor Penalty? The Survivor Penalty refers to the increased tax burden and potential reduction in benefits that occur when a married person becomes widowed. This life change often leads to higher taxes and reduced income for the surviving spouse. Why...
by Springwater Wealth | Apr 16, 2024 | Estate Planning, Financial Planning, Taxes, Wealth Management
If you are charitably inclined, you should consider making your gifts to your favorite charities through a Donor Advised Fund (or “DAF”). What is a Donor Advised Fund (or “DAF”)? A Donor Advised Fund (or “DAF”) is a philanthropic giving vehicle that allows donors to...
by Springwater Wealth | May 2, 2023 | Financial Planning, Retirement Concerns, Wealth Management
The idea of retirement – after decades of a stable, predictable routine for your work and personal life – can be both exciting and a bit daunting. After all, you’ll be entering a new phase of life that can be very rewarding. What sort of life do you want...
by Springwater Wealth | Nov 8, 2021 | Estate Planning, Financial Planning, Taxes, Wealth Management
Erika seems to be slowly recovering from the recent loss of her husband of 43 years to the coronavirus. While John was 74 years old, he had no underlying health conditions. In fact, he was remarkably fit and took very good care of himself. They are still not sure how...
