Legacy is more than what you leave behind — it is the foundation you build today to empower the generations that follow. Planning for the next generation requires a big picture approach that adopts traditional tools - like trust and tax services - with newer modern innovations - like financial planning and artificial intelligence (AI).
Read MoreThe Federal Reserve held interest rates at the 4.25-4.5% mark for the third meeting in a row, much to the Administration’s dismay. FED chair Jerome Powell is taking a wait-and-see approach with the impact on the newly introduced tariffs.
Read MoreTurbulence is an apt term to describe this year’s political and economic climate thus far. With mounting pressure in the Russia-Ukraine war, the ‘Liberation Day’ trade war, and overall inflation issues, Americans have a lot (and a little) on their plates.
Read MoreOnto the omnipresent topic of the year so far. No, not the daily political headlines, I’m talking about AI. Given that AI needs data to function, you may assume that simply providing that data to the program can produce a reliable plan for any situation. Think again…
Read MoreFrom the sunsetting provisions of the Tax Cuts and Jobs Act (TCJA) to the implementation of SECURE Act 2.0 and new IRS regulations; some notable policy changes will occur at the end of 2025, affecting individuals and businesses alike. Here’s what may impact your finances in the coming years.
Read MoreYogi Berra was spot on when he said, “It's tough to make predictions, especially about the future.” This quote from Yogi applies each year to capital market participants who love to predict what the economy will do and how much stocks are going to change that year. When assessing the predictions at year end, we find all, or almost all predictions, are proven inaccurate.
Read MoreAt Allen Trust Company, our role is to guide you through the opportunities and challenges that lie ahead, ensuring your wealth aligns with your personal goals and legacy plans. The outlook for 2025 reflects a world in transition, with economic shifts, evolving family needs, and a growing emphasis on sustainability and security. Let me share how these trends could shape our approach to protecting and growing your wealth while preserving what matters most to you.
Read MoreYou’re not alone, we can’t believe it’s November and the Holiday season is officially upon us! To assist you in utilizing the remainder of 2024 we’re providing a ‘nice’ list to review your financial situation and prepare for a strong start to the new year.
Read MoreEvery quarter is full of news about the labor markets, inflation, consumer and business spending, corporate earnings accompanied by unanticipated events. Each of these could potentially move the markets. Yet in some quarters, the news and events have negligible effect, and the quarters feel boring. The third quarter of 2024 was not a boring quarter, and more things happened in those three months than what has occurred in some years.
Read MoreIn today's interconnected world, cybersecurity has become necessary to combat potential cyber-attacks on individuals, large corporations, and everyone in between. With more personal, financial, and professional data being stored online – from banking and shopping to managing confidential information – the risk of cyber threats continues to grow.
Read MoreAs we move towards the last quarter of 2024, the efficiency and flexibility of cash gifts may also appeal to you as you contemplate year-end giving. Here are some thoughts on the current available options. In 2024, individuals can give up to $18,000 per individual gift recipient without creating any gift tax liability. If you’re married, that means each spouse can give up to $18,000 per recipient.
Read MoreAs we enjoy the remainder of summer and get the kids ready to head back to school, I would like to use this time of year as a reminder to think about education planning for kids and grandkids.
Read MoreAllen Trust Company, a trust-only state-chartered bank, announces a significant and exciting change from an individually owned firm to an employee-owned structure.
Read MoreLike the changing of the years and seasons, the changing of quarters also brings a sense of optimism, and since the first quarter did not deliver all I was expecting, I could not wait to see what the second quarter would deliver.
Read MoreYou know the adage “hindsight is 20/20”, and if you are in your twenties or thirties, your vision may still be 20/20. Although no one is certain of the future economy, inflation, or tax landscape…
Read MoreLosing a spouse is an emotionally challenging experience, and amidst the grief, there are practical matters that need attention. Navigating the legal and financial complexities can seem dauting, but proactively reviewing one’s estate plan becomes even more crucial to protect the interests of the surviving spouse and beneficiaries.
Read MoreThe promise of warmer weather shines a more optimistic light on the released reports. This has, thus far, proven true moving from February to March to April and expectations for the rest of the year are likewise more optimistic. Here we will review the first quarter of 2024 and finish by offering our outlook for the rest of 2024.
Read MoreYour personal return is due by Monday April 15, 2024. You can request for an extension to push the filing deadline back to October 15, 2024, by filing Form 4868. You can do this by certified mail or through your tax preparer. Just remember, you still must pay the tax due by the original April 15th deadline. Unfortunately, an extension to file isn’t an extension to pay.
Read MoreAs tax laws continue to become more complicated, the demand for CPAs continues to rise. At the same time, this industry has seen a significant percentage of its workforce leave in the last five years.
Read MoreRecently we wrote comparing investing with climate and weather in the Pacific Northwest, how unpredictable the weather is, and how far more predictable the climate is. The same holds true for short-term and long-term investing.
Read More
