At The Joel Group, we are committed to providing our clients with timely, valuable information and interesting tidbits that may spark an investment idea or question. We invite you to explore the page below for an archive of previous tips-of-the-month and contact us to discuss how we can be of service to you. 

August Financial Tip of the Month

Here is a brief summary of some of the tax changes just passed by Congress

1. Tax brackets stay the same, adjusted for inflation. Top bracket remains 37%.

2. Standard deductions stay the same, adjusted for inflation($15,750 single/$31,500 married).

3. Cap on state tax deductions increases to $40,000. There are income restrictions.

4. Estate tax threshold increases to $15 million.

5. Tips and overtime receive a tax deduction. Income limits apply.

6. There is a $6,000 tax deduction for seniors. Income limits apply ($75,000 single/$150,000 married).

Source: https://docs.rbcwealthmanagement.com/us/68789-big-beautiful-bill.pdf

For more information, go to my website at:

https://us.rbcwealthmanagement.com/thejoelgroup

Regards,

Ben Joel - Financial Advisor, Blake Wilson - Senior Financial Associate, and Richie Shapira - Client Associate

Neither RBC Wealth Management, a division of RBC Capital Markets, LLC, nor its affiliates or employees provide legal, accounting or tax advice. All legal, accounting or tax decisions regarding your accounts and any transactions or investments entered into in relation to such accounts, should be made in consultation with your independent advisors. No information, including but not limited to written materials, provided by RBC WM or its affiliates or employees should be construed as legal, accounting or tax advice.

July Financial Tip of the Month

The key to healthier aging is being physically active, socially active, and being better educated, according to author Dr. Eric Topol.

His five strategies are:

  1. Strength training
  2. Schedule your sleep
  3. Manage stress
  4. Have an active social life
  5. Maintain a healthy diet

Source :Super agers: An evidence-Based Approach to Longevity. By Dr. Eric Topol

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