Year-End Tax Planning Tips for 2024: What to Consider Before December 31st

As the year draws to a close, it’s an opportune time to assess your tax situation and identify strategies that could reduce your tax burden. The Krilogy Tax team has compiled a list of key planning strategies for clients to consider as 2024 winds down. Roth IRA Conversions Pre-tax retirement accounts can be a ticking time bomb, as their future…

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Exploring 529 to Roth IRA Rollovers Key Considerations and Benefits

Saving for education expenses is a priority for many families, and 529 plans can be valuable tools in achieving this goal. A 529 plan is a tax-advantaged savings plan designed to encourage saving for future education costs; primarily intended for higher education expenses, these plans can also be used for K-12 tuition costs in most states. The funds in a…

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Quarterly Market Newsletter | October 2024

Q3 2024 Review Equity Market The market had a rough patch at the beginning of the quarter which saw the S&P 500 fall nearly 10% but rallied to end the quarter positive. The S&P 500 ended the quarter up 5.9%. Market breadth improved and investors saw greater participation outside of mega-cap Tech. The NASDAQ finished the quarter up only 2.8%…

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Weekly Market Recap | September 23, 2024

Week in Review Equity Markets: The markets rallied last week following the rate cut from the Federal Reserve. The S&P 500 hit a new all-time high on Thursday reaching 5,733. The S&P 500 finished the week up 1.39%. The Dow Jones broke 42,000 for the first time on Wednesday and finished up 1.67%. The NASDAQ still sits 4% below its…

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Weekly Market Recap | September 9, 2024

Week in Review Equity Markets: The markets experienced their deepest weekly declines in more than a year last week. The S&P 500 finished the week down 4.22% as concerns rose regarding an economic slowdown. Large-cap value fared better than their growth peers as investors sold technology heavily. The Russell 1000 Value Index still ended the week down 3.06% but far…

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Weekly Market Recap | August 26, 2024

Week in Review Equity Markets: The markets continued their recovery last week. The S&P 500 finished the week up 1.47% as market breadth increased. Small-caps were the top performers last week with the Russell 2000 ending the week up 3.62%1. The prospects of lower borrowing costs helped propel more economically sensitive stocks higher. The spread between growth and value was…

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Weekly Market Recap | August 20, 2024

Week in Review Equity Markets: The S&P 500 recovered from the prior week’s decline and notched its best performance of the year, ending the week up 3.99%1. The rebound was supported by continued positive reports on inflation, retail sales, and consumer sentiment. Improving sentiment propelled the Russell 1000 Growth to a weekly performance of 5.27% relative to its value peer’s…

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Weekly Market Recap | August 5, 2024

Week in Review Equity Markets: The S&P 500 continued its skid notching the third negative week in a row. The S&P ended the week down 2.05% and is now 5.7% below its all-time high of 5,669 set on July 16. The NASDAQ finished last week in correction territory, down 10.1% from its most recent high on July 10. The recent…

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Weekly Market Recap | July 29, 2024

Week in Review Equity Markets: The rotation in the markets continued last week. The S&P 500 finished the week down 0.82% and the NASDAQ finished down 2.08%, marking both indexes’ second consecutive negative week. The Dow Jones 30 finished up 0.77% and, again, small-caps shined finishing the week up 3.47%1. The recent rally from small caps has brought the Russell…

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Avoid the “Step-Down in Basis” Pitfall | Krilogy Tax Services

A commonly known provision of the tax code is the step-up in basis rule; many taxpayers encounter this when inheriting appreciated assets. A lesser-known and tricky related provision is the step-down rule, which can be a potential hazard causing losses to remain unrealized. This, in turn, leads to possible tax savings disappearing into thin air. As background, the IRS allows…

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