December 10, 2024
Chornyak & Associates: December News
'Tis the season for tax planning, and there are a few special moves that every 'HENRY' - high earner, not yet rich—should consider. Despite their high earnings, HENRYs have the "perfect storm" of factors weighing down their finances. They also typically have high expenses, particularly as they transition from DINKs—dual income, no kids—to HENRYs paying for larger homes and their kids' education. Our first article outlines strategies to help in this stage of financial planning. Let us know if you would like to discuss how we might assist you with your planning.
November 11, 2024
Chornyak & Associates: November News
As retirement draws nearer, it is important to expand your focus beyond accumulating assets, and start planning how you will generate annual income from those assets. Our first article looks at three important planning considerations for an effective retirement income strategy. Let us know if you would like to discuss how we might help you with your planning.
October 17, 2024
9 Considerations for 2024 Year-End Tax Planning
Now is a great time to focus on year-end tax planning. This article covers helpful strategies to minimize your tax burden and maximize your savings now and in 2025.
October 10, 2024
Chornyak & Associates: October News
The Federal Reserve (Fed) GDPNow model estimates third-quarter economic growth of a healthy 2.9%. The Fed began lowering short-term interest rates with a significant 0.5% cut, signaling its support for the labor market and economy with inflation now approaching its 2.0% target. Our first article below details why recent healthy economic readings have supported this rate cut and the potential impact on investors. Let us know if you would like to discuss how this might affect you.
October 01, 2024
Estate Planning for Procrastinators
While you cannot predict serious illness or accidents, for your peace of mind now and your family's financial future, be prepared in advance with proper estate planning.
September 11, 2024
Chornyak & Associates: September News
Although in recent years election campaigns have begun even before the actual election year, traditionally campaign intensity heats up after Labor Day. However, on average, September of election years 1952 through 2020 ended with losses in 9 of the 18 presidential election years, and the month of October has had the worst average loss during election years. Our first article discusses how the upcoming campaign could impact the markets. Let us know if this raises any questions regarding your investment options.
September 03, 2024
Using Life Insurance as a Retirement Planning Tool
Cash value life insurance can offer you both financial security and a tax-deferred way to accumulate additional funds for retirement that can work similarly to a Roth IRA.
August 19, 2024
Chornyak & Associates: August News
This month's "What's Happening Now" section shares stories on why Boomers who want to pass down wealth should first pass a financial stress test, 71 fascinating charts that any smart person will want to see, and recommendations from a former TSA agent regarding 8 things to never take through airport security.
July 10, 2024
Chornyak & Associates: July News
This month's "What's Happening Now" section shares stories on 12 summer destinations that are perfect for couples, how the founder of Toms Shoes went on a retreat with other entrepreneurs to combat his loneliness and depression, and the 10 most tax-friendly States for retirees.
June 06, 2024
Chornyak & Associates: June News
This month's "What's Happening Now" section shares stories on why Americans may be wrong in thinking that real estate is the best long-term investment, a Vermont resort that is rated as one of the best in the world, and 11 of the most beautiful neighborhoods in the world.
June 03, 2024
The Family Conversation on College Planning
The topic of college planning is one of the most important conversations you can have as a family. This article can help you start one.
May 06, 2024
Chornyak & Associates: May News
This month's "What's Happening Now" section shares stories on 12 summer destinations that are perfect for couples, how the founder of Toms Shoes went on a retreat with other entrepreneurs to combat his loneliness and depression, and the 10 most tax-friendly States for retirees.
April 04, 2024
Chornyak & Associates: April News
This month's "What's Happening Now" section shares stories on why spending time in nature makes you a more authentic person, the 23 best places to travel in 2024, and home price growth being back at pre-pandemic levels.
March 05, 2024
Chornyak & Associates: March News
This month's "What's Happening Now" section shares stories on whether Florida property taxes will be eliminated, new design-led historic hotels in Europe to note, and some getaways that reinvent the iconic Western Vacation.
February 05, 2024
Chornyak & Associates: February News
This month's "What's Happening Now" section shares stories on a resort in the New York Catskills that just added 3 tree houses, 27 home office ideas that deliver big on style, and In-N-Out Burger making a heartbreaking announcement after 76 years.
February 01, 2024
Tax Information & Forms
Be sure to check out our 2023 Client Tax Resources for updated mailing schedules, resources, and tax forms as you prepare for upcoming tax deadlines.
January 05, 2024
Chornyak & Associates: January News
This month's "What's Happening Now" section shares stories on a stunning cruise ship that is redefining luxury at sea, the renovation of a forgotten Philip Johnson home in upstate New York, and a lady bought a vase at Goodwill for $3.99, and sold it for $107,100 at auction.
