Resources by Topic

Tax Planning

Blog

Child’s UTMA is Ending – What Protection Exists?

Uniform Transfers to Minors Act, or UTMA, accounts are a popular way to hold investments and bank accounts for minors.  Such accounts are owned by the minor but controlled by a designated adult custodian.  The minor becomes the outright owner of the account assets when he or she reaches the age of majority specified in […]

Read More

View All Blog Posts
Blog

Top 2 Tax Changes That May Affect Your Retirement

There are likely substantial retirement account changes on the horizon which will alter planning for all current and future retirees.  Recently, the House passed the Setting Every Community Up for Retirement Enhancement or SECURE Act. The SECURE Act is expected to pass the Senate in the coming months. The two most wide-reaching changes in the […]

Read More

View All Blog Posts
Blog

Governor Pritzker’s Tax Proposal – What You Need to Know

In March of this year, information was released regarding Illinois Governor JB Pritzker’s proposed tax plan, otherwise known as the “Fair Tax for Illinois.”  There are a number of items in this proposal which, should this become law, could impact both individual and corporate taxpayers in the state of Illinois.  Here are a few of […]

Read More

View All Blog Posts
Blog

Spring Cleaning – Freeing Yourself of Clutter After a Divorce

The combination of all the documentation that is needed during divorce negotiations and the never-ending stack of documents needed by your tax preparer often create an important pile of clutter.  The good news is that you don’t need to hold onto it forever. Learn more about what should be done post-divorce in this podcast featuring BDF’s […]

Read More

View All Blog Posts
Blog

Smoothing Out Lumpy Cash Flow

Receiving most of your compensation in a few large paychecks is exciting to finally see in your bank account. But it causes a lot of headache when juggling cash flow for the year ahead. Financial professionals (private equity professionals, investment bankers, and asset managers) struggle with this problem given the industry’s compensation models. Investment bankers, […]

Read More

View All Blog Posts
News

InvestmentNews awards BDF 2019 Best Places to Work for Financial Advisers

Balasa Dinverno Foltz LLC has been recognized as a 2019 Best Places to Work for Financial Advisers as announced by InvestmentNews April 1, 2019. BDF was chosen as one of this year’s top-75 based on employer and employee surveys delving into everything from company culture, benefits, career paths and more. InvestmentNews partnered with Best Companies Group, an independent research […]

Read More

View All News Posts
Blog

5 Important Things to Know for Your 2018 Taxes

With tax time finally here, you’re probably starting to load everything into your tax preparation software or send documents to your CPA.  Below are a few items that may be tougher to keep track of during the year but are certainly important pieces of information to pass along to your tax preparer. 529 Contributions/Distributions – […]

Read More

View All Blog Posts
Blog

New Year, New Tax Law for Divorcing Individuals

As we get settled into 2019, we’re faced with fresh changes to the tax code, brought about by the Tax Cuts and Jobs Act (TCJA) of 2017. One of the biggest changes that became effective as of January 1 is how alimony is treated in divorces finalized in 2019 and beyond. Before January 1, 2019, […]

Read More

View All Blog Posts
Blog Estate Tax - Will You Have To Pay?

State Estate Taxes – Will You Have to Pay?

The Tax Cuts and Jobs Act of 2017 made the federal estate tax less relevant from a planning perspective, since it raised each person’s exemption from the tax to over $11 million.  So, estate taxes are nothing to worry about, right?  Not so fast, since thirteen states levy their version of the tax.  That is […]

Read More

View All Blog Posts
Wealth Watch

2018 – A Year of Tax in the Face of Volatility

It is the most wonderful time of year! At least that’s how it’s supposed to be.  But with stock market woes piling up in December, that statement definitely doesn’t apply to finances.  To make market matters worse, an inefficient tax portfolio could be kicking you while you’re down, especially in 2018. In the closing weeks […]

Read More

View All Wealth Watch Posts
Blog

Finalize Your Divorce Before the Final Day of 2018

With the New Year comes many things: fresh starts, new beginnings, and resolutions to improve and better ourselves. Above all, this New Year’s Day brings changes to the tax code that could greatly impact families going through a divorce. So, what changes are coming, and how can you best prepare and position yourself financially? Alimony […]

Read More

View All Blog Posts
Blog

The Gift that Keeps Giving – Year-End Charitable Gifting

Hard working, well compensated, and generous are words we use to describe our insurance producer clients.  These characteristics all lead to year-end tax planning opportunities around charitable giving. We recently completed year-end tax planning for an insurance producer (we will call him Mike) who works for a publicly traded agency. Mike and his wife Mary […]

Read More

View All Blog Posts