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On The Horizon Blog

The financial planning and investment landscape changes at a dizzying speed – and often with conflicting messages. Read our team of experts’ advice on saving, spending, investing, retirement, taxes, giving and more to help you enjoy a full life.

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Good Bye 2020, Hello Taxes

Good news: The Year 2020 is coming to an end. Historians will look back at 2020 as an epic year for chaos in the United States. We will not miss the Covid-19 Pandemic, the social unrest across the country, or the contentious presidential election.  Bad News: now that the election is over, and we have […]

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Potential Changes to the Illinois Tax System From JB Pritzker’s Fair Tax for Illinois Proposal

In March of 2019, information was released regarding Illinois Governor JB Pritzker’s proposed tax plan, otherwise known as the Fair Tax for Illinois. Here are a few of the key items included in the proposal that would impact both individual and corporate taxpayers in the state of Illinois: Individual Changes Tax System Structure:  The current […]

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Don’t Rock Climb Without a Rope

You wouldn’t go rock climbing without a rope – would you? Sure, it may not be quite as exhilarating, but if there is a tool to help you from falling to your death, it would make sense to invest in it. The rope helps to manage risk just like various types of insurance in your […]

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Retirement Benefits for Lawyers

I have the privilege of working with many law firm partners as clients.  In my experience, law firms often have some of the best benefits for their partners and associates.  I have also found that many times lawyers don’t take the time to fully comprehend all of their firm-provided benefits and how those benefits impact […]

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Estate Tax Exemption – Use it Now!

Federal tax law levies a tax on the value of assets you own at death.  The estate tax is levied at a 40% rate and can severely impact the transfer of wealth to future generations.  Many business owners are simply unaware that the value of their business exposes them to the tax and that may […]

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Top 4 Biden Tax Changes That May Affect You

Presidential Democratic nominee, Joe Biden, recently released more information on his proposed tax agenda. While there are a number of tax changes that Joe Biden has mentioned, we will focus on four potential changes that would impact individual taxpayers. Of course, these changes are contingent on Vice President Biden winning the election and also being […]

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3 Questions to Help A Friend or Loved One Decide Whether to Stay or Divorce

I’m hungry. What do I have a taste for? Should I cook or order in? Where should I order from? And the list goes on. If you’re like me, these are questions that run through your mind before every meal. And while they all sound simple enough to answer, just ask my friends and family […]

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Working Wealthy – The Estate Planning Cliché

Those that know me well know I love a good cliché. In fact, I usually wear them out to the point that I can feel my wife’s eyes roll when I’ve used a phrase one too many times. And so, I’m evolving. I realize that while clichés are an easy way to explain an idea, […]

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5 Steps to Fraud Prevention in an Increasingly Virtual World

Over the last 6 months, working from home, online shopping, and the necessity of virtual communication has expanded rapidly in the COVID environment. With that expansion has come an increased opportunity for cybercriminals to take advantage of a virtual world. The FBI cyber division has received between 3,000 and 4,000 cybersecurity complaints each day – […]

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Stock Options and Restricted Stock – What You Need to Know About Taxes

Executive compensation plans, including stock-based compensation, are a great way for companies to attract and retain top talent. Understanding the tax implications, however, can be a daunting task. Many variables come into play, including plan type, qualified or non-qualified status, holding periods, etc. and for busy professionals, just finding time to focus on this can […]

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How Did Financial Professionals Navigate the Pandemic?

The effect of the coronavirus has been widely felt and will continue to make an impact on the future of the world for years to come. Financial professionals (private equity professionals, investment bankers, and asset managers) felt the impact both personally and professionally throughout the first half of 2020. Many financial professionals were adjusting to […]

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Exiting Your Business? 3 Critical Considerations

Selling a business is the culmination of years of hard work and dedication to a way of life.  The seller has one opportunity to get the sale “right” to maximize retirement wealth and preserve that which will be transferred to future generations.  Of course, there are many detailed considerations, but the early focus should be […]

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