Just like school subjects get more complex as you age; so too, does managing your finances. Sure, you may have established a standard will and healthcare directive early in...
Trusts: Top Ten Reasons Why
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Taxes
Tax Considerations of a Second Home
Based on a survey done by Statista in the fall of 2018, almost 15% of Americans surveyed said yes when asked if they owned a second home[1]. This likely comes as no...
Once I have filed my taxes… now what?
Many people experience a mix of uncertainty and dread, maybe even excitement, each spring as they compile their tax information and patiently wait for their tax preparer to...
New Year, New Required Minimum Distribution
As soon as the clock strikes midnight on New Year’s Eve and a new calendar year officially begins, our inboxes are flooded with emails from clients requesting the...
The New Mortgage Math
One of the most frequent questions we receive at White Oaks is whether or not to pay off the mortgage on their home. In the past we had a pretty standard answer. If your...
Navigating Minnesota’s Residency Requirements
What better time to talk about Minnesota residency requirements than March, often the snowiest month of the year? But the snow isn’t the only thing that has lifelong...
Tax Projections: Be Proactive Now to Avoid a Surprise in April
Tax Planning If you’re like me, you can hardly believe that the Fourth of July has come and gone for another year. Not only is the summer halfway over, but so is the...
Who's Paying Taxes? Not Everyone!!
There is much debate on who should bear the burden of taxes. Maybe the full view will provide some much needed information....
Self-Employed Retirement Plan Options
What options do hands-on owner-operators have? If you have a small company and want a retirement program, you want to consider these plan choices. The SIMPLE IRA. These...
When Can I Throw All This Paper
You have probably heard that you should retain copies of your federal tax returns for 7 years. Is that true, or a just myth? How long should you keep those quarterly and...
Charitable Giving Using Trusts In A Wealth Management Plan
The notion of "giving back" through some form of philanthropy is common in implementing a wealth management strategy. Of course, making a cash contribution or donation of...
Top 10 Reasons For A Failing Wealth Management Strategy
Every so often we hear "What did I do to get me here?" or "What did I do wrong?" Below are the top ten reasons that otherwise bright people fail to meet their wealth...