Financial Resources & News

New Short-Term Rental Tax Filing for California

Starting in 2024, California is mandating owners of short-term rental properties to file the new personal property tax statement (Form BOE 51-STR– page 32-33). According to the California Senate Bill No. 60, Chapter, 307, a “short-term rental” in the state refers to any residential property or portion of a residential property that is rented to an individual or group for 30 consecutive days or...

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Monthly Market Update (November 2023): 3 Things You Need to Know

Markets closed November in a positive mood thanks to tentative signs of economic moderation in the U.S. and falling inflation across developed markets. Here are 3 things you need to know: The S&P (+9.1%) saw the best month since July 2022, and reversed three months of losses. It was the best month for the Bloomberg US Bond Aggregate Index (+4.53%) since May 1985. Real estate’s (U.S. REITs)...

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College Cost Data Released for 2023-2024

Every year, the College Board releases new college cost data and trends in its annual report. The figures published are average cost figures based on a survey of approximately 4,000 colleges across the country. Over the past 20 years, the average price for tuition, fees, and room and board has increased 38% at public colleges and 29% at private colleges over and above increases in the Consumer...

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Maximizing Impact: The Benefits of Year-End Charitable Gifting

Imagine all the peopleSharing all the worldYou You may say I'm a dreamerBut I'm not the only oneI hope someday you'll join usAnd the world will live as one John Lennon - Imagine On this GivingTuesday, many people can use help this year given the geopolitical events around the world and here in the U.S. as people are still trying to deal with the impact of inflation. Reimagine a world built upon...

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A Changing Landscape: California Home Insurance

As wildfires in California become more frequent and intense, considering the need for wildfire insurance has never been more important. For homeowners and residents in high-risk areas, understanding how this insurance works is crucial to safeguarding your real estate investment and for peace of mind. The Basics Most standard homeowner's insurance policies include coverage for fire damage,...

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Good News on Catch-Up Contributions!

Catch-up contributions are additional employee deferrals that can be made to 401(k), 403(b) and governmental 457 plans for those participants who are age 50 or older. These contributions can be made on a pre-tax or Roth (after-tax) basis. As originally laid out in the SECURE 2.0 Act of 2022, catch-up contributions for those earning over $145,000 in the prior year would need to be Roth deferrals...

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News Alert: Grace Period Extended for EFAST2 Login Credentials

If you electronically sign your Form 5500 through the ERISA Filing Acceptance System (EFAST2) and haven’t yet obtained new credentials from, you will need to do so by December 31, 2023. This date extends the original September 1 deadline. The new credentials established during this transition can be used across many government services. If you do not currently have login...

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Upcoming Compliance Deadlines

December 2023 1st:  Participant Notices – Annual notices due for Safe Harbor elections (note that some plans are no longer required to distribute Safe Harbor notices), Qualified Default Investment Arrangement (QDIA), and Automatic Contribution Arrangements (EACA or QACA). 29th:  ADP/ACP Corrections – Deadline for a plan to make ADP/ACP corrective distributions and/or to deposit...

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Considering Changes to Your Business? Don’t Forget About Your Plan!

In today’s changing work environment, the sale or purchase of another business is not uncommon. If you’re planning to make changes to your business structure, remember to include the retirement plan in your negotiations. The type of sale can have a major impact on your plan, so it is highly recommended that you understand which type you are considering and notify your Third Party Administrator...

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Cost of Living Adjustments for 2024

Save More for Retirement in 2024 On November 1, 2023, the IRS announced the Cost of Living Adjustments (COLAs) affecting the dollar limitations for retirement plans for 2024. In October, the Social Security Administration announced a modest benefit increase of 3.2%. Retirement plan limits also increased over the 2023 limits. COLA increases are intended to allow participant contributions and...

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Markets in Review (Q3 2023)

The first half of 2023 was shaping up to be a record-setting year but reversed course in August and September as higher interest rates and fears of a rebound in inflation weighed on the markets. Global equity markets posted negative returns during the third quarter with small caps declining the most as the Russell 2000 Index was down -5.1%. However, on a year-to-date basis, the S&P 500...

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Monthly Market Update (October 2023): 3 Things You Need to Know

Heightened volatility, robust economic data, and concerns about the sustainability of government finances appear to be driving the recent movement in intermediate to long-term Treasury yields with the yield on the 10-year Treasury note topping 5% for the first time since 2007. For now, the stock market is taking its cues from the bond market. Here are 3 things you need to know: The Bloomberg...

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2023 Year-End Tax Tips

Here are some things to consider as you weigh potential tax moves between now and the end of the year. 1. Defer income to next year Consider opportunities to defer income to 2024, particularly if you think you may be in a lower tax bracket then. For example, you may be able to defer a year-end bonus or delay the collection of business debts, rents, and payments for services. Doing so may enable...

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Caring for Your Aging Parents

Caring for your aging parents is something you hope you can handle when the time comes, but it's the last thing you want to think about. Whether the time is now or somewhere down the road, there are steps that you can take to make your life (and theirs) a little easier. Some people live their entire lives with little or no assistance from family and friends, but today Americans are living longer...

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Charitable Giving Strategies

By: Arash Navi, CPA, CFP®, Wealth Manager America has been recognized as the most generous country in the last decade according to the Charities Aid Foundation’s World Giving Index.1  Charitable giving is deeply ingrained in American culture, reflecting the spirit of philanthropy and the desire to contribute to the greater good. Americans don’t just donate money to charities but 42% also...

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