It's the time of year again to review Medicare options. The Open Enrollment Period — which begins on October 15 and runs through December 7 —is an opportunity to switch to a better Medicare health and prescription drug plan. Let's review the Open Enrollment Period options and look at changes to Medicare benefits for 2025.
The Nevada State Medical Association (NSMA) has honored Dr. Joe Hollen with its 2024 President’s Award. Dr. Hollen, who practiced as an Emergency Physician for two decades before serving the next two decades as a Certified Financial Planner™ professional, was recognized on September 21, 2024, for his contributions to both the physical and financial well-being of others.
The anticipation building up to elections often brings with it questions about how financial markets will respond. Fortunately, the outcome of an election is only one of many inputs to the market. This interactive exhibit examines data for nearly 100 years of US presidential terms and shows a consistent upward march for US stocks regardless of the administration in place.
“Hackers may have stolen the Social Security numbers of every American” in a recent data breach. While you shouldn’t live in fear, it’s wise to assume that your personal data may be accessible online in some form. Here are the proactive steps you can take to reduce the risk of identity theft and other forms of misuse. Chief among those steps is freezing your credit.
By January 1, 2025, nearly every small business owner must file an online "beneficial ownership information" (BOI) report. Filed just once (or with any ownership changes) and for free, nearly every business except certain sole proprietors and other limited exceptions should consider itself required to file (including LLCs, corporations, s-corporations, limited partnerships, family limited partnerships, even some HOAs, and others). Within, we review how we would file a BOI report as a ≥ 25% owner or control person and answer common questions we hear regarding the online form at https://boiefiling.fincen.gov/boir/html.
Tax changes are on the horizon with the "TCJA sunset". Within, we highlight how the rules are scheduled by law to change. Use our Comparison Guide and Personalized Checklist to review how your taxes might change with this major potential revision of tax law. Let's consider these changes together as opportunities to avoid reacting to them later as threats.
Nobody wants to make mistakes. And yet, we’re human; mistakes happen. Mistakes are part of life. So, here’s how to minimize the investment mistakes that matter the most, and make the most of the ones that remain. And since some misfortunes are just bad luck, here is a link to Charity Navigator's "Give Now" page, a collection of the most critical charitable issues that need a helping hand right now.
Paying taxes is part of life, but did you know that when you choose to pay them might make a difference in your tax bill, and in your quality of life? Consider these must-know facts about your taxes, especially if you owe "quarterlies" or estimated "voucher payments."
Open Window was founded 20 years ago today. Created by Joe Hollen, MD, CFP®, and led by his son, Eric Hollen, CFP®, join us in celebrating our 20th anniversary as a fee-only fiduciary—a stronghold for your family's financial journey.
Let's explore how you can maximize the benefits of your HSA to effectively manage healthcare costs during your Medicare journey, including using HSA funds to pay for certain Medicare premiums, coinsurance, deductibles, and out-of-pocket drug costs.
The negative effect of holding too much cash (or bonds) for even a short time can be profound. Missing a period of strong returns can drastically impact overall performance, as we show within.
Although yields on cash pay more than ever, don't assume your cash savings automatically receive a higher rate. Within, we help you weigh your cash bank account options, including the ideal use of checking, savings, and money market accounts for "retirees" and those "not yet retired."
An illustrated world review of capital market results in 2023, along with timeless advice for informing 2024 investment decisions.
If there is a universal investment ideal, it is probably this: Buy low and sell high. There exists an unassuming process for doing just that, called "rebalancing," but it is often overlooked for more exciting ideas.
Every year, the IRS evaluates and adjusts certain tax provisions to account for inflation. Below are the latest adjustments for the 2024 tax year - including common income, dividends, and gain tax brackets.
As winter settles in, reflect with us on sunnier times. Envision your finances as a garden—what actions would deserve your attention? Here are our four favorite items worth tending to as 2024 approaches… plus a reflection on how to make the most of the remaining year.
For those who need financial aid to pursue their dreams, here is how to proceed. The sooner you apply for the FAFSA®, the more likely your efforts will pay off.
Which specific investment ideas work, and can they be relied upon going forward? Within, we review the most important academic insights that, in aggregate, offer us a clearer pathway with which to navigate the world's daily twists and turns.
A health savings account (HSA) provides a tax-smart way to confront the growing burden of healthcare costs while providing other unique tax advantages. Here's what you need to know towards making a lifetime of health & medical expenses tax-deductible (including most Medicare expenses).
Tax savings can be significant by targeting the “Valley of Opportunity” that appears during lower-income tax years. Life tends to present these valleys as predictable opportunities, occurring at certain times and even at specific ages. Make sure you’re prepared to act by “filling up the valley” to avoid leaving your future self, or your beneficiaries, with higher effective tax rates.