Blog - North Light Financial Services

Important IRS Adjustments for 2013

IRAs & workplace retirement plans have higher contribution limits. The IRS has set annual contribution limits for IRAs, 401(k)s and other retirement plans higher for 2013, and made other important adjustments for inflation as well. Here is an overview of some notable changes just announced. The 2013 IRA contribution limit: $5,500. This is a $500 increase from 2012, and it applies to both Roth and traditional IRAs. The IRA catch-up contribution limit for those 50 and older remains $1,000.1,3 The [...]

By info@northlightfinancialservices.com|2017-03-28T08:17:31-04:00November 29th, 2012|401(k)/403(b), IRA, Personal Finance, Retirement|Comments Off

The Big Tax Questions of 2013

THE BIG TAX QUESTIONS OF 2013 How will Congress resolve these issues? Decisions must be made. In the next couple of months, Congress will address several major tax matters. Here are the big questions looming. The Bush-era income tax cuts. Will the current 10%-15%-25%-28%-33%-35% federal tax rate structure give way to 15%-28%-31%-36%-39.6% tax brackets in 2013? After the election, some analysts feel a compromise will be struck to maintain some of the Bush-era cuts for another year. In 2013, you may [...]

By info@northlightfinancialservices.com|2017-03-28T08:17:32-04:00November 15th, 2012|Business/Economic News, Income Taxes|Comments Off

Big Spenders vs. Big Savers

Who would you rather emulate? You stand at your window and look across the street. Nice house, you think. Nice landscaping. Nice sports car. Nice driveway. New bikes for the kids. Wow, your neighbors are really well off. If only you had that kind of money. That plain home down the street with the older model sedan parked out front pales in comparison. A couple in their seventies lives there, and the front yard hasn’t been spruced up in a [...]

By info@northlightfinancialservices.com|2017-03-28T08:17:32-04:00November 1st, 2012|Personal Finance, Saving & Budgeting|Comments Off

Financial Considerations for 2013

FINANCIAL CONSIDERATIONS FOR 2013 We are now in plain view of the fiscal cliff. After the election,Congress may or may not end up keeping income and estate tax rates at their recent levels. Next year may bring some notable financial developments, and it isnt too soon for households to think about them. You may want to prioritize tax reduction. If the Bush-era tax cuts sunset, everyone will see higher taxes. The federal income tax brackets (10%, 15%, 25%, 28%, 33%, [...]

By info@northlightfinancialservices.com|2017-03-28T08:17:32-04:00October 18th, 2012|Business/Economic News, Personal Finance|Comments Off

Stocks & Presidential Elections

What does history show – and should we value it? As an investor, you know that past performance is no guarantee of future success. Expanding that truth, history has no bearing on the future of Wall Street. That said, stock market historians have repeatedly analyzed market behavior in presidential election years, and what stocks do when different parties hold the reins of power in Washington. They have noticed some interesting patterns through the years which may or may not prove [...]

By info@northlightfinancialservices.com|2017-03-28T08:17:32-04:00October 4th, 2012|Business/Economic News|Comments Off