Tilia Fiduciary Partners, Inc.

Did you know Small Business Saturday was created by American Express in 2010 to encourage more local holiday shopping? Since then, it has grown into a powerful movement supporting our communities. To support this initiative, we have gathered some important information to showcase the scope of Small Business Saturday’s impact. Swipe through to learn more.

This Veterans Day, we invite you to join us in honoring the brave men and women who have served our nation. Our veterans have shown incredible bravery, dedication, and resilience, ensuring our freedoms and security. Whether serving at home or abroad, in times of peace or conflict, their contributions are invaluable. To all the veterans in our network, thank you for your service.

As the holiday season approaches, we want to remind everyone about the importance of charitable giving and its tax benefits. Donations to qualified organizations must be made by December 31, 2024, to qualify for a deduction on your 2024 tax return. Here are some key points to keep in mind as you prepare your charitable giving: ?Contributions must go to qualified charitable organizations. ?Keep proper documentation for your tax records. ?Be aware of deduction limits: generally, cash contributions up to 60% of your AGI and non-cash contributions up to 50% of your AGI. Thoughtful planning can maximize the impact of your donations while also providing tax benefits!

With the end of the year approaching, it’s time to think about your taxes. If you're concerned about your tax bill next year, there's still time to plan and potentially save money. Swipe for some year-end tax prep strategies to consider ??

The FAFSA application is undergoing significant changes that could impact financial planning for college-bound students, including: ??? Delayed Release - The 2025-2026 FAFSA release is postponed from October 1 to December 1 due to software issues. Limited testing with select students starts on October 1. ?? Elimination of Multi-Child Discount - The revised FAFSA formula removes the discount for families with multiple children in college. Each child's Student Aid Index (SAI) is now calculated separately, without any discount. ?? Changes in Financial Reporting - Contributions to workplace retirement plans like 401(k) or 403(b) are no longer counted in SAI calculations, potentially lowering reported income and improving aid eligibility. However, tax-deferred IRA contributions are still taxable. ?? Treatment of Sibling 529 Assets - The new FAFSA guidelines exclude sibling 529 and Coverdell accounts from being reported as the student's assets, though they remain parental assets if owned by the parent. Accounts owned by others, like grandparents, don't need to be reported, which could increase aid eligibility. ?? CSS Profile Considerations - These FAFSA changes do not apply to other financial aid applications, like the CSS Profile, which may still consider factors like the multi-child discount and sibling 529 assets in determining aid packages.

Stock market indexes are essential indicators of the stock market’s current status. The major indexes, such as the Dow Jones, S&P 500, and Nasdaq 100, each track different segments of the market. Swipe through to learn more about these major indexes and what they represent.

October is National Financial Planning Month, an excellent opportunity to review simple steps for building financial security and retirement savings. Swipe through for some valuable pointers from our team ??

With fall here and mortgage rates seeing a drop, it's important to stay informed about the key market shifts that could impact your buying or refinancing plans. Swipe through for a breakdown of the latest trends and what they mean for you.

As we celebrate National Financial Planning Month, our team wanted to share a few general best practices to optimize financial strategies before the year ends. Taking these steps can help you maximize your financial resources and position yourself for continued success.

Did you file a tax extension in April? Consider this a friendly reminder that the tax extension deadline is fast approaching! Those who filed an extension have until October 15 to file federal income tax returns. Missing the extended deadline could result in a 5% penalty for each month or partial month you are late.