Adam Keller

New 2021 Key Figures

• The standard deduction for 2021 will increase by $300 for married couples filing joint returns and $150 for single taxpayers.
• Social Security benefits received a 1.3% adjustment (down from 2020’s 1.6% increase).
• Retirement Planning – contribution and catch-up limits remain the same, but income…Read More

COVID Relief Updates

• Congress came to the aid of small business owners. Recent legislation revised initial PPP treatment – now, not only can PPP…Read More
• The 2^nd round of COVID relief was signed into law by Congress on December 27, 2020.  Here is an overview of the Consolidated…Read More

2020 in Review – A Few Tidbits

COVID-19 certainly took a toll on the markets and the economy in 2020. Although more volatile than most years, markets did recover; however, the economy is having a tougher time shaking off the effects. These 3 charts illustrate the disconnect between the stock market and economy: Annual Market Returns vs. Unemployment Rate vs. Transportation Stats

Mark Your Calendars

• Social Security Seminar with special guest Lee Alviar from the Social Security Administration.
• When: Thursday, March 11, 2021 at 5:30 p.m. CT
• Register in advance for this meeting. After registering, you will received a confirmation email containing information about joining the meeting.

Need Something to “Geek Out On”?

Here is what your financial planners are reading:

• The Cross-Border Family Wealth Guide by Andrew Fisher & Tim Kochis
• The Psychology of Money: Timeless lessons on wealth, greed, and happiness by Morgan Housel

Change Is Brewing

• An Act of Congress…Increased taxes, hearing aids for Medicare participants, and potential restrictions on Roth conversions.  $400k, $425k, $450k in taxable earnings are key thresholds.  If we’re making “backdoor Roth” contributions or considering conversions, it may benefit us to do those before December 31^st. Read more
• Crypto Currencies – You may want to harvest crypto-currency losses before year-end as well – wash sale rules coming in 2022.
• Benefits Enrollment – Here are a few things to consider if you have an H.S.A./HDHP option for your medical insurance.

College Planning and Application Process

We tapped a pro, Yvonne Ovalle, for some insight into how families and their students should view the nuanced process of approaching college applications and college resume building. There are a number of helpful tips in her College Planning Process 101.

Mark Your Calendars

Important dates you should know:

• October 1^st – FAFSA for 2022-2023 School Year opens. We recommend doing it early.
• October 21^st, 5:30 p.m. – Three Oaks Town Hall: Real Estate Investing – A Public Forum on Private Placements (virtual and in-person).
  Register today!
• December 31^st – Deadline by which to take Required Minimum Distributions (RMDs)

Need Something to “Geek Out On”?

Here is what your Three Oaks team is reading:

• Here is what your financial planners are reading:
  • Adam’s reading – The Undoing Project: A Friendship That Changed Our Minds
  • Featured books written by one of our clients, Robert Vos:
    • Miami Twins
    • Miami Sins
    • Champagne Urn

Q2’21 In Review

• Inflation – Transitory or here to stay? Energy price increases are an outlier, and we see core CPI returning to historic averages.
• Capital Gains Tax – Proposed changes could increase the maximum rate to 43.4% from today’s 23.8%. See how this compares to historic rates, and we’ll continue to monitor actual changes to the tax code.
• Lumber – Prices are up 288% from April 2020 to May 28 2021. What does this mean for your home insurance policy? We asked a pro…

Mark Your Calendars

Important dates you should know:

• July 23rd – Summer Olympics Tokyo begin.
• September 15th – 3rd quarter estimated tax payments due.
• September 16th – Medicare 101 Seminar
  Register in advance for this meeting
  (After registering, you will receive a confirmation email containing information about how to join.)

Need Something to “Geek Out On”?

Here is what your Three Oaks team is reading:

• Here is what your financial planners are reading:
  • Storey’s Guide to Raising Chickens

Q1’21 In Review

• Inflation – A historical perspective and some insight on hedging against it. Read More
• The American Rescue Plan was signed into law on 3/11/2021. Here is an overview of the ways it is intended to help individuals and businesses.
• Q1 ’21 Recap: Value outperformed, bonds struggled, and real estate bounced back a bit. View Data

Mark Your Calendars

Join us for a Medicare Seminar with special guest Douglas Gilreath with Humana insurance to learn more about the health insurance choices that best suit your needs and budget during retirement.

• When: Thursday, April 22, 2021 at 5:30 p.m. CT
• Register in advance for this meeting. After registering, you will receive a confirmation email containing information about joining the meeting.

Need Something to “Geek Out On”?

Here is what your financial planners are reading:

• Crypto Assets: Bitcoin, Blockchain, and Cryptocurrencies
• The Household Endowment Model: Wealth Planning for Affluent Families by Vince Annable

CARES Act

The Coronavirus Aid, Relief, and Economic Security Act allows for the suspension of RMDs, exemption from the 10% penalty for early withdrawals from IRAs and qualified plans, and more lenient treatment of distributions for tax purposes. Read more about eligibility and qualifications.

Year-End Planning

• Use this 2020 Tax Planning Aid to help with your projected taxable income.
• Did You Know: The CARES act allows taxpayers to take up to a $300 above-the-line deduction for cash gifts to charity in 2020.
• The Fed plans to keep interest rates low for the foreseeable future. Time to refi mortgages and student loans?

Three Oaks Virtual Town Hall Meeting

• Social Security Seminar with special guest Lee Alviar from the Social Security Administration.
• When: October 22, 2020 at 5:30 p.m. CST
• Register in advance for this meeting. After registering, you will received a confirmation email containing information about joining the meeting.

Mark Your Calendars

• Social Security Seminar with special guest Lee Alviar from the Social Security Administration.
• When: Thursday, March 11, 2021 at 5:30 p.m. CT
• Register in advance for this meeting. After registering, you will received a confirmation email containing information about joining the meeting.

Need Something to “Geek Out On”?

Here is what your financial planners are reading:

• “Boom and Bust – A Global History of Financial Bubbles” by John D. Turner