Category Archives: Investing/Financial Planning

Fun Travels in the Rear View Mirror and Fun Travels in Front … Friday Before Final Week of School and Holiday Season … Hesitation for the New Site Here … Plunge will be taken … Newsletter Taking Shape …

Posted on December 8, 2023 by | Leave a comment

With travels down South for the Houston Holiday Party concluding and fun travels next week…. The travel related advantage points are happily stacking up, and the Holiday Season is Coming FAST…. Especially with the weird Calendar this year —

Did anyone else get caught by the calendar this year? Yours Truly sure did!

Final Week Of School for the Sophomore

Next week is Finals week for the 16 year old…thankfully the straight A second semester Collegiate Freshman is here to help her brother AND run a ton of errands…. Wow… NICE!

New Blog Site Plunge About to be Taken

With a goal of having a new site here at http://www.street-cents.com by the turn of the calendar….said Calendar is getting full….

Ok…. you know that old saying, tell someone so you will be accountable? You have been told and the accountability is ON! Now to attach the patience hat securely!!

Newsletter In the Works

Our editor has said the HUGE Tax subject content is filling the Newsletter….so a quick pivot to Capital Market and Economic info is up next for Weekend and travel related duty!

Ahhh….today is a Friday, Enjoy.. Spend time with those important and Talk Next Week from the Road!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.

A Dallas Texas based fee only

Financial Planning Total Wealth

Management firm.

jkfinancialinc

street-cents

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Posted in General Financial Planning, Investing/Financial Planning, John Kvale, Personal

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One More item about Taxes … IRS Back Peddles … Maybe? Beneficiary Required Minimum Distribution Jostling – Ignoring the 10 Year Empty Rule ….

Posted on December 6, 2023 by | Leave a comment

While proudly showing our neat new Tax Cheat Sheet… since we are talking taxes ….

The following is a partial article from our Q 1 2024 – (yep, 24 is here) … Newsletter… This subject has already come up several times, so here we go!

A heads up on a very likely required minimum distribution tax law to occur in 2024!  IRA Beneficiaries inheriting IRA’s that had already started RMD mandates, may start up again, AND also have the 10-year empty rule.

We try to make it a point not to talk too much about rules, laws, or regulations, that are not in effect, given this fact we will not spend too much time on this subject matter as this is a rule that is very much in flux, but our tax advisors that are plugged in to the appropriate channels feel there is a very high probability of this passing.

The Secure Act 1.0, first commencing January 1, 2020 changed Required Minimum Distribution (RMD) rules to allow for a non mandatory distribution as long as the funds were emptied from the beneficiaries account by the end of 10 years. Prior rules allowed for the beneficiary to draw based on his/her age thereby allowing a very lengthy draw presumably taxable mandatory draw over the lifespan of the beneficiary. At the time, not a terrible trade off, given a 10 year window to disperse.

It is highly likely that there will be rules that mandate those under this new 10 year window, if the descendant had commenced RMD’s will be forced to continue at the original rate and will additionally be forced to empty the beneficiary IRA account by the end of the 10 year term if this does not happen automatically. The one catch is the tracking of restarting this mandate, so there may be relief, but those with good insight are saying most likely this will be implemented.

Have a Great “IRS Changes Their Mind Heads UP” Day!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.

A Dallas Texas based fee only

Financial Planning Total Wealth

Management firm.

jkfinancialinc

street-cents

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Posted in Investing/Financial Planning, Tax Related

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Proudly OUR OWN 2024 Tax Rates, Rules, Levels, % Holdings and Data – The whole Enchilada … YAY … In Great Format and Printable for YOU! … Now posted on our Blog Site … Special Highlights to Frequent Uses and Questions …

Posted on December 5, 2023 by | Leave a comment

Last year, right around this time, after the new tax law levels were released from the various entities, mostly the IRS, we happily struggled to put together a reasonably formatted CHEAT SHEET, for lack of a better term. But after a year of use, comments, and handy reference guide, this year we’re happy to have found an even more comprehensive sheet at the bottom of this post. And we’ll also have this prominently posted here on our www.street-cents.com site.

We certainly understand as you can tell with comprehension may come some confusion on just a lot of darn numbers. Given this fact we have highlighted the areas of most use, most confusion and most important, for future easy reference in 2024.

In addition to all of the good news above, occasionally some of these data points are changed … sometimes right at the last moment, which we will be able to have updated and let you know if they do as we will update all areas that we have this legend or CHEAT SHEET post.

Last year’s collage of tax tables formulated the focus point of our Q1 Newsletter this year’s much more premium and pristine table will also be the focus and those with steely memories may recall that the Secure Act 2.0 was passed at the very last minute in 2022 with many tax law changes that kick in in 2024 and a couple that were still punted out to the future.

On all forward facing sources of our Cheat Sheet please Click to have a full screenshot for better reference and these are totally printable and you may share at your leisure as we have licensed this for reprint!

Have a Great “Total Tax Table CHEAT SHEET” Day!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.

A Dallas Texas based fee only

Financial Planning Total Wealth

Management firm.

jkfinancialinc

street-cents

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Posted in Investing/Financial Planning, Tax Related

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October AND November 2023 Audio Video Review, Taxes Deductions and Contributions for 2024, Your Favorite Team Analysis – By John Kvale CFA, CFP

Posted on December 1, 2023 by | Leave a comment

Hello and Welcome to our October and November Financial Planning and Capital Market Update! October was slowed by the eventual update of our site, here…which continues to be in update mode!

If you are too busy to read, feel free to listen as we describe our post and thoughts in friendly podcast audio format as well as Video!

Newbies –

We like to articulate our thoughts and review on a Monthly basis our Financial Planning Tips, Capital Markets thoughts and current events!

Hope you enjoy!

Break In: Happy to Announce a Second Client Appreciation Get Together…

We are happy to announce a fun appreciation Evening in Houston Texas!

Wednesday December 6, 2023 from 6-8 PM

Cadillac Bar – 1802 Shephard Dr. Houston Texas

Back to our regularly scheduled program:

October & November 2023 Video

YouTube

Financial Planning Tip(s)

Take the Stress Out

In this funny but serious post, just completed earlier this week, we discuss the ease of stress that allowing plenty of time and being prepared allow….

Somewhat self serving, as your stress is of course our stress….but we can all be less stressed together!

IRS Updates:

The small but coming Inflation adjustments for 2024 were announce and we completed a post here with great details….

Here are the biggies:

  • Standard deductions move up to $14,600/ filer
  • Unlimited Gifting per person goes to $18,000

Then again earlier in the month we grabbed the new IRS contribution inflation adjusted levels here in this post

Again the biggies:

  • 401k and similar go up to $23,000
  • IRA and catch up go to $7000

Capital Market Comments

Capital Weight Versus Equal Weight! – Why the Heck it matters?

In this timely October post we discuss the importance of the strength of the team versus just a few players…aka Capital versus Equal Weight ….We also get to show off some of our very cool new research “Stuff” from Koyfin….

Oh….the reason this matters so much ….is just as your team can do well with an all star or two… lose them and you could be in trouble…. the wish is players develop around them to give more depth!

Have a Great Day, Talk to You at the End of December and the Year!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.

A Dallas Texas based fee only

Financial Planning Total Wealth

Management firm.

jkfinancialinc

street-cents

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Posted in Audio, Education, General Financial Planning, Investing/Financial Planning, Market Comments, Monthly Review, Podcast, Video

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Take the Stress Out of the Season…. Let’s All Give Ourselves EXTRA time for EVERYTHING …

Posted on November 29, 2023 by | Leave a comment

A road Warrior friend of mine crossed paths over the Thanksgiving Holidays…. sure enough one of his best wisdoms from being a Road Warrior (Out Sunday/Monday back Friday/Saturday- for years) resurfaced….

“With all those weekly flights, how do you keep the stress away? …. That’s easy, arrive EARLY!”

Yesterday we were on the phone with one of our back office people…. when she answered the phone the stress was clear in her voice….”How are you? Hanging in there!” …. We all chuckled together and was able to get a laugh out before the conversation was over…heck we even offered an open return call if she needed another laugh….

Let’s All Arrive Early and Take the Stress Out

ANY kind of money movement this time of the year, PLEASE allow tons (a week if possible) of extra time….

Year end “Stuff” i.e. 401k, Charitable contributions, Donations, afore mentioned money movement, RMD’s or any transaction, especially financial related – Let’s get them done early and take the stress out!

Either Scouts Motto of “Be Prepared” or my Road Warrior buddy of Arrive Early – One in the same… Let’s all Take the Stress out this season and NOT wait until the last minute !

Have a Great “Arrive Early, Be Prepared Less Stressful” Day!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.

A Dallas Texas based fee only

Financial Planning Total Wealth

Management firm.

jkfinancialinc

street-cents

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Posted in Clients/Clients Only, Investing/Financial Planning

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Last Friday Before Thanksgiving … 27th Annual Party Reminder … Black Friday Thoughts … Office Hours, Today, Next Week, Electronically Tethered…

Posted on November 17, 2023 by | Leave a comment

Today is a Friday, and WOW at times like this, time really shows how fast it is going… at least on our side of the perch….

Tomorrow is our 27th Annual Party… we hope to see everyone there, thanks in advance to the great crowd we are expecting!

Black Friday – Stay Sharp

One week from today is the famous Black Friday, a name formed in the days of certain retailers turning a profit (From Red to Black) … A cautionary note, many times prices are inflated only to be lowered on Black Friday…. just a heads up!

Office Hours – Family Travels – School Holidays

Just a few years ago, we wished for the week off for Thanksgiving for the kiddos… and still do, but there is an element of “Oh… What do we do!” All good…. and thankful for the much needed family time… As such we will be mostly out of the office next week, but tethered electronically, and some out of town travels… all good !

Have a Great” Friday before the 27th Party and Thanksgiving Week” Day!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.

A Dallas Texas based fee only

Financial Planning Total Wealth

Management firm.

jkfinancialinc

street-cents

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Posted in Clients/Clients Only, General Financial Planning

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US Has More Spare Bedrooms than Ever Before …. From Apartment List … Why and who has them too…

Posted on November 15, 2023 by | Leave a comment

Apartment List Research Department hit our in box earlier this week with an interesting statistic…with Copyright permission from earlier, we are gladly sharing…. Hope you find it as interesting as we do!

From Apartment List – More Spare Bedrooms than EVER before

This neat article By Chris Salviati hit our inbox this week and we wanted to share…

Anytime EVER is mentioned we take note…as EVER is a long time….

From the Article:

Using this definition, we find that 62 percent of all U.S. households had at least one spare bedroom in 2021, while 26 percent had exactly the required number of bedrooms, and 12 percent had too few bedrooms.

Who has all those bedrooms?

A lot of seniors aging in place …

Also, homes are just darn bigger!

Some great ideas on how this may be greatly productive in multiple ways…in the essence of time, will let you read the authors points near end of the article…good stuff…

Have a Great “Spare Bedroom Explained” Day!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.

A Dallas Texas based fee only

Financial Planning Total Wealth

Management firm.

jkfinancialinc

street-cents

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Posted in Economy, Education, General Financial Planning, Investing/Financial Planning

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IRS Releases Federal Income Tax Rate Inflation Adjustments for 2024 – New Tax Rates

Posted on November 13, 2023 by | Leave a comment

Late last week the non work research email received the following update from the IRS…..

This announcement is more directly related to Federal income related tax rates/levels not as much retirement or gifting and again….is not in a great format…. With such good responses from last year, we plan on highlighting these levels again here on our blog as well as in our Q1 2024 Newsletter!

Given the aforementioned formatting ….and length… highlighted areas cover the vast majority of importance!

This from the announcement:

The tax year 2024 adjustments described below generally apply to income tax returns filed in 2025. The tax items for tax year 2024 of greatest interest to most taxpayers include the following dollar amounts:

  • The standard deduction for married couples filing jointly for tax year 2024 rises to $29,200, an increase of $1,500 from tax year 2023. For single taxpayers and married individuals filing separately, the standard deduction rises to $14,600 for 2024, an increase of $750 from 2023; and for heads of households, the standard deduction will be $21,900 for tax year 2024, an increase of $1,100 from the amount for tax year 2023.
     
  • Marginal rates: For tax year 2024, the top tax rate remains 37% for individual single taxpayers with incomes greater than $609,350 ($731,200 for married couples filing jointly).The other rates are:
  • 35% for incomes over $243,725 ($487,450 for married couples filing jointly)
    32% for incomes over $191,950 ($383,900 for married couples filing jointly)
    24% for incomes over $100,525 ($201,050 for married couples filing jointly)
    22% for incomes over $47,150 ($94,300 for married couples filing jointly)
    12% for incomes over $11,600 ($23,200 for married couples filing jointly)The lowest rate is 10% for incomes of single individuals with incomes of $11,600 or less ($23,200 for married couples filing jointly).
     
  • The Alternative Minimum Tax exemption amount for tax year 2024 is $85,700 and begins to phase out at $609,350 ($133,300 for married couples filing jointly for whom the exemption begins to phase out at $1,218,700). For comparison, the 2023 exemption amount was $81,300 and began to phase out at $578,150 ($126,500 for married couples filing jointly for whom the exemption began to phase out at $1,156,300).
     
  • The tax year 2024 maximum Earned Income Tax Credit amount is $7,830 for qualifying taxpayers who have three or more qualifying children, an increase of from $7,430 for tax year 2023. The revenue procedure contains a table providing maximum EITC amount for other categories, income thresholds and phase-outs.
     
  • Estates of decedents who die during 2024 have a basic exclusion amount of $13,610,000, increased from $12,920,000 for estates of decedents who died in 2023.
     
  • The annual exclusion for gifts increases to $18,000 for calendar year 2024, increased from $17,000 for calendar year 2023.

Have a Great “Federal Tax Rate Update” Day!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.

A Dallas Texas based fee only

Financial Planning Total Wealth

Management firm.

jkfinancialinc

street-cents

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Posted in Investing/Financial Planning, Tax Related

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Quick Update on Treasury Yields…. 2 Year and 10 Year Treasury Yield Down, Price Up, Good for Stocks at the Moment but ….

Posted on November 8, 2023 by | Leave a comment

With a road trip happening as you read this…. was a bit short on time for our mid-week post…. links in this post explain a lot….

Wanted to draw your attention to the move in US Treasury yields/bonds (and show off our new Koyfin technology too) …. this is the 2 and 10 year (still inverted- more to come on this- digressing) ….more importantly, the sudden drop, commenced by an FOMC meeting and then reinforced by weaker Employment data has bond interest rates down, bond prices up…..

This move down in yields has initially pushed Stocks up, and bond portfolios UP… we are cautious to call a victory lap on this bond and interest rate movement, but again worth noting…..

More importantly, bonds go up and rates down, under this circumstance because the smart guys in the room… are pricing in a slowing of the economy…. NOT usually good for Stocks…. after the candy wears off!

Have a Great “Quick Deeper Dive/Second Level Thinking on Rates” Day!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.

A Dallas Texas based fee only

Financial Planning Total Wealth

Management firm.

jkfinancialinc

street-cents

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Posted in Interest Rates, Investing/Financial Planning, Market Comments

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