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Welcome to the Foundation Wealth blog!  We hope you learn something! Please note, the opinions expressed in the blog are the views of the individual member of the team and may not be the opinion of the firm as a whole.  Please also note that this blog is traditionally used for education purposes and should not be construed as investment advice.  Please consult your individual advisor at Foundation Wealth & Tax Advisors for  personally crafted advice.

Friday, December 1, 2023

               A Health Savings Account (“HSA”) is a personal savings account that can grow tax-free funds for medical expenses. They were introduced in...

Thursday, November 30, 2023

Matt and I had an alternative date night last night, November 29th. We had the pleasure of attending Axios Charlotte's Power Players event at the stunning Mint Musuem.  We also got to hear from thought-provoking entrepreneurs...

Wednesday, November 29, 2023

When the news broke yesterday that Charlie Munger passed away, three of my clients and friends texted or emailed me to say “rest in peace Charlie.”  I don’t recall if I had ever told them that I was a fan of...

Sunday, November 26, 2023

In less than two months’ time, we will start to file 2023 tax returns.  Now is as good a time as ever to share information on some of the tax credits available to taxpayers.  Hopefully some of the notes I took from my...

Wednesday, November 15, 2023

  Four Interesting Ways to Borrow Against Your Assets   A few years ago, there was a big story making headlines about how Elon Musk paid zero federal income taxes as one of the wealthiest men in the world at that time. Since...

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Monday, November 6, 2023

Matt Costa, CPA & CFP, delves into economic trends as we look to 2024. He discusses recessionary indicators, such as unemployment & interest rates, U.S. reshoring, and technology.

Wednesday, October 18, 2023

In my May 2023 letter, I probably went more into detail on debt and inflation than many of you care to read.  Well, when the momentum starts with this rock rolling downhill, no force has yet slowed down my thinking on the subject...

Thursday, October 12, 2023

In my collegiate and professional life, I have witnessed first-hand the importance of financial literacy for young professionals starting out, and how financial illiteracy can be devastating to a person’s short- to medium-term balance sheet

Monday, October 2, 2023

Bond ladders 101 In the ever-changing world of finance, it's important to have a solid foundation in place. Using a bond ladder is a tried-and-true strategy that can provide you with a steady stream of income and predictable cash flow...

Tuesday, September 5, 2023

Next up on Lessons I’ve Learned as the Spouse of a Financial Planner is discussing the necessity of estate planning. More explicitly, I’ll be delving into why discussing your death is a must.   It’s natural, most...

Monday, July 31, 2023

Readers may have noticed I have a fascination with currencies.  Whether it’s fiat, gold, cryptocurrency, or cigarettes for prison inmates, the store of wealth and exchange of value in physical or abstract form rather than...

Monday, July 17, 2023

 Number two for Lessons I’ve Learned as the Spouse of a Financial Advisor is making my money work smarter and not harder. If you’ve already engaged a financial advisor, this idea has already resonated with you. Few...

Tuesday, July 11, 2023

In my experience, smaller businesses providing services are usually best-taxed as S-Corporations.  To that point, I advise a lot of my clients to either organize as an S-Corporation directly or have their LLC elect for...

Wednesday, June 28, 2023

Welcome to the first of our series: Lessons I’ve Learned as the Spouse of a Financial Advisor. Over the next couple months, I will be taking partial authorship and sharing some of my favorite things (so far) I have learned being...

Wednesday, June 14, 2023

Through my CPA practice, I meet a lot of business owners looking to grow their business.  Earlier this year, one of my small business clients mentioned that she spoke to another business owner in the same field that wanted to sell...

Tuesday, May 30, 2023

Matt reviews the debt ceiling debate, inflation, and impacts to you & your financial plan.

Thursday, May 18, 2023

At Foundation Wealth, we try to be as full service as an advisory firm can be.  The four pillars of financial planning are: 1) investment planning; 2) tax planning; 3) insurance planning; and 4) estate planning.  As your...

Monday, May 1, 2023

If your business is still filing a Schedule C as a Sole Proprietorship to report your taxable income on your individual tax return, it may be time to consider electing to be taxed as an S Corporation.  Like a Sole Proprietorship,...

Wednesday, April 26, 2023

The news broke a few weeks ago that Daniel Snyder was finally ending his dreadful reign of the Washington Commanders. While the Snyder era produced a losing record and zero championship, he made out like a bandit when selling the...

Thursday, April 20, 2023

A Back Door Roth IRA is a great way to get assets into a Roth account if you are over the income limit to directly contribute to a Roth IRA.  The income thresholds for 2023 are $153,000 if single and $228,000 if married filing...

Wednesday, April 5, 2023

I love diversifying cash flows.  To be as secure and practically diversified, I believe cash flow from real estate, stocks, bonds, and businesses are needed.  The last item listed, cash flow from businesses, can be the...

Wednesday, March 29, 2023

I was fascinated to learn more about Xi Jinping and Vladimir Putin’s three-day summit last week after I learned they had intensely discussed de-dollarizing their trade.  Many people are unfamiliar with the fact most...

Friday, March 17, 2023

With March and April tax season for me, I largely defer to Phil, our portfolio manager, and Alexi, our head of operations and compliance, on market research. However, there has been too much going on and too much to digest to hear...

Tuesday, March 14, 2023

Many of you may have seen the headlines over the weekend regarding Silicon Valley Bank (“SVB”) and two other bank failures. We understand this can bring up memories of 2008, so we wanted to provide further insight into what...

Thursday, March 9, 2023

Retirement planning may be a daunting task, but it is an essential one. The financial security of your old age depends entirely on how much you are saving for retirement in your youth. As such, the most common question on our...

Wednesday, February 22, 2023

You may have heard the good news about 529 Plan rollovers—families can now make a rollover from a 529 Plan to a Roth IRA tax-free starting in 2024. There historically have been taxes and penalties for withdrawing from a 529 Plan...

Thursday, February 2, 2023

As many of you know, I have a personal fascination with cryptocurrencies, and specifically Bitcoin.  It was a rough year for all the world’s blockchains, and the media gets never-ending joy from crypto bloodbaths.  When...

Wednesday, January 11, 2023

Valued Clients & Friends,Happy New Year!  Every year at this time, we like to look back and review the past year.  This year, I am glad 2022 is behind us.  2022 was probably the hardest year I have experienced in the 11...

Tuesday, December 27, 2022

Sam Bankman-Fried, the founder of FTX Trading Ltd., has been indicted on eight criminal charges. These charges include wire fraud and conspiracy by misusing customer funds, per an indictment from the US Southern District of New York....

Saturday, December 24, 2022

I promised to all that you would hear from me first when tax laws change.  Even though these are not exactly presents from Santa, an oath is an oath! Version 2.0 of the Secure Act (“Secure 2.0”) was approved by...

Friday, December 16, 2022

It is that time of the year again…it’s December and time for last-minute tax planning and optimization.   You may typically hear about tax loss harvesting this time of year.  Tax loss harvesting is selling...

Monday, November 14, 2022

Late last week, one of the largest cryptocurrency exchanges, FTX, filed for bankruptcy.  From the sound of it, defrauding investors occurred and jailtime should happen for some of the firm’s leadership.  I have seen a...

Saturday, November 12, 2022

 High inflation will raise more than 50 tax provisions for 2023 including tax rates and standard deductions.  See below for a select summary of Revenue Procedure 2022-38 and Notice 2022-55 which detail those adjustments...

Tuesday, October 4, 2022

Great Tax Planning Meetings Please excuse the informality and shortness of this post.  The 10/15 tax deadline is quickly approaching but I wanted to share a few things on my mind after having a great tax planning meeting...

Monday, October 3, 2022

October 2022 Market Update & Some Reasons for Optimism2022 has been a great year in the sense that we seem to be past the COVID-19 pandemic, but some of our “medical bills” are coming due. Over the last three years, panic...

Wednesday, August 10, 2022

There has been extensive discussion over the last few weeks over an “inverted” yield curve, so what is it exactly?Bonds and yield curves are interrelated. In short, a bond is an agreement stating that if you give a...

Friday, August 5, 2022

Proposed tax law changes in The Inflation Reduction Act of 2022. President Biden’s “Build Back Better” (“BBB”) appeared to be dead months ago.  Perhaps it is dead…but in name only. ...

Tuesday, July 12, 2022

I wrote the majority of this blog post 5 years ago (which might as well be 500 years in the quickly changing cryptocurrency world).  It’s about time we revisit it and update for changing tax rates and law.  Like many...

Saturday, May 14, 2022

Inflation, The War in Ukraine, Deglobalization