Insights

As we enter the new year, we highlight key IRS inflation-adjustment changes for 2024. Here is what you need to know: The IRS has released inflation adjustments for over 60 tax provisions for the 2024 tax year.

If ever there was a reminder to avoid market timing and stay invested in accordance with one’s long-term goals, 2023 was it! Twelve months ago, few, if any, investors predicted such significant gains for stocks in 2023.

Following a difficult year in 2022, the bond market rebounded in 2023. As the year progressed, the Fed finally paused its aggressive rate hiking campaign and appears set to ease in the year ahead.

The U.S. economy proved resilient in 2023, defying predictions of a contraction. Despite the sharp rise in interest rates during the year, growth accelerated to 5.2% (annualized) in the third quarter, ahead of expectations for 4.9% growth, while inflation fell closer to the Fed’s long-term 2% target.

“Set it and forget it” does not mean completely forget it. If you have been meaning to do something about your 401(k) from your old job, you are not alone. Over the span of an entire career, people change jobs more than you might think.

On October 4, 2023, Massachusetts Governor, Maura Healey, enacted comprehensive tax legislation that will modify a wide range of Massachusetts tax laws, including those related to estate tax.

This time of year can prompt us to think about how we can give back to our communities. With requests on “Giving Tuesday” and end-of-year appeals from worthy nonprofit organizations, we know it’s tough to decide how to make the most of your charitable giving.

Significant changes are coming for Bay State taxpayers in 2023 with the implementation of the “millionaire’s tax” and the long-awaited deduction for charitable contributions.

After a strong sell-off in 2022, bonds now offer much higher returns.  We see limited downside risk in short- and intermediate-term bonds, as the bias towards rates is now to the downside.