Wealth Management Newsletter | All posts archived in 'May 2019' — Page


From monthly archives: May 2019

We are pleased to present below all posts archived in 'May 2019'. If you still can't find what you are looking for, try using the search box.

How Charity Can Benefit your Family and Society When it’s Time to Sell your Business

Originally published in the LA Business Journal An exit strategy for any business owner is just as important as the plan that keeps the business running and profitable. For closely-held businesses, deciding whether to sell and to whom is essential. There are also important considerations that have real and lasting financial and tax consequences, not only to the business but also to the business owner and his or her family. For California business owners, selling can trigger a significant taxable event, which can include as high as a 37.1% tax bill right off the top between federal and state taxes. That significant tax liability ultimately means less money to you and your family. The good news is that for those business owners who are charitably inclined and want to leave a lasting legacy, certain strategies can not only be beneficial to your family, but to society as well. When making a decision to possibly sell and entertain an offer of purchase, it’s important to understand that once an e ...

Nuts and Bolts: How to Roll Over Your Employer Retirement Plan Assets

There are two types of rollovers: direct and indirect. A direct rollover is paid from your plan directly to your IRA or to your new employer’s retirement plan. The funds are never payable to you. An indirect (60-day) rollover is a payment made to you that you later roll over to an IRA or an employer retirement plan.1 When you request a distribution from your employer’s 401(k), 403(b), or governmental 457(b) plan that’s eligible for rollover, you’ll receive a statement describing the tax rules applicable to your distribution and your rollover options.2 You should read that statement carefully. There are two major disadvantages to indirect rollovers. First, your plan is required to withhold 20% of the taxable portion of your payment for federal income taxes. You’ll get credit for that amount when you file your federal income tax return, but if you want to roll over the entire distribution, you’ll have to come up with the 20% that was withheld from other sources. Sec ...

Market Month: April 2019

The Markets (as of market close April 30, 2019) As April came to a close, each of the benchmark indexes listed here posted strong monthly returns. In fact, for several of the indexes, April brought to a close the best four-month stretch in many years. Both the Nasdaq and S&P 500 reached new highs during the month, as investors were encouraged by a shrinking trade deficit, favorable economic projections, low inflation, and stable interest rates. The Nasdaq led the way, nearing a monthly gain of almost 5.0%, followed by the large caps of the S&P 500, the small caps of the Russell 2000, the Global Dow, and the Dow, which gained over 2.5% for the month. During April, consumers saw gas prices climb as oil prices continued to soar. By the close of trading on April 30, the price of crude oil (WTI) was $63.42 per barrel, up from the March 29 price of $60.19 per barrel. The national average retail regular gasoline price was $2.887 per gallon on April 29, up from the March 25 selling price of $2.623, and ...




All First Bank blog information and content is strictly informational. It is not intended to be specific investment, tax, or legal advice. If you need detailed financial, investment, or tax advice, please contact a First Bank qualified professional. Please note, First Bank occasionally shares third-party content we find to be relevant and helpful to our audiences.