Tax Planning
What are the Benefits of a Stepped Up Basis?
A stepped up basis is an adjustment to an asset’s cost basis to the fair market value of the asset at the time of the decedent’s death.
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Tax Planning
Social Security Taxation
Social Security income is designed to replace a percentage of a worker’s pre-retirement income in order to get them through retirement securely. While the significance of Social Security may differ with each retiree’s circumstances, it is nevertheless important to understand…
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Financial Planning
Tips for Preventing Fraud
Cybercrime and fraud are serious threats and constant vigilance is key. While MCF plays an important role in helping protect your assets, you can also take action to protect yourself and help secure your information. This checklist summarizes common cyber fraud tactics, along…
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Tax Planning
A Look into Tax Loss Harvesting
Tax Loss Harvesting is a term that gets thrown around frequently in the wealth management industry, but is infrequently accompanied by a definition, purpose, or real-life examples. Let’s look at what tax loss harvesting is, why it is important, and one example to help…
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Financial Planning
Why it is Important to Know and Update Your Net Worth
By: Brittany B. Manning, CPA, CFP®, Director of Wealth Management Services Most of us know that net worth, or a personal financial statement, is a report that summarizes what we own and what we owe. But why do we spend time updating this report with our advisor and inquiring…
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Tax Planning
MCF Insights: Tax-Efficient Investing
Taxes are a reality of life. As a result, taxes should be included in the evaluation and construction of any portfolio plan. Investors that ignore the effect of taxes on investments may end up paying higher taxes and earlier than needed.
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