This article ran in the March 2022 issue of the Traverse City Business News and can be read in its entirety below. Black Walnut Wealth Management contributes articles and is featured in various media outlets....
3 Hidden Costs of Waiting Too Long to Start Your Estate Plan
Estate planning is an essential part of any financial plan, but it’s often the last piece that people tackle. In fact, only 44% of adults age 55 and older have an estate plan. That means...
Are Capital Gains Taxes Changing?
There are a lot of questions about the Build Back Better plan and potential tax law changes, including an adjustment to capital gains taxes. One of the proposals Congress is considering sets the top rate...
Estate Planning Awareness Month: Rethink These Estate Strategy Myths
Did you know that October is National Estate Planning Awareness Month? The importance of proper estate planning shouldn’t be understated, as it can be a lasting gift for your loved ones after your passing. The...
Required Minimum Distributions for 2021: Here’s What’s Changing
The CARES and SECURE Acts offered financial relief to American families during COVID-19. And though some of the benefits of these acts are no longer in effect, some of the rules became permanent in 2021....
Managing a Windfall: How to Be a Good Steward of Your Inheritance
Receiving an inheritance comes with a mix of emotions. You may be grieving the loss of a loved one while feeling overwhelmed with the responsibility of managing a recent windfall. No matter the size of...
Tax Strategies for High Earners
Preparing a strategy that is both advantageous and tax-efficient might feel daunting at first. Thankfully, there are some things you can do now to keep from overpaying this tax season. Build Your Team of Professionals...
Are you an MD? Create Your Financial Plan While Considering These Five Factors
Medical professionals spend their lives caring for others, but that doesn’t mean their own financial well-being should be left on the backburner. From the moment a doctor earns their MD to the day they hang...
Planning Inheritances for Your Children
As a parent, it can be difficult to sleep soundly knowing that your children are not financially stable, no matter what their age. That’s why you should start thinking about estate planning. Estate planning is...
A Federal Wealth Tax Was Introduced in the Senate. Here’s What Affluent Families Need to Know
Several U.S. senators have proposed new legislation to raise $3 trillion in tax revenue over the next decade. Called the Ultra-Millionaire Tax, the proposed legislation comes in response to the economic turmoil Americans have experienced throughout...