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Author: Adam Scott, CFP®

Why Millennials and Others Shouldn’t Buy a House Right Now

millennial homeownership

For many people, Millennials included, buying a home is a rite of passage. Though Millennials tend to be a misunderstood generation, the American dream is alive and well with them. Since many are growing their families, homeownership is top of mind.

While we completely understand the desire to own a home, below we’ll review why we believe it may not be the right time to take the plunge, unless buyers intend to stay in the same house forever.

homeownership, millennials

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British Expats: What to Do Before You Say ‘I Do’

british expats
Options for Getting Your Green Card and Remaining in the U.S.

To paraphrase Truman Capote, love knows no geography.

If you’re a British expat reading this article, then you are likely hoping to marry your American sweetheart and remain in the United States. If your goal is to go through the immigration process and get your green card, i.e. obtain permanent residence, you have three main options:

  1. K-1 fiancé(e) visa
  2. I-130 Petition for Alien Relative filed in the U.S. (either with or without a K-3 nonimmigrant visa)
  3. I-130 Petition filed in London

The information that follows, though helpful, should not be construed as legal advice tailored to the specifics of your legal situation. If you require more specific legal advice, you should contact a U.S. immigration lawyer.

british expats

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How Sole Proprietors Can Minimize Their Self-Employment Tax Burdens

sole proprietors
Four Strategies for Managing the Self-Employment Tax

When you’re working as a sole proprietor, you are both the employer and the employee. While it’s a business model that can offer you the benefits of flexibility and control, there are also important self-employment tax implications.

Consider, for example, that all workers must pay into Social Security and Medicare. For typical workers, this means they split that cost with their employers, each paying 7.65% of the employee’s eligible wages. Sole proprietors don’t have the benefit of splitting the cost with an employer, meaning they must pay both halves – 15.3% of earned income. This is referred to as the self-employment tax, and there’s quite a bit you should know about it – both to follow the letter of the law, and to minimize your tax burden as a sole proprietor.

independent contractor, small business, sole proprietor, Tax planning

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Presidential Elections and Your Investment Success are Not as Related as You May Think

Election Anxiety Investment

Five Tips for Moving Forward if You’re Anxious About Your Portfolio in an Election Year

Are you concerned about what the presidential election may mean for the markets? If so, you’re not alone. Investors always tend to get anxious in an election year, and this one seems fraught with quite a bit more angst and uncertainty than usual. Still, if you’re tempted to get out of the market for a while and let things “blow over,” we suggest you take a beat.

Here’s why: Much of what we hear in the news, or even in conversations among our family and friends, can lead us to believe that there is a strong correlation between who sits in the White House and how the markets perform. Many people are convinced their investment prospects will be sunk if one candidate or the other wins this election, but that’s simply not the case. History and market data show no correlation between the person/party of the U.S. President and the success or failure of the stock market.

So, if you’re facing serious investment anxiety because of this election, below are five tips to help you move forward into the unknown with a bit more confidence.

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Taxes Abroad: Claiming Foreign Taxes

taxes abroad
A Primer on How to Be Tax-Smart with Your Foreign Income

Do you own stocks, bonds, or mutual funds? If so, you may well have some foreign holdings such as BMW (German), or BP (British), or Nestle (Swiss). This means you have paid foreign taxes on the income you earned. Would you like to avoid being taxed on that income a second time? You may be able to accomplish this goal if you claim a credit or deduction on your U.S. tax return. Don’t count on your tax preparer or preparation software doing this optimally for you.

The information below applies to almost all U.S. investors since most hold foreign stocks in their U.S. mutual funds. Read on to learn how to be more tax-efficient with your foreign income.

cross-border, taxes

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WellAcre Global Wealth Advisors is a Registered Investment Adviser. Advisory services are only offered to clients or prospective clients where WellAcre Global Wealth Advisors and its representatives are properly licensed or exempt from licensure.  This website is solely for informational purposes.  Past performance is no guarantee of future returns. Investing involves risk and possible loss of principal capital. No advice may be rendered by WellAcre Global Wealth Advisors unless a client service agreement is in place.