Most of us, thankfully, only know what a bank run looks like from movies and television, most famously from the film It’s a Wonderful Life, a holiday staple of broadcast television in the past. George Bailey (played by Jimmy Stewart), desperate as a young man to leave his hometown of Bedford Falls, is waylaid in […]
The announcement today that the FDIC has become the receiver for Silicon Valley Bank is a useful reminder that significant bank failures occasionally do occur and that as depositors we all should pay mind to the $250,000 ceiling on FDIC insurance. We recommend that clients keep each account below the insured ceiling at their banks […]
Just over three years ago Congress passed the most consequential retirement law in decades. Among other things, the original SECURE Act of 2019: Made retirement plans more accessible to more people. Increased the potential tax benefits of saving inside a qualified plan by raising the age when required minimum distributions (RMDs) kick in. Eased concerns […]
Seattle, February 23, 2023—Kutscher Benner Barsness & Stevens principal Cameron Barsness was named among the Top Women Wealth Advisors Best-In-State for Washington in a 2023 list of advisors compiled by Forbes in partnership with SHOOK Research, which is the only advisor ranking firm to focus on quality. This is the seventh annual list of Forbes/SHOOK […]
Gift and estate taxes apply, in certain cases, to large gifts made by a person during their lifetime or by their estate after their death. One critical purpose of financial planning is minimizing the impact of gift and estate taxes. Every year, the IRS adjusts amounts exempt from federal gift and estate taxes to consider […]
The turn of the year marks the start of many rituals. In our financial planning practice, we report to clients and their tax accountants about their investment income and expenses in the previous year. And of course, we write letters like this one summarizing the year past in financial markets and giving reflections and observations […]
This year January 15 falls on a Sunday, and the next day we recognize the birthday of Dr. Martin Luther King, Jr. This shuffles the IRS’ due date for estimated tax payments to Tuesday, January 17. Payments due are for the period September 1 to December 31. (Yes, that’s not a calendar quarter! Here’s a […]
Maritime metaphors abound in the financial space, including some of our own in reference to Ted Kutscher’s paintings. Schwab, in its 2023 outlook, has a nicely phrased one: Cross currents continue to rock the economic boat, even though we believe a brighter year is on the horizon. In January, we’ll send our own review and […]
KBBS Financial principal Cameron Barsness was published in the December 2022 issue of Green Money Journal. Her article, “Building Trust Through Authenticity,” includes personal examples across four categories: care, sincerity, reliability and competence. Cam writes: “To serve clients well, we must gain their trust. We then nurture and maintain that trust by delivering outstanding client experiences in […]
For a Q4 magazine cover story, Morningstar’s Leslie Norton—formerly a longtime Barron’s reporter—spoke with KBBS Financial principal Cameron Barsness for a new article on why, in Norton’s view, “ESG and sustainable investing are here to stay.” In the “Spotlight” feature, Norton quotes Cam sharing about how, at KBBS, client interest propels the conversation and leads […]