Market Recap – September Major Benchmark Returns in September 2024 & Year-To-Date Déjà vu? September got off to a rough start as concerns about a slowing economy triggered a sell-off in growth stocks. Then, the Fed’s bigger-than-expected 50-basis point rate cut powered the Dow Jones and S&P 500 into record territory. Investors should pay attention […]
Summa Global Quarterly Newsletter – January 2024
Click here to download the PDF version of the newsletter. In This Issue: Bulls and Bears Welcome to the new year! Wall Street has released their 2024 S&P 500 targets, found on the chart below. In retrospect, 2023 S&P targets ranged from 3,400 (BNP) on the low end to 4,500 (Deutsche Bank) on the high […]
The Biden Tax Proposal: Three Trillion, Two Magic Numbers, and One Seismic Wave
By the time you are reading this, we are about two weeks away from what is expected to be the most contentious (and even potentially controversial) presidential election in recent history. Polls are pointing to a victory for Joe Biden, along with a “blue wave,” but as we have learned over the last few years […]
Charitable Planning in the New Tax Reform Era
Starting this year, standard deduction will almost double (Table 1), although personal exemption is eliminated. It is estimated that only 1 in every 10 returns will benefit from taking the itemized deduction, versus 30% of all returns that itemized, based on 2013 IRS data.1 Moreover, the $10,000 ceiling on state-and-local-taxes (SALTs) further reduces the need […]
