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Our Insights

[JULY 02, 2021]
CONTRIBUTOR: ELIZABETH E. EVANS

Forbes, July Stock Market Outlook, July 2021

Halfway through 2021, the U.S. stock market is full speed ahead. The S&P 500 just rose for a fifth straight month, notching its latest all-time high to close out June. The benchmark index is up 14.4% year to date while the Dow Jones Industrial Average and Nasdaq Composite both are up more than 12% each.

While the bulls on Wall Street might be hoping for a second half that’s about as good as the first, the bears are awaiting some catalyst to finally cause the S&P 500 to fall after surging nearly 40% in the past 12 months. And in the middle of that bear-bull debate are strategists who currently forecast that the S&P 500 will end the year just 0.6% higher than where it finished in June, according to the median estimate of a survey conducted by CNBC as of mid-June. [Read more...]

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[JULY 02, 2021]

Evans May Wealth’s Market Outlook, July 2021

https://vimeo.com/569418311/0738b30cf5 [Read more...]

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[APRIL 02, 2021]

Evans May Wealth’s Market Outlook, April 2021

https://vimeo.com/543643466/9842cab1df [Read more...]

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[APRIL 01, 2021]
CONTRIBUTOR: BROOKE V. MAY

Forbes April 2021 Stock Market Outlook

A year after the U.S. stock market cratered in the Covid-19 crash, the S&P 500 ended the month of March at a fresh record high. All in all, the U.S. benchmark index has gained more than 77% in the year since the March 2020 bottom.

Nevertheless, March wasn’t exactly a smooth ride. Concerns about the potential for higher inflation, rising bond yields and the collapse of the investment fund Archegos Capital drove a fair amount of volatility in stock prices. Aside from these worries, the year already is off to a solid start: Both the Dow Jones Industrial Average and the S&P 500 posted a fourth straight quarter of gains, with the two indexes rising 7.8% and 5.8% in the first quarter of 2020, respectively. [Read more...]

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[MARCH 02, 2021]

Evans May Wealth’s Four Tax Tips, March 2021

https://vimeo.com/519592297/1d68d917c1 [Read more...]

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[MARCH 29, 2021]
CONTRIBUTOR: ELIZABETH E. EVANS

U.S. News and World Report, Should Young Adults Really Be Saving For Retirement

A report suggests it’s not a problem for young adults to skip retirement savings, but finance experts aren’t so sure.

Conventional wisdom says workers should begin saving for retirement as early as possible. However, a working paper recently published by the National Bureau of Economic Research suggests that the late 30s or early 40s could be the optimal age for college-educated workers to start funding retirement accounts. [Read more...]

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[MAY 11, 2020]
CONTRIBUTOR: ELIZABETH E. EVANS

Advisor Perspectives, Pandemic Creates More Opportunity for Roth Conversions

COVID-19 makes 2020 a good year for clients to consider a Roth conversion, says leading financial advisor Elizabeth “Lizzie” Evans.

I caught up with Evans, founder and managing partner of Evans May Wealth in Indianapolis, after I heard her speak on April 22 as part of the virtual panel, “The Road to Recovery – How the New Economy Might Look.” Led by Sylvia Jablonski, managing director, capital markets—institutional ETF strategist, at Direxion, it included others who have made names for themselves in the advisory business, including Julia Carlson, CEO and founder of Financial Freedom Wealth Management Group; Jeanette Garretty, a managing director and chief economist at Robertson Stephen Wealth Management; and Carin L. Pai, CFA, an executive vice president and head of equity management at Fiduciary Trust International. The panelists covered a multitude of topics, including the financial advice that they are providing to clients in these troubling times. [Read more...]

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[APRIL 22, 2020]
CONTRIBUTOR: ELIZABETH E. EVANS

Forbes, Why Is Market Up? Because Nearly 80% Think The Pandemic Is A Buy

This coronavirus is a buy.

A large majority of investors surveyed by Investing.com think the pandemic is opportunity knocking. That might explain why the market is still rising in the middle of the worst public health crisis since the Spanish Flu of 1918. [Read more...]

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[APRIL 24, 2020]
CONTRIBUTOR: BROOKE V. MAY

Reuters, Boeing, Intel Pressure Dow as Investors Wary of Economic Recovery

The Dow Jones headed lower on Friday, led by Boeing and Intel, with investors staying cautious about an economic recovery as some states prepared to relax the coronavirus-induced lockdowns.

Boeing Co fell 5.8% after a report the planemaker was planning to cut 787 Dreamliner output by about half, while Intel Corp shed 1.4% on weak second-quarter profit forecast and after it said it could not issue a full-year outlook.

Seven of the 11 S&P 500 sector indexes were trading lower, but the energy index was on still track for its fifth straight week of gains as oil prices recovered after a historic collapse on Monday. [Read more...]

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[APRIL 17, 2020]
CONTRIBUTOR: ELIZABETH E. EVANS

USA Today, It’s Damage Assessment Time for 401(k) Investors

Retirement savers should brace for grim news when they review their first-quarter statements. The first bear market since 2009 shaved 20% off the Standard & Poor’s 500 stock index in the January-thru-March period. That means a $100,000 investment on January 1 was worth $20,000 less on March 31. [Read more...]

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[APRIL 2, 2020]

CARES Act Highlights

The Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law this past Friday (March 27, 2020), giving individuals and businesses much-needed financial reprieve in coming weeks and months. This relief takes shape in multiple forms, from tax credits to loan payment deferrals to rebates.

We have included highlights from the CARES Act below for your reference. Please note there are many other provisions in the CARES Act that may benefit you, especially if you are a business owner.

Tax Return Filing and Payment Due Date Extension to July 15, 2020

The due date for 2019 federal tax return filings and payments has been extended to July 15, 2020. Many, but not all, states have extended their due dates as well. Please refer to your state’s Department of Revenue website for accurate filing and payment due dates.

If you make quarterly estimate tax payments, the 2020 first quarter Federal tax payment deadline has been extended to July 15, 2020, but the 2020 second quarter deadline is still June 15, 2020.

2019 IRA Contribution Deadline Extension to July 15, 2020

The IRS also extended the deadline for 2019 IRA contributions to July 15, 2020. If you have not yet made your IRA contribution for 2019, you have until July 15, 2020 to do so.

2020 Required Minimum Distributions (RMDs) Waiver

Required Minimum Distributions (RMDs) from retirement accounts are waived for 2020. This allows account owners to skip both their 2019 RMD if it was their first year taking RMDs and had not yet made an RMD by April 1, 2020, and their 2020 RMD. In the event a client has taken distributions from their IRA in the last 60 days, they are able to put the amount of the distribution back into the IRA (as an “indirect rollover”) to avoid the tax consequences.

Charitable Contributions Incentive

The CARES Act provides an above-the-line deduction for “qualified charitable contributions” up to $300 for individuals who do not itemize deductions. The CARES Act also increases the income limitations on charitable deductions by suspending the 60% adjusted gross income (AGI) limitation for 2020. Thus, individuals may deduct qualified contributions in 2020 up to 100% of their AGI. Any excess qualified contributions are carried forward to future years in the same manner as other charitable contribution carryovers.

This provision is useful to taxpayers who elect to itemize their deductions in 2020 and make cash contributions to certain public charities. As with the above-the-line deduction, contributions to non-operating private foundations or donor advised funds are not eligible.

Recovery Rebates

Individuals with adjusted gross income (AGI) up to $75,000, heads of household with AGI up to $112,500, and married couples filing jointly with AGI up to $150,000 are eligible to receive recovery rebates of $1,200 individual/$2,400 married. Qualifying children under 17 increase that amount received by $500 each. There is a $50 reduction in the rebate for every $1,000 of adjusted gross income above these caps. The income is based on 2019 tax returns (if filed), otherwise it is based on 2018 tax returns.

Student Loan Payments Suspension

Payments of FFEL (Federal Family and Education Loans) and Direct Loans have been suspended until September 30, 2020. Interest will not accrue while the loan payments are suspended. Additionally, up to $5,250 in employer-paid educational assistance in 2020 will be tax-free to the employer.

Penalty-free Early Retirement Account Distributions

If the owner of an IRA wishes to make a 2020 distribution but has not yet reached 59 ½, they may distribute up to $100,000 from their IRA without being subject to the 10% penalty. Such a distribution may be reported as income over three years beginning in 2020. If the distribution has been repaid into the IRA within the three years, it will not be subject to federal income taxation; in the case that income tax has already been paid on the distribution, the IRA owner can receive a refund for the taxes paid.

Participant Retirement Plan Loans

From March 27, 2020, to December 31, 2020, qualified retirement plan participants may take a loan up to the lesser of 1) $100,000 (normally $50,000) or 2) 100% of their vested balance, and the repayment due date is delayed for one year.

Small Business Administration (SBA) Forgivable Loans for Payroll and Overhead

Small businesses with a maximum of 500 employees that have been significantly and negatively impacted by the Coronavirus may apply for a loan to assist with employee payroll and overhead for an eight-week coverage period. The business may apply for an amount up to the lesser of 1) $10 million or 2) 2.5 times the average total monthly payments for payroll, business mortgage, and overhead for the trailing twelve months. This loan may be used for payroll (up to $100,000 annual salary per employee) and qualified costs such as utilities, rent or business mortgage, and business debt obligations.

At the end of the eight-week period, the business would be eligible for loan forgiveness that is reduced by a 25% or higher employee wage reduction or employee layoffs. Essentially, if, in that eight weeks, the business keeps all employees, doesn’t reduce wages by more than 25%, and spends the loan for allowable uses, the entire loan is forgiven at the end of the eight weeks.

Payroll Tax Credits for Retained Employees

Certain employers affected by the pandemic who retain their employees will receive a credit against payroll taxes for 50% of eligible employee wages paid or incurred from March 13 to December 31, 2020. This employee retention credit would be provided for as much as $10,000 of qualifying wages, including health benefits. Eligible employers may defer remitting employer payroll tax payments that remain due for 2020 (after the credits are deducted), with half being due by December 31, 2021, and the balance due by December 31, 2022.

Additional Unemployment Compensation Benefits

Employees laid off due to COVID-19 will be able to receive an additional $600 per week for up to four months, on top of their state unemployment benefit. Employees who are ineligible for state unemployment benefits or who have already exhausted their state benefit will also be able to receive this assistance. Employees who have reduced hours in lieu of a layoff can also apply for short term compensation.

For more comprehensive information about the CARES Act, we encourage you to read analysis performed by KPMG which can be found here: https://assets.kpmg/content/dam/kpmg/us/pdf/2020/03/tnf-cares-act-mar27-2020.pdf

Securities offered through Sanctuary Securities, Member FINRA and SIPC. Advisory services offered through Sanctuary Advisors, LLC., an SEC registered investment advisor.

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