INVESTMENT COMMENTARY – FIRST QUARTER, 2024

The market had a strong start to the year with the S&P 500 up 10.6%. Macro data has been a mixed bag but indicates a growing economy. This makes it more and more likely that we will avoid a recession despite last year’s Federal Reserve rate hikes. The jobs market continued to chug along, adding more jobs than expected.

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You Filed Your Taxes…Now What?

While many individuals think about taxes only during filing season, the reality is that proactive tax planning throughout the year can significantly impact your finances. Let’s review some key strategies to consider now that your taxes are filed. Take a moment to review your withholding allowances and adjust them if necessary. Life changes such as marriage, having children, or purchasing a home can impact your tax situation, so it's essential to ensure that your withholding aligns with your current circumstances. If you're self-employed or receive income that isn't subject to…

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Filtering Down to a Good Investment

Donaldson Company, Inc. manufactures filtration systems and replacement parts for trucking, industrial and life sciences companies. The filtration systems remove contaminants from air and liquids allowing the equipment to run longer and more efficiently. As a result, the filtration system and the subsequent replacement parts play a key role in ensuring that the equipment or industrial facility is running at peak performance. Replacement parts are 65% of Donaldson’s revenue, reducing revenue volatility despite the cyclical nature of its end markets. Donaldson is adding “smart technology” to its products which can…

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The April Tax Deadline is Around the Corner – Did you Make Your Retirement Plan Contributions for 2023?

As April 18th gets nearer and you are working to both file your tax returns and make estimated quarterly tax payments, don’t forget to ensure you made the 2023 contributions to your retirement accounts. While contributions to most 401(k), 457(b) and 403(b) plans, SIMPLE IRAs (Employee contribution), and Health Savings Accounts had to be made by the end of last year - you still have until April 18th to make a 2023 contribution to IRAs, Roth IRAs, SEP IRAs and Individual 401(k) plans. If you (or your employer) filed a…

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Inherited IRAs: Proceed Cautiously with RMDs

A Required Minimum Distribution (RMD) is the minimum amount individuals must withdraw annually from their own traditional retirement accounts, such as IRAs or 401(k)s once they attain their Required Beginning Date (RBD). This requirement ensures that retirement savings are not indefinitely sheltered from taxation. Distributions from traditional IRAs and retirement plans are usually taxed by the federal and state authorities at the owner’s ordinary income tax bracket in the year of the withdrawal. The annual RMD amount is calculated by dividing the plan balance as of December 31st of the…

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