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January Quarterly Newsletter - 2023

Highlights of this Newsletter:

  • LVM is celebrating its 35th anniversary in 2023!

  • TD Ameritrade acquired by Charles Schwab

  • Tax topics to discuss with your CPA

  • Check out our latest podcast on the LVM website or scan this code.

Fundamental Factors of Investing Part 3: What is the Growth Factor?

LVM is celebrating its 35th anniversary in 2023!

Save these dates to come celebrate with us:

Wednesday, March 22, at LaPlaya Golf Club in Naples, FL

Thursday, June 29, at the Air Zoo in Portage, MI

TD Ameritrade acquisition

TD Ameritrade is being acquired by Charles Schwab and, as a result, the accounts will be transitioning on Tuesday, September 5, 2023.

Schwab’s 2018 acquisition of TD Ameritrade will now be consummated with the move of TD Ameritrade accounts to Charles Schwab on Labor Day 2023. If you are presently a TD Ameritrade customer, you will soon become a Schwab customer.

Schwab is committed to not having TD Ameritrade customers sign new account opening forms — all accounts at TD Ameritrade will be ported with existing positions to the Schwab platform electronically. Existing customers of TD Ameritrade will access their accounts at, which will replace the TD Ameritrade website ( following the Labor Day conversion. We anticipate that clients who have created linking authorizations to view their spouse's accounts will have to re-authorize the privilege to view on the system.

LVM’s ability to trade and report on clients’ accounts will not change. We do not anticipate interruptions in service to our clients. But given the changes, we are encouraging clients to complete their Required Minimum Distributions (RMDs) and Qualified Charitable Donations (QCDs) before August 1, 2023, in order to reduce the potential for procedural or administrative issues.

Your LVM Portfolio Manager and Client Relations Officer are available to answer any questions you have.

Tax Topics to Discuss with Your CPA

Charitable gifts

Did you make any charitable gifts in 2022? If so, discuss with your CPA specifically what type of gift was made.

Gifts of cash are treated differently than gifts of appreciated stock.

Cash gifts up to 60% of your Adjusted Gross Income (AGI) can be deducted, while a deduction of long-term capital gain property is limited to 30% of AGI. If you are not itemizing your deductions, there may still be an opportunity to deduct a portion of your cash gifts (up to $300 for single filers and $600 for married filing jointly).

Was your gift given out of your IRA?

Taxpayers over the age of 70 ½ are allowed to exclude from taxable income (not deduct) $100,000 worth of gifts given directly to charity that otherwise would have been claimed as income. This is commonly referred to as a Qualified Charitable Donation (QCD). This will NOT be apparent on the 1099 that you receive at the end of the year. Year-end 1099s will show total withdrawals from your IRA and will not explicitly state that part or all of this distribution was sent to a charity.

It is possible to have both charitable itemized deductions and a QCD in any given year (subject to AGI limitations).

Roth IRA conversions

If you converted pre-tax IRA dollars (money you put into an IRA at some point and received an income deduction for the contribution), the conversion of these dollars to a Roth IRA will be taxable.

If you converted post-tax IRA dollars (commonly known as a “back-door Roth conversion” wherein you did not receive a deduction for your IRA contribution), your conversion will not be subject to income tax if you have no other pre-tax dollars in an IRA. Employer sponsored 401(k) plans and the like do not count.

529 contributions

Depending on your state of domicile, you may be entitled to a state tax credit for contributions made; therefore, let your tax preparer know if you made a contribution to any 529 plan.

Tax-loss harvesting

Check out our latest podcast on the LVM website or scan this code: : ment at a loss to offset taxes owed on an investment sold at a profit. Also, you can deduct $3,000 of capital losses against your income annually. If your losses exceed

owed to carryforward those losses to future years to offset future capital gains. If you have a loss carry forward, make sure to share the data with the LVM team to potentially reduce large unrealized gain positions that have become an outsized position in your investment portfolio.

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