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Charitable Contributions: Giving Thanks

With the holidays upon us, it's time to think about giving. Not just to family and friends, but to charitable organizations that qualify for tax deductions on your tax return. If you itemize your deductions on Form 1040, Schedule A, you can deduct contributions to qualified organizations, including religious, charitable, educational, scientific, and literary groups.

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Take a Bite Out of Taxes: Five Tax-Savvy Strategies

While it's likely you've experienced the effect taxes can have on your income, are you aware of the impact they can have on your investments? If not, you may want to speak with your tax advisor and qualified financial professional, and then consider the following strategies:

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Resolve to Fulfill Those Resolutions

They are an end-of-year tradition. We arrive at them when we look back and take stock of our accomplishments and challenges of the past year and look ahead to the coming new year with a sense of hope, renewal, and promise. They are our New Year's resolutions. Most of us have no trouble making New Year's resolutions each year. The difficulty comes with actually sticking to them. Here are some of the more common resolutions and some tips to help you follow through with them:

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7 Ways to Survive the Holiday Spending Season ... Debt Free

As the traditional giving season approaches, there is one important item to add to your to do list: Create a holiday budget. Before the gift shopping and wrapping begins, take control of your wallet through financial preparation. Remember, you can avoid the credit card crunch and the dangerous pitfall of borrowing against your company's retirement savings plan or IRAs.

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Asset Protection in Litigious Times

Millions of lawsuits are filed in United States courts each year, costing billions of dollars in legal expenses to individuals and businesses. Wealthy individuals in certain professions -- such as doctors, lawyers, and accountants -- as well as company executives and board members at public companies are increasingly the targets of such litigation.

As a result, more and more categories of individuals and families are seeking ways to protect their assets from potential creditors as part of their overall estate planning efforts.

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Talking Turkey Safety

That time of year is once again upon us. When Americans gather around the table with friends and family members to feast and give gratitude for the annual tradition that is Thanksgiving. But before you come to the table with your turkey platter and gravy, take a moment to read these turkey preparation and safety tips from the United States Department of Agriculture:

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Three Tips for Holiday Shopping with Credit Cards

The holiday season is in full swing. As you join the ranks of Christmas shoppers, you'll find plenty of ways to spend your hard-earned money. Using a credit card makes shopping easy; so easy, in fact, that many Americans will spend too much this month. Yet Christmas shopping does not have to lead to credit card debt. This year, you can take steps to avoid a gloomy credit card statement in January.

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Considerations for Inherited Retirement Assets

Your options in managing assets that you inherit from a loved one's qualified retirement plan may depend on the type of retirement plan in question -- for example, 401(k)/403(b) plan or IRA -- and your relationship to the deceased.

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Holiday Budgeting Tips

As the shortest days of the year approach, we have the inevitable diversion of the holiday season to distract us until the days begin to gradually lengthen. Whether you celebrate Christmas, Hanukkah, Kwanza or the general holiday season chances are you'll be spending money on things that are outside your regular budget. Here are some tips for spending smart.

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Short-Term Rolling GRATs: Wealth Transfer Vehicles That Cover More Ground

Short-term rolling GRATs (grantor retained annuity trusts) have the potential to exploit fluctuations in market conditions while delivering on their key objective of transferring wealth in a tax-advantaged manner. Following is a discussion of the possible benefits of using a rolling GRAT strategy to fulfill your wealth transfer goals.

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Year-End Tax Planning Strategies for 2014

With December 31st approaching quickly, there is a short window of opportunity to implement tax strategies for calendar year 2014. You may be wondering how to get started. Are there any deductions or provisions in the tax law that may help you save? And, if so, how would you put these in motion?

To help put you on the path to year-end tax planning, we’ve compiled a list of ideas and strategies for you to discuss with your advisor, who is familiar with your circumstances and can help you make informed decisions.

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The opinions expressed in this newsletter are those of the author and may not reflect those of The Washington Trust Company. The information in this report has been obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. Any opinions expressed herein are subject to change at any time without notice. Any person relying upon this information shall be solely responsible for the consequences of such reliance. Performance is historical and does not guarantee future results.

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System Maintenance

December 21, 2014
10:00 PM - 11:00 PM

Due to system maintenance, Online Banking and Mobile Banking will be unavailable on Sunday December 21, 2014 between the hours of 10:00 PM and 11:00 PM