Inheriting an IRA presents a number of choices for the beneficiary. Whether it’s a Roth or Traditional IRA, the rules surrounding the inheritance can be complicated and your decisions can have a significant impact on your financial planning. When the so-called “stretch IRA,” was virtually eliminated by passage of the 2019 SECURE Act, beneficiaries of[…]
How to choose the right life insurance
By diamondcpas Estate Planning, Personal Finance Feb 03, 2021
Life insurance is an investment vehicle that provides your family with financial security and peace of mind once you are deceased and no longer around to take care of them. In addition, if you are a business owner, life insurance can provide your business with the resources necessary to sustain continuity or to recover from[…]
If you, or someone you know, are headed to college, be sure to familiarize yourself with FAFSA – Free Application for Student Aid. Regardless of your family’s income, everyone should complete the form, and the sooner, the better, according to financial advisors and college admission officials. The application became available Oct. 1 for the 2021-2022[…]
Anyone who already took a required minimum distribution (RMD) this year from certain retirement accounts now has more time to roll that money back into the savings plan, according to the Internal Revenue Service, which recently announced that the CARES Act RMD waiver has been extended until August 31, 2020. “The 60-day rollover period for[…]
Most people are familiar with the term FICO score – that’s your credit score -and it can have an enormous impact on one’s life, affecting your ability to buy a home, a car and much more. So, it’s worth noting that changes are coming this summer to the scoring system, used widely by credit agencies[…]