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Is 2020 the year for Roth conversions?

Is 2020 the year for Roth conversions?

by | Oct 28, 2020 | Retirement

Federal tax rates went down with the Tax Cuts and Jobs Act of 2017, but those cuts are already set to expire in 2025. And there is broad support among Democrats for repealing tax cuts before their expiration.  Let’s face it. There is a strong likelihood that your tax...
When should I take Social Security?

When should I take Social Security?

by | Jan 25, 2019 | Retirement

It’s a question that’s on the minds of many of our clients. When is the best time to begin collecting Social Security benefits?  While the question may be common, the answer is a highly individualized one that depends on each person’s circumstances. In this blog post,...
Is My Military Pension Taxed?

Is My Military Pension Taxed?

by | May 22, 2018 | Retirement, Taxes

Whether or not your pension is taxed depends on the type of pension—years of service or disability—and the type of tax—federal, state, or social security. The Federal Government and Military Retirement Pay If you’ve spent twenty or more years in military service,...

Cashing Out Your Retirement Plan

by | May 1, 2018 | Retirement, Taxes

The customary advice about cashing out your retirement plan early is: don’t. There are very few situations that would make it financially worthwhile. A standard IRA or 401(k) provides before-tax contributions and tax-free compounding, deferring taxes to retirement. A...

Planning for Tax Exposure in Retirement

by | Mar 30, 2018 | General, Retirement

You picture life in retirement. You’ve saved and invested. Your financial life is simple and uncomplicated. While this is a dream for many, it can also turn out to be a mirage. The truth is that your tax and financial picture may become more, rather than less,...