Inheriting an IRA

Inheriting an IRA

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...
IRS increases 401K contributions

IRS increases 401K contributions

There is some good news for your retirement planning. If you have an employer-sponsored 401(k) retirement plan, or any of a number of similar plans, you’ll be able to increase your annual contribution this year by $1000, as part of the federal government’s scheduled...
4 Strategies to reduce taxes in retirement

4 Strategies to reduce taxes in retirement

So, you’ve done all the right things to prepare for retirement and now it’s time to ensure that the right tax strategies are in place to protect those assets you’ve worked so hard for. While payouts from some retirement accounts, such as traditional IRAs, are taxable,...
Estate Planning Primer Part 3: Goals & Strategy

Estate Planning Primer Part 3: Goals & Strategy

If it’s time for you to retire or you’ve begun considering that life change, it’s very important that you develop a strategy that will meet your estate planning goals and outline how your legacy assets will be managed for your heirs. For financial planning purposes,...
Is 2020 the year for Roth conversions?

Is 2020 the year for Roth conversions?

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...