Nearing retirement? Changing jobs? Recently inherited a retirement account? There are many reasons to consider an IRA rollover, and if you answered yes to any of these questions, there is a good chance you’re a great candidate for this financial move. There are many benefits that come with an IRA rollover, including more investment options, […]
It’s tax season! Every year, around this time, the Internal Revenue Service (IRS) publishes its dirty dozen – a list of scams criminals use to try and ferret out personal information and/or steal money.1 For example, if you received an email from a top executive in your company or organization requesting data from IRS form […]
You’ve probably been told that one of the smartest financial moves to make is investing in your future by maxing out your retirement plan contributions. Traditional IRA and Roth IRA investors have had the same $5,500 limit for years, with a $1,000 catch-up contribution option for those 50 years of age or older. However, there […]
Leaving a Legacy: 3 Differences Between Life Insurance and Roth IRAs If you’re planning on leaving a legacy for your children, grandchildren, or loved ones, you may be wondering how to do so in the most tax-efficient way. Both life insurance and Roth IRAs allow you to transfer assets from one generation to the next, […]
With evolving legislation working towards establishing a uniform fiduciary standard in the financial industry, you may be wondering if your financial advisor is prioritizing your best interest. IRAs, Roth IRAs, and other retirement accounts are ruled by constantly changing, complex laws, but working with a qualified, educated financial advisor can help you successfully navigate retirement. […]
Taxes and retirement go hand in hand, and having a clear understanding of how your retirement assets will be taxed plays a crucial role in your overall financial plan. Proactive tax planning can help structure your retirement income and investments to take advantage of current tax laws, while avoiding costly pitfalls. Thanks to low inflation, […]
Have you recently inherited an IRA as a non-spouse beneficiary? If so, then you will soon be required to determine exactly how much will need to be taken as your first required minimum distribution. There are ways to “stretch” the tax benefits of these accounts by leaving them in an IRA as long as possible; […]
Have you missed the 60-day deadline for your IRA rollover? Fortunately for you, the process to fix your error is now much easier (and cheaper) thanks to a new option that the IRS made available in 2016. The new self-certification process is available to all qualifying IRA or employer plan owners and provides a cost-effective […]
Choosing the Right Tax Professional in 5 Easy Steps Managing taxes during retirement might be the single most important factor influencing your retirement lifestyle. As you transition from working for an income to withdrawing income from your savings and investments, you might have questions: How can I maximize my income while minimizing income taxes in […]