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Industry Insights Index

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June 19, 2019
Calculating an IRD Deduction

Have you recently inherited a loved one’s retirement assets? You should know that there is an income tax deduction available to you called the income in respect of a decedent, or IRD, deduction. When certain inherited assets are hit with both federal estate and income tax, this deduction can help offset the impact. Your IRD […]

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May 29, 2019
Where There's a Will, There's a Plan

Throughout history people have made inheritance choices that are inexplicable to others. In 1926, Harry Houdini left his magical equipment to his brother, his pulled-from-the-hat rabbits to the children of friends, and a series of random words to his wife. The words were a code that would let her know when he was in touch […]

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May 21, 2019
Contributing to an HSA - 2019

The increasing costs of healthcare is one of the top concerns among Americans today. One option to consider to help pay for these costs is to take advantage of tax-advantaged savings specifically for health expenses through a Health Savings Account (HSA). HSAs offer three different tax advantages: 1) Contributions are deductible 2) Earnings are tax-deferred […]

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May 14, 2019
Avoiding Non-Spouse Beneficiary Mistakes

As the beneficiary of an inherited IRA, you might be aware of some rules that come with these retirement accounts. However, are you also aware that the rules vary depending on whether you are a spouse, a nonspouse or a trust beneficiary? From required distributions to even the titling of the account, understanding the differences […]

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April 23, 2019
Fixing Rollover Mistakes with Self-Certification

If you recently withdrew money from your retirement account with plans to execute a 60-day rollover but missed your deadline, you may be worried about the consequences. We get it.  Life happens, and fortunately, the IRS understands this too! If you missed the 60-day deadline for completing an IRA rollover due to an error or […]

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April 16, 2019
Using IRAs to Help Children

Looking for a way to secure a financially stable future for your child? An IRA may be the solution! There is no minimum age for having an IRA and, as long as your child has earned income, you can open an account in their name.  Your child can contribute to their IRA with their own […]

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March 12, 2019
2019 Retirement Plan Contribution Limits

Maxing out your retirement account contributions can be a smart financial move not only to help reduce your tax bill, but also to work towards the goal of setting aside enough money for the future. But do you know how much you’re allowed to contribute? Contribution limits can vary greatly depending on the type of […]

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February 19, 2019
Navigating Health Care Taxes

Chances are you have heard about the 3.8% surtax that went into effect in 2013 under the Affordable Care Act—but do you know if and when you might need to pay it? While there have been significant changes to the tax code over the past year, the Medicare tax and net investment income tax remain […]

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November 27, 2018
How are Social Security Benefits Calculated?

Social Security planning often focuses on filing strategies to help determine when and how to take your benefits. But before you make any decisions, you should also consider the tax implications your Social Security benefits will have on your overall retirement plan. If you have additional sources of income in retirement, there is a chance […]

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