by Curtis | Oct 5, 2021 | Financial Planning, Retirement, Taxes
IRAs were created in 1974 under the ERISA legislation. This established minimum standards for company pension plans. The legislation was a way for individuals not covered by those company plans to access tax-advantaged retirement savings. The rules have changed over...
by Curtis | Sep 27, 2021 | Retirement, Taxes
When planning for expenses in retirement, it’s easy to begin thinking about travel and vacations while overlooking one significant expense: taxes. In Nationwide’s 2021 Retirement Income Survey, 41% of retirees surveyed reported wishing they had been better prepared...
by Curtis | Sep 23, 2021 | Taxes
Both tax credits and deductions reduce your tax bill. Deductions reduce your income, which in turn reduces your taxes. Credits directly reduce the taxes that you owe. Understanding the differences between them can help you make sure you’re paying the least amount of...
by Curtis | Sep 20, 2021 | Estate Planning, Retirement, Taxes
Planning for a time when you’re no longer around is hard. The most important thing is being able to continue to protect the people you love. Beyond that, a growing number of people are interested in leaving a philanthropic legacy. According to a recent survey, the top...
by Curtis | Sep 15, 2021 | Financial Planning, Retirement, Taxes
The Roth IRA isn’t usually associated with high earners because of income contribution limits. There is a multi-step strategy that can be used to get money in a Roth. A Traditional IRA can be converted to a Roth IRA even for those who exceed the Roth contribution...
by Curtis | Sep 7, 2021 | Financial Planning, Taxes
Donor-advised funds have been around for decades. Over the last several years, they’ve become popular vehicles for charitable giving. They offer immediate tax benefits as the assets contributed to the donor-advised fund convey an immediate tax deduction in the year...
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