The devastation caused by COVID-19 has overshadowed two important pieces of legislation that can affect your retirement. Here is a “cheat sheet” so that you can understand the key points that may relate to your situation. As is often the case with congressional law, the details can be complicated, so you should consult a professional […]
Read More… from New Rules: How SECURE and CARES Acts Change Your Retirement
Like most of us, you have probably been more focused on the ramifications of the health aspect of the COVID-19 crisis. But, given the media attention on the economics of the Coronavirus, it is natural to wonder if there is something you or we should be doing regarding your investment portfolio. So we thought it […]
The CARES Act The following is a summary of major provisions of the Coronavirus Aid, Relief, and Economic Security “CARES” Act. The Act is a complex piece of legislation and it covers many areas; our focus will be on how it impacts individuals. We would welcome speaking to you about it and if it might […]
Read More… from Market Commentary: Spring 2020 – The CARES Act
Many earners are in the smart retirement savings habit of making pre-tax contributions to company or individual retirement plans, such as a 401(k), 403(b) or SEP IRA. Strong incentives include a tax deduction for the contribution and often some form of employer match or contribution. Accumulated contributions are then invested, usually in stocks and bonds, […]
TAX DEDUCTIONS AND CHARITABLE IMPACT The Tax Cuts and Jobs Act enacted in late 2017 is more than 500 pages long with detailed changes affecting many areas of the tax code. Aside from the reduction in federal tax rates, most taxpayers will be impacted by the higher standard deduction and changes in itemizing deductions. Here’s […]
Read More… from Market Commentary: Summer 2018 – Taxes and Charity
If you’re over age 70 1/2 and are looking to reduce your taxes while making charitable contributions, you should consider taking advantage of a Qualified Charitable Donation (QCD) from your Individual Retirement Account (IRA) this year. The IRS ruled that charitable donations after age 70 1/2 made from your IRA accounts will be exempt from […]
NEW TAX CUTS AND JOBS ACT The much-touted new tax legislation became law just before the end of last year. The banner headline is a significant reduction in corporate tax rates, however, most of us are wondering how it will affect the “ordinary” taxpayer. One of the stated goals of the Tax Cuts and Jobs […]
Read More… from Market Commentary: Winter 2017 – Tax Cuts and Jobs Act
HEALTH SAVINGS ACCOUNT FOR RETIREMENT Many people don’t realize that a health savings account, or HSA, can be a powerful retirement savings vehicle. The reason is, from a tax perspective, the HSA is unique in that it offers a triple tax benefit: 1. The money you contribute reduces your taxable income 2. Money within an […]
Read More… from Market Commentary: Summer 2017 – HSA as a Retirement Tool
As year-end draws near, the last thing anyone wants to think about is taxes. But if you are looking for ways to minimize your tax bill, there’s no better time for tax planning than now. That’s because there are a number of tax-smart strategies you can implement now that will reduce your tax bill come […]
Read More… from 6 Ways to Ring in the New Year With a Lower April Tax Bill
Many people don’t realize that a health savings account, or HSA, can be a powerful retirement savings vehicle. The reason is, from a tax perspective, the HSA is unique and offers a triple tax benefit: The money you contribute reduces your taxable income. Money within an HSA grows tax-deferred. Withdrawals are tax-free as long as […]
Read More… from 3 Ways Health Savings Accounts Help You Plan for Retirement
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