To Roth or Not to Roth?

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, […]

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Willow Creek Commentary: Summer-2018

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 […]

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Good News for Philanthropic IRA owners

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 […]

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Willow Creek Commentary: Winter-2017

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 […]

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Willow Creek Commentary: Summer-2017

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 […]

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Harvest Time for Tax Savings

As the end of 2015 approaches, a window is still available for tax savings. Here are a few ideas to help reduce your tax bite. TAX LOSS HARVESTING A popular strategy called tax-loss harvesting should be considered.  The stock market has been rough this year, with  various investment asset classes showing negative returns. If you […]

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