Ready, Set, Retire
Have you given any thought to your retirement? Even if you don't expect to retire anytime soon, the earlier you start planning how you'll transition from work to retirement, the [...]
Retirement Account Catch-up Contributions Can Add Up
If you’re age 50 or older, you can probably make extra “catch-up” contributions to your tax-favored retirement account(s). Is it worth the trouble? Yes! Here are the rules of [...]
Four Tax Challenges You May Encounter If You’re Retiring Soon
Are you getting ready to retire? If so, you’ll soon experience changes in your lifestyle and income sources that may have numerous tax implications. Here’s a brief rundown of [...]
SECURE 2.0 Law May Make You More Secure in Retirement
A new law was recently signed that will help Americans save more for retirement, although many of the provisions don’t kick in for a few years. The Setting Every [...]
Maximize Social Security Benefits When You Retire
Get the most from Social Security. Younger retirees face a harsh penalty for working part-time. For every $2 earned over $18,960 in 2021 (up from $18,240 in 2020), you lose $1 [...]
Retiring Soon? 4 Tax Issues You May Face
If you’re getting ready to retire, you’ll soon experience changes in your lifestyle and income sources that may have numerous tax implications. Here’s a brief rundown of four tax and [...]
Retiring Soon? Recent Law Changes May Have an Impact on Your Retirement Savings
If you’re approaching retirement, you probably want to ensure the money you’ve saved in retirement plans lasts as long as possible. If so, be aware that a law was recently [...]
Thinking About Moving to Another State in Retirement? Don’t Forget About Taxes
When you retire, you may consider moving to another state — say, for the weather or to be closer to your loved ones. Don’t forget to factor state and local [...]
You May Be Able to Save More for Retirement in 2019
Retirement plan contribution limits are indexed for inflation, and many have gone up for 2019, giving you opportunities to increase your retirement savings: Elective deferrals to 401(k), 403(b), 457(b)(2) and [...]
Squeeze More Out of a Company SEP
If you want a retirement plan for your small company or self-employed business -- but you don't want to be buried in paperwork -- consider a simplified employee pension plan [...]
The Tax Impact of the TCJA on Estate Planning
The massive changes the Tax Cuts and Jobs Act (TCJA) made to income taxes have garnered the most attention. But the new law also made major changes to gift and [...]
Factor in State and Local Taxes When Deciding Where to Live in Retirement
Many Americans relocate to another state when they retire. If you’re thinking about such a move, state and local taxes should factor into your decision. Income, property and sales tax [...]
Get started on 2018 tax planning now!
With the April 17 individual income tax filing deadline behind you (or with your 2017 tax return on the back burner if you filed for an extension), you may be [...]
There’s Still Time to Make a 2017 IRA contributions
Tax-advantaged retirement plans like IRAs allow your money to grow tax-deferred — or, in the case of Roth accounts, tax-free. The deadline for 2017 contributions is April 17, 2018. Deductible [...]
Early Withdrawals from Retirement Plans
At some point, there may be a need to take out money early from a Individual Retirement Account or retirement plan. Doing so, however, can trigger an additional tax on [...]