Breaking Down the SECURE Act

February 14, 2020

The Setting Every Community Up for Retirement Enhancement (SECURE) Act went into effect on Jan. 1, 2020, and there have been a lot of questions about what impact the new law will have on employees and their retirement plans.

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The SECURE Act’s Impact on IRAs and Roth IRAs

February 14, 2020

The passage of the Setting Every Community Up for Retirement Enhancement (SECURE) Act in 2019 changed several aspects of retirement accounts and plans. The law, which went into effect on Jan. 1, 2020, consists of 29 provisions that deal with several aspects of retirement savings plans and accounts including Required Minimum Distributions (RMDs) and inherited IRAs.  This discussion will focus on the SECURE Act’s impact on IRAs and Roth IRAs and will touch on some new benefits to account holders and some new regulations on inheritances. 

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2020 Tax Saving Strategies

January 29, 2020

With the start of a new year and the 2020 tax season, let’s revisit some tax-saving strategies that can help you save on your taxes this year. Below are some tax tips that will be useful whether you are trying to maximize your refund or minimize what you owe.

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Financial New Year’s Resolutions for 2020

January 1, 2020

Making New Year’s resolutions is a great way to plan to be better in the new year. Unfortunately, sticking with those resolutions isn’t as easy as setting them. Whatever is on your list for the upcoming year, whether it is to get in shape, spend more time with family and friends, or save more and spend less, setting definable and realistic goals is a key to success.

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Should I Take My Pension as a Lump Sum or an Annuity?

November 12, 2019

You are getting ready to retire, and you have a defined benefit pension that will kick in once you stop working. You may have the option of taking the pension in the form of a one-time lump sum distribution or as lifetime monthly payments. So, which should you pick?

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Understanding the Required Minimum Distribution

May 6, 2019

In an effort to encourage workers to save for retirement, the United States government allows individuals to save part of their income tax-deferred into retirement accounts. Workers do not have to pay taxes on these funds or on the investment gains until the money is withdrawn from the account as income, usually during retirement.

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Discussing the In-Service Rollover

February 20, 2019

A 401(k) plan is a great vehicle for employees to save for retirement. The money invested into this employer-sponsored retirement plan is saved pre-tax and grows on a tax-deferred basis. Taxes on this deferred income are not paid until the money is withdrawn from the plan, usually in retirement. Read more

The Do’s and Don’ts of Retirement Planning

August 30, 2018
Retirement is one of the most important life stages a person will go through, and with people living longer (1), the need to properly plan for retirement is critical. This can be a daunting undertaking. Let’s look at some key points that can get you on the right track to planning a successful retirement. Read more

4 Ways to Lower Your Tax Bill

January 18, 2018
With the start of a new year, we look forward to the arrival of spring and sunnier days, but January also marks the beginning of the often dreaded tax season. While some of us get excited for a long-awaited tax refund, many stress over getting their taxes filed correctly and paid on time. The December passage of the Tax Cuts and Jobs Act into law means the upcoming tax season may be all the more stressful as Tax Day nears. With this in mind, we want to discuss four tax strategies that could help you save money on your tax bills in 2018. Read more