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| Financial Planning |
| Reasons to Take Company Plan Money And Pay the Taxes Now - May 6, 2013 | |
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If your company plan includes highly appreciated company stock, you may want to consider withdrawing the stock and rolling the rest of the plan assets over to an IRA. Why would you want to do this?...
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| Roth Conversions: Tax Today or Tax Tomorrow… That is the Question! (Part 3 of 3) - April 3, 2013 | |
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The longer until you need to withdraw funds from your retirement plan the more advantageous a conversion will be where taxes are paid with outside funds....
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| Roth Conversions: Tax Today or Tax Tomorrow… That is the Question! (Part 2 of 3) - February 19, 2013 | |
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It is important to start out by stating that, assuming tax rates for the IRA holder stay the same, your net worth is exactly the same whether you maintain assets inside the traditional IRA and 401(k) or converting the assets to a Roth IRA and paying the associated taxes....
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| Looking Back for Qualified Charitable Distributions - January 11, 2013 | |
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While the rules promulgated in the American Taxpayer Relief Act of 2012 were stated in the law, the application of those rules is becoming clearer as we have time to dissect them. This article is of timely importance if you were thinking of contributing an IRA distribution to charity in 2012 or 2013....
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| The “Fiscal Cliff” Deal - January 4, 2013 | |
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Not to let us down, our esteemed Senators and Congressmen came to an agreement to solve the so-called “fiscal cliff.” The tax act known as the American Taxpayer Relief Act of 2012 does a lot for taxes, a little for the sequestration, and changes several health care rules...
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| My Personal Financial Planning New Year’s Resolution for Each Year - January 2013 | |
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At the beginning of 2008, I wrote this piece and was surprised at the positive responses that I received from clients. As usual, I have added a few new items for 2013 but have kept the fundamental framework the same because the basics really never change...
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| Clarifying the Roth IRA Rules for Year-End Planning - December 18, 2012 | |
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As we head into the end of each year, Roth IRAs and the confusing rules surrounding them always seem to be a topic in client reviews. A misunderstanding that we see frequently as advisors is individual investors thinking they have until April 15th to execute a conversion ...
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| Roth Conversions: Tax Today or Tax Tomorrow… That is the Question! - December 12, 2012 | |
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The road map to retirement contains five paths: government benefits, company benefits, tax-deferred savings, tax-free savings, and taxable savings. Each path has different tax consequences, different rules on putting money in, and different rules on getting money out. ...
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| New Taxes in 2013 - November 5, 2012 | |
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As many of you may be well aware, the Supreme Court of the United States (“SCOTUS”) came out with its ruling on the Affordable Care Act (“ACA”) in late June. The vote was 5 to 4 with Chief Justice Roberts, a Bush appointee, voting in favor of ...
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| Primer on 529 College Savings Plans - October 1, 2012 | |
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Most families understand the value of a college education and, in our high tech and interconnected world, the value means a better chance at landing a job and a higher income potential. Stifling our ability to send children to ...
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| The Portability Feature - September 5, 2012 | |
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The government provides each individual with a lifetime credit amount and the ability to transfer property to a surviving spouse estate tax free. Many individuals do not consider the lifetime credit amount, but its equivalent, the lifetime exclusion amount...
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| 2012 Year-End Tax Planning - August 14, 2012 | |
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That time of the year has rolled around once again; the time is here to make any adjustments to reduce your annual tax liability. The next few years are vitally important, and have become increasingly difficult, to plan appropriately to minimize income and transfer taxes...
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| Challenging Financial Outlook for Social Security and Medicare - April 27, 2012 | |
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Every year, the Trustees of the Social Security and Medicare Trust Funds release reports to Congress on the current financial condition and projected financial outlook of these programs. This year's reports, released this past Monday...
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| The Long-Term Care Dilemma - April 12, 2012 | |
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If you've planned for long-term care expenses, you've done well because there's a pretty good chance you, your spouse or significant other will have a need for care at some point...
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| Higher Income Taxes Are on the Way! - March 21, 2012 | |
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A number of significant federal income tax provisions expired at the end of 2011, a fact that was most likely overlooked by most of us with so much attention being focused on the "Bush Tax Cuts" that are still in effect, but scheduled to expire at the end of ...
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| Understanding Social Security Spouse's Benefits - January 31, 2012 | |
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You are probably well aware of when your own Social Security retirement benefits are scheduled to begin, but are you aware that your spouse may also be entitled to benefits based on your Social Security record? It's true...
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