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The Week Ahead – January 13, 2020: How Does the SECURE Act Impact Your RMDs?

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The Week Ahead – January 13, 2020: How Does the SECURE Act Impact Your RMDs?

The SECURE Act, which went into effect Jan. 1, 2020, significantly changes the Required Minimum Distribution (RMD) requirements for inherited accounts and increases the age that you are required to start your RMDs to age 72, if you did not reach age 70.5 by the end of 2019.

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The Week Ahead – January 6, 2020: Pros, Cons and Possible Disasters after SECURE Act

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The Week Ahead – January 6, 2020: Pros, Cons and Possible Disasters after SECURE Act

Sweeping retirement changes were just signed into law that bring both positives (for savers) and potentially disastrous consequences (for heirs). Here are five important things everyone should do right now.

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Our Best of 2019: Take A Ride With Us Down Memory Lane

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Our Best of 2019: Take A Ride With Us Down Memory Lane

At Taylor Financial Group, our sole focus is on our clients and providing an amazing client experience to all of you. Indeed, we are proud to say that in 2019 we had 98% client retention. More than 58% of our clients have been with us for more than 10 years. And many of you have been with us for over 20 years!

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The Week Ahead – December 30, 2019: The SECURE Act and Retirement

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The Week Ahead – December 30, 2019: The SECURE Act and Retirement

On December 20, 2019, the President signed the SECURE Act into law. This legislation makes significant changes to retirement accounts and retirement planning. The Bill will make it easier for small businesses to offer 401(k)’s, and to include annuities in retirement accounts.

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How Your Employee Benefits Fit into Your Financial Plan

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How Your Employee Benefits Fit into Your Financial Plan

Your Health Savings Account (HSA) is a cornerstone of your benefits planning. The money is triple tax-advantaged – contributions, growth and withdrawals for qualified expenses are not taxed. This account is like nothing else, and you need to take full advantage of it. 

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The Week Ahead – December 23, 2019: The SECURE Act and Estate Planning

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The Week Ahead – December 23, 2019: The SECURE Act and Estate Planning

The Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019, which passed the House in a 417-3 vote and will now likely pass the Senate by unanimous consent, will probably change your estate planning.

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In the SECURE Act Era, You’ll Need a New Retirement Strategy. Roth Conversions Could Be It.

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In the SECURE Act Era, You’ll Need a New Retirement Strategy. Roth Conversions Could Be It.

But when the SECURE Act goes into effect – expected on Jan. 1, 2020 – beneficiaries will have to fully distribute taxable accounts within 10 years of the account holder’s death. That could push your loved ones into a higher tax bracket.

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The Week Ahead – December 16, 2019: Steps to Help You Retire Early

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The Week Ahead – December 16, 2019: Steps to Help You Retire Early

AMERICANS TEND TO retire in their 60s, but some people want to retire sooner so they have time to pursue other interests. Early retirement generally requires a serious commitment to saving and maintaining a frugal lifestyle.

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The Week Ahead – December 9, 2019: Best States for Low Taxes: 50 States Ranked for Taxes, 2019

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The Week Ahead – December 9, 2019: Best States for Low Taxes: 50 States Ranked for Taxes, 2019

No two states are alike when it comes to taxes. They all have their own rules, rates and special tax breaks. As a result, your overall state and local tax burden in one state can be thousands of dollars more (or less) than in another.

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The Week Ahead – December 2, 2019: How to Get Tax Savings on Charitable Contributions

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The Week Ahead – December 2, 2019: How to Get Tax Savings on Charitable Contributions

Qualified charitable distributions from an IRA provide individuals over 70½ with a way to receive income tax savings on charitable gifts—even if they decide to take the newly increased standard deduction.

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