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Key Financial Data 2020 Reference Card – January 2020
Happy New Year to you and your family! I hope the last several weeks have been merry and festive, leaving you recharged to move full steam ahead into 2020. As we enter a new year, it’s a good time to review your tax plan in light of changes to the tax code and numbers. That’s …
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. The most …
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. Under the previous rules, we could ‘stretch’ IRA distributions to non-s …
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. Although there are no guarantees, there are steps that can be take …
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. What about your state? Are you in a high-tax state or …
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. For tax year 2017, 37 million income tax returns reported charitable donations. For 20 …