Taxes
Will my tax return be processed quicker this year?
Will my tax return be processed quicker this year? The 2021 tax filing season was the worst in memory. There was a slew of legislation creating Covid-related tax provisions that never existed before. Some of that legislation was passed late in the year leaving the IRS scrambling to adapt. This was very difficult given the…
Read MoreWhat are the new RMD rules?
Have RMD rules changed? Required Minimum Distributions (RMD) are back in 2021 after a one year COVID-related waiver in 2020. No changes were made this year to the Required Minimum Distribution (RMD) rules for IRAs, 401(k)s, 403(b)s and other retirement accounts but changes are coming in 2022. To determine the RMD for a given year,…
Read MoreHow your tax rates can change
How your tax rates can change As we enter the last part of 2021, Congress is debating a series of changes to the tax code. Whether you find the proposed changes disconcerting is largely a function of how the changes affect you specifically. From our perspective as advisors, changes in the tax code can alter…
Read MoreCan I rollover mom’s IRA into my IRA?
Can I rollover mom’s IRA into my IRA? Only a surviving spouse may rollover a deceased’s IRA account into their own IRA. After the SECURE Act of 2019, most non-spouse inheritors whose benefactors die in 2020 or later have only one requirement – the inheritor must take all the money out of the Inherited IRA…
Read MoreSix common misconceptions empty nesters have about retirement
Six common misconceptions empty nesters have about retirement We have been advising retirees and aspiring retirees for over 20 years. Recently a conversation occurred about what lessons retirees could teach aspiring retirees, especially those empty nesters who are zeroing in on retirement. What resulted from that conversation was a list of six common misconceptions…
Read MoreHow do I protect my portfolio against inflation?
How do I protect my portfolio against inflation? We pay more than double for most things we buy these days than we did 25 years ago. This loss of purchasing power, otherwise known as inflation, is a reality that investors must deal with prudently. Inflation is a fact of life. Inflation seems to be getting…
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