News & Articles

SECURE Act Affects Retirement and Tax Planning for Individuals

Posted on Fri, Jan 17, 2020

On December 20, President Trump signed into law the Setting Every Community Up for Retirement Enhancement (SECURE) Act. It was part of the Further Consolidated Appropriations Act federal spending package. 

Read More

Tags: Traditional IRA, IRA Distributions, 529 Plans, RMD, SECURE Act

Are Roth IRAs Still Beneficial under the New Tax Law?

Posted on Mon, Mar 12, 2018

The Roth IRA remains an attractive retirement planning vehicle for many individuals after the changes made by the Tax Cuts and Jobs Act (TCJA). Here's what you need to know about Roth IRAs and Roth IRA conversions under the new law.

Read More

Tags: Roth IRA, Traditional IRA, Tax Rates, Roth IRA Conversion

It's Time to Review Your Financial Planning Options

Posted on Mon, Aug 29, 2016
Fall is a good time to pause and review your financial planning strategy. A lot can happen in a year. If your personal life, market conditions or tax laws have changed, you may need to revise your long-term financial plans. Here are some retirement and estate planning considerations that may be worthwhile.

Read More

Tags: Roth IRA, Traditional IRA, Gifts, Charitable Giving, Charitable Donations, Roth IRA Conversion

Can You Have Too Much Money in Tax-Deferred IRAs?

Posted on Fri, Jun 10, 2016

In some cases, individuals reach a point where deferring taxes to the max is counter-productive.

Read More

Tags: Traditional IRA, Tax-Deferred, IRA Distributions, IRA

Avoiding the 10% Penalty on Early IRA Withdrawals

Posted on Wed, Apr 06, 2016

For one reason or another, you may need to take some money out of an IRA before reaching retirement. You can withdraw money from an IRA at any time and for any reason, but it's important to keep in mind that most IRA withdrawals are at least partially taxable. In other words, you'll owe regular income tax on the amount. In addition, the taxable portion of a withdrawal taken before age 59 1/2, which is called an "early withdrawal," will be hit with a 10% penalty — unless you qualify for an exception.

Read More

Tags: Traditional IRA, Health Insurance, Higher Education, SEP, IRA

Five Last-Minute Moves to Lower Your 2015 Tax Bill

Posted on Mon, Feb 29, 2016

Tax Day is right around the corner. Have you filed your federal tax return yet? The filing deadline to submit 2015 individual federal income tax returns is Monday, April 18, 2016, rather than the traditional April 15 date. Washington, D.C., will celebrate Emancipation Day on Friday, April 15, which pushes the deadline to the following Monday for most of the nation. The deadline will be Tuesday, April 19, in Maine and Massachusetts, due to Patriots' Day.

Read More

Tags: Traditional IRA, Sales Tax, SEP, Section 179 deduction

IRS Issues Clarification of Once-a-Year IRA Rollover Limit

Posted on Mon, Nov 17, 2014

There have been several twists and turns this year relating to the "once-a-year rule" for IRA rollovers. In the latest move, the IRS has provided additional guidance in the wake of a controversial U.S. Tax Court decision applying the rule to all IRAs owned by an individual. Significantly, the IRS is providing taxpayers with greater flexibility in their year-end tax planning decisions.

Read More

Tags: EHTC Article, Roth IRA, Traditional IRA, Newsletter, Articles, Taxable, Taxes, IRA, Penalty Tax

IRS and Social Security Announce Increased Benefits for 2015

Posted on Mon, Nov 03, 2014

With the 2015 tax year right around the corner, there is good news coming from the IRS. According to a recent announcement, the tax agency has increased several tax breaks due to inflation adjustments.

Read More

Tags: EHTC Article, Roth IRA, Traditional IRA, contributions, IRA phase-out, Newsletter, Articles, Taxes, IRA

Can You Have Too Much Money in Tax-Deferred IRAs?

Posted on Thu, Oct 16, 2014

In some cases, individuals reach a point where deferring taxes to the max is counter-productive.

Read More

Tags: EHTC Article, Roth IRA, Traditional IRA, Newsletter, Articles, Taxable, Taxes, IRA, Penalty Tax