Limiting Your Post-Retirement Tax Bite
Saving for retirement in tax-deferred vehicles is a great way to reduce your tax burden today. But it’s also important to limit the tax bite out of your hard-earned savings later by creating a stream of tax-free retirement income. By most estimates, income tax
Saving for College? Consider Using a Life Insurance Retirement Plan (LIRP) as an Alternative to a 529 Plan
As the costs of higher education continue to rise, many parents worry about how they will pay for their kids’ educations without requiring them to borrow staggering amounts in student loans. In order to save for future tuition expenses, some families use a tax-advantaged
Section 179 Rules in 2020
In 2020, businesses are looking for breaks, and small businesses in particular need all the help they can get. Fortunately, they may receive a little extra boost in the form of increased Section 179 deductions and 100% bonus depreciation on equipment purchases. Typically, businesses
Comparing the Biden vs. Trump Tax Plans
Forward-thinking tax planners and informed voters who want to compare the tax plans of the 2020 presidential candidates will find details hard to come by. Neither Former Vice President Joe Biden nor President Donald J. Trump offers a specific tax plan on their campaign
5 Reasons to Consider Using a Trust
When approaching the estate planning process, many people assume that a simple will is all they need to effectively distribute assets among their heirs. While a will is an integral component of any estate plan and an important tool for spelling out your wishes
Converting to a Roth? Don’t Dip into Your Traditional IRA to Pay the Taxes
Converting a traditional Individual Retirement Account to a Roth IRA offers tax advantages in certain situations. It is most advantageous when you can pay any resulting income taxes without using funds from the traditional IRA. Contributions to Roth IRAs have already been taxed, so