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9 10, 2020

Required Minimum Distributions (RMDs) are Waived in 2020—Should You Still Take Them?

By |2020-10-19T08:17:44-07:00October 9th, 2020|Categories: IRAs, Retirement Planning, Tax News|Tags: , , , , , , , , |0 Comments

If you are age 72 or older, you generally must take required minimum distributions (RMDs) from your traditional IRA or employer-sponsored retirement plan, such as a 401(k) or 403(b), each year. These amounts are included in your taxable income, and if you fail to take your RMD by the annual deadline, the amount not withdrawn

16 09, 2020

Active Versus Passive Investing: The Pros, Cons, and Tax Implications of Each Approach

By |2020-10-01T20:04:31-07:00September 16th, 2020|Categories: Retirement Planning, Tax Planning|Tags: , , , , |0 Comments

When deciding how to invest your money in order to maximize returns and minimize taxes over time, you may hear about two different strategies: active and passive investing. As the names suggest, active investing involves a more hands-on role for the portfolio manager, while a passive approach involves buying and holding investments for the long-term.

9 09, 2020

Retirement Fund Rollovers: Watch the Calendar and Follow the Rules

By |2020-09-11T02:29:32-07:00September 9th, 2020|Categories: IRAs, Retirement Planning, Tax Planning|Tags: , , , , , , , |0 Comments

There are many reasons why you might want to move your retirement savings to another account.  Maybe you want to invest with a company with better performance. Maybe you changed jobs and want to bring past accumulations with you to a new plan. If you’re among the millions who lost a job as the economy

17 07, 2020

The Downside of a Large Tax-Deferred Nest Egg

By |2020-07-17T23:57:51-07:00July 17th, 2020|Categories: Retirement Planning, Tax Planning|Tags: , , , , , , |0 Comments

You’ve been saving aggressively in an IRA or 401(k) plan for your whole career and you’re set up well for retirement. Or are you? If you’ve built up a large nest egg only or mostly in tax-deferred accounts, you may give up too much of your hard-earned savings to taxes when you begin withdrawing from

7 07, 2020

What are the Options for Your 401(k) When You Retire or Change Jobs?

By |2020-07-15T00:26:47-07:00July 7th, 2020|Categories: Retirement Planning, Tax Planning|Tags: , , |0 Comments

Whether you are pursuing a new career opportunity, retiring, or have been fired or laid off, leaving a job is a major life change. If you had a 401(k) with your former employer, one of the many decisions you will have to make as you navigate the transition is what to do with the balance

1 06, 2020

Balance Your Taxable and Tax-Advantaged Investments

By |2020-06-13T20:27:56-07:00June 1st, 2020|Categories: Retirement Planning, Tax Diversification|Tags: , , , , |0 Comments

Most investors are familiar with the idea of allocating investments across different asset classes to diversify portfolios and manage risk. It’s also important to balance savings across a mix of taxable, tax-deferred and tax-exempt accounts. Why? Simply put, investing for tax efficiency lets you keep more of your money. The first rule of investing is

26 05, 2020

Additional Changes to Retirement Plans under the SECURE ACT

By |2020-06-13T20:53:50-07:00May 26th, 2020|Categories: IRAs, Retirement Planning, Tax News|Tags: , , , , |0 Comments

Enacted with the goal of making it easier for American workers to save for retirement, the SECURE Act—which stands for Setting Every Community Up for Retirement Enhancement—implemented several sweeping changes to retirement plans when it became law on January 1, 2020. From expanding the tax credits available to businesses that offer retirement plans to enhancing

22 05, 2020

CARES Act Retirement Plan Changes Offer Financial Relief

By |2020-06-13T21:03:07-07:00May 22nd, 2020|Categories: IRAs, Retirement Planning, Tax News|Tags: , , , , , |0 Comments

Whether you are retired or are some years away from that stage of life, the Coronavirus Aid, Relief and Economic Security Act (CARES) made changes to retirement plan rules that may help ease financial difficulties in this downturn. The CARES Act expands options for taking distributions from retirement accounts and limits the tax impact of

14 05, 2020

Tax Credits Reward Businesses That Offer 401(k)

By |2020-06-13T21:23:52-07:00May 14th, 2020|Categories: IRAs, Tax News|Tags: , , , , |0 Comments

New and significantly expanded tax credits offer small businesses incentives to launch and offer qualified retirement savings plans for employees. A majority of Americans lack the savings to retire comfortably; one quarter of adults have no pension or retirement savings at all, according to the Federal Reserve. With both public pension funds and Social Security

11 05, 2020

New Rules Add Flexibility for Retirement Distributions

By |2020-06-13T21:29:57-07:00May 11th, 2020|Categories: IRAs, Retirement Planning, Tax Diversification, Tax News|Tags: , , , , , , |2 Comments

If you are 70 or about to hit that milestone, you’ve just gained more options in managing your retirement income. As of January 1, 2020, you can now delay taking required minimum distributions (RMDs) from retirement savings until age 72. Previous rules required distributions after age 70.5 from IRAs or employer-sponsored retirement plans such

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