From: www.kiplinger.com
When you’re planning for retirement, it’s fun to contemplate all the cruises, rounds of golf and restaurant meals you have ahead of you. You’ve earned it! However, many retirees don’t take into consideration the cumulative impact of federal and state income taxes on withdrawals from their nest eggs.
“Finding tax-efficient investments is the key to successfully saving for…
Go to page: Are you prepared for tax season?From: REAP, LLC. | Retirement & Estate Advisors & Professionals
Believe it or not, it’ll be time to start thinking about doing your taxes soon (if you haven’t already begun).
Whether you already have a plan in place or know you need to make some adjustments this year, it’s a good idea to check in with a few basics.
As always, reach out if you need some assistance. For…
From: money.usnews.com
Try these strategies to boost your retirement investments in the new year.
The new year is the perfect time to start getting your finances on track, and that doesn’t necessarily mean cutting back on the things you enjoy. But sometimes getting a handle on your finances can mean a little sacrifice now that will pay off in the future.
Here are…
From: 401kspecialistmag.com
From average benefit amounts to the program’s scope, COLAs and retirees’ dependence on it, here are 20 bullet points filled with interesting, up-to-date tidbits about the largest government program in the world.
Social Security, the largest government program in the world, is projected to pay out $950 billion in benefits for older Americans and another $150 billion on Social Security disability payments this…
From: turbotax.intuit.com
Don’t overpay taxes by overlooking these tax deductions. See the 10 most common deductions taxpayers miss on their tax returns so you can keep more money in your pocket.
Get your share of more than $1 trillion in tax deductions
The most recent numbers show that more than 45 million of us itemized deductions on our 1040s—claiming $1.2 trillion dollars’ worth of tax deductions….
Go to page: How Senior Veterans Can Take Control of Their FinancesBy Teresa Greenhill
Moving into retirement can be a complicated financial time for anyone, but veterans have more considerations than your average civilian. Everything from medical costs to what kind of retirement accounts you may have can be slightly more complicated. Veterans deserve to have a solid understanding of their own financial situation. With the right knowledge, they can take control of their finances and live the peaceful retirement they’ve earned.
From: www.fa-mag.com
With the SECURE Act now signed into law, it is critical to understand how it changes how we approach estate planning. Specifically, the SECURE Act replaces the “stretch” IRA from inherited retirement accounts, which allowed beneficiaries who inherited retirement accounts to choose to take distributions over their life expectancy. Under the SECURE Act, retirement assets must be distributed out of the…
From: www.forbes.com
The Internal Revenue Service announced today the official estate and gift tax limits for 2020: The estate and gift tax exemption is $11.58 million per individual, up from $11.4 million in 2019. That means an individual can leave $11.58 million to heirs and pay no federal estate or gift tax, while a married couple will be able to…
From: wsj.com
Many have useful tips for gentle persuasion while others spell out a more direct approach
Want to talk about plans for when you die?
(Silence)
I guess not.
That exchange, unfortunately, describes how many adult children and their parents approach—or, rather, fail to approach—the subject of estate planning. Few families, of course, enjoy talking about money. Introduce the idea…
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