Growing number of single households face unique challenges
Without additional resources single households may be more vulnerable to financial shortfalls, making financial planning particularly important.
Category: Retirement/Income
Looking beyond the basics of HSAs
In order to take advantage of the tax benefits, it is important to take a deeper look at HSAs and understand how they work.
Spouses have more flexibility when inheriting IRAs
The tax code gives preference to spousal beneficiaries with more choices and potentially more advantageous tax treatment of required distributions.
How to avoid a misstep with a backdoor Roth contribution
It is important to note there are some potential mistakes to be avoided when executing a backdoor Roth strategy.
There is still time for sole proprietors to fund a retirement plan for 2023
There is still time for sole proprietors to establish a retirement plan for 2023. And this year, some individuals may be able to contribute even more money, if they act before the tax filing deadline. Sole proprietors can establish a plan using a SEP IRA or an Individual 401(k) and make a retirement contribution for
What’s in store for SECURE 2.0 this year
The SECURE 2.0 Act, signed into law in late 2022, was a follow-up to the original SECURE Act passed in 2019. The bill included more than 90 different provisions scheduled to be phased in over several years. SECURE 2.0 introduced wide ranging changes to employer-sponsored retirement plans as well as IRAs. For 2024, there are
Consider the ripple effects of a Roth conversion
Here are several considerations including possible impacts on future taxes for individuals considering a Roth conversion.
Seven year-end planning ideas for retirement savings
There are several planning ideas for retirement savings at year end that may help taxpayers avoid costly mistakes and improve tax efficiency.
Unraveling the 10-year rule
The SECURE Act 10-year rule set new guidelines for distributing inherited retirement accounts and has impacted retirement planning.
Exploring changes in retirement legislation with SECURE Acts
Explore six changes to retirement from the passage of the SECURE Acts and get essential insights to enhance your retirement planning.