by Admin | Aug 11, 2022 | Retirement, Tax Planning
Tax law requires individuals who have reached age 72 to begin taking minimum distributions from their traditional IRA accounts. These are referred to as a required minimum distribution or RMD. The RMD amount is the value of the IRA account on the last day of the prior...
by Admin | Jul 5, 2022 | Individual Taxes, Retirement, Tax Planning
When was the last time you or your attorney reviewed or updated your will or trust? If it was some time ago before the passage of substantial tax law changes over the past few years, your documents may be out of date. Among the many changes was a substantial revision...
by Admin | Jun 23, 2022 | Business Taxes, Entrepreneurial, Individual Taxes, Retirement, Tax Planning
Waiting for your regular appointment to discuss current tax-related issues can create problems or cause you to miss out on beneficial options that need to be timely exercised before year-end. Generally, you should call this office any time you have a substantial...
by Admin | Jun 16, 2022 | Individual Taxes, Retirement, Tax Planning
When Congress enacts tax laws, many times whether the law applies is based on the age of the taxpayer or a taxpayer’s dependent. Reaching a certain age sometimes provides a tax benefit, while in other cases there’s a tax “penalty” – meaning that a specific type of...
by Admin | Jun 7, 2022 | Individual Taxes, Retirement, Tax Planning
Are you familiar with 401(k) retirement funds? More and more employers are offering 401(k) plans as an employee benefit, and if you have the option and are not currently taking advantage of it, it may be time to rethink your savings strategy. Not only do these popular...
by Admin | Apr 26, 2022 | Individual Taxes, Retirement, Tax Planning
The annual inflation rate in the U.S. accelerated to 7.5% in January of 2022, the highest since February of 1982, hitting those on fixed retirement income, namely seniors, the hardest.On top of escalating living expenses due to inflation, some retirees are faced with...
