Retirement Planning Articles
Posted by Kerry Roets on October 17, 2019
Due to political gridlock, federal tax law hasn't changed much since the Tax Cuts and Jobs Act was enacted. Most of the provisions affecting businesses went into effect last year, so the year-end tax planning strategies that worked for 2018 may still be valid for the current tax year, but your specific tax situation might be different.
Posted by Bryan Staniszewski on August 29, 2019
Most private-sector employers put you in the driver's seat when it comes to saving for retirement. You might prefer the flexibility of rolling over your accumulated retirement savings into an IRA. This choice assumes, however, that your next employer's 401(k) plan allows you to move money into it from another 401(k) plan.
Posted by Cheryl A. Jankowski on August 05, 2019
Whether you are looking for ideas to help cut your tax bill for the current year, or you are hoping to minimize future taxes, now is a good time to start thinking about your tax planning strategies.
Posted by Robert Ingrasci on July 02, 2019
The IRS has privately ruled that a surviving spouse can roll over their deceased spouse's IRA — payable to a trust of which they sole trustee and beneficiary — into their own IRA. Generally, where an IRA beneficiary is a trust, a surviving spouse is barred from treating a decedent's IRA as their own account.
Posted by Cheryl A. Jankowski on June 28, 2019
The Tax Cuts and Jobs Act has brought great changes to estate planning. In doing so, it bolstered the potential value of dynasty trusts. This article explains why these trusts are well worth considering for tax purposes. We'll also look at valid nontax reasons for establishing one.
Posted by Cheryl A. Jankowski on May 09, 2019
Tax reform legislation doubled the federal estate, gift, and generation-skipping transfer (GST) tax exemption to $11.18MM (as indexed for inflation) per person. This created a seven-year window for increased wealth transfer planning.