Here’s a helpful, often over-looked tax tip for your estate planning if you want to make a charitable gift. If you have an IRA, it may be best to make that gift directly from the IRA to help save taxes. Normally, when you withdraw funds from an IRA, you (or your beneficiaries) must [...]
Here’s a tax tip for you in Estate Planning. If you have an IRA and want to make a charitable gift, the IRA may be the best way to make that gift. Why is that? Well, it’s about saving taxes. You know that if you take money out of an IRA, you pay [...]
On December 20, 2019, President Trump signed the Setting Every Community Up For Retirement Enhancement Act of 2019, better known as the SECURE ACT, into law. The law goes into effect on January 1, 2020 and it makes significant changes to retirement accounts. Here are some of the bigger changes. Increased RMD Age Under the [...]
It's that time of year again. The administrator of your tax-deferred account (IRA or 401K) will call advising you on your required minimum distribution (RMD). Often, the account holder's response is, "Darn, here's the government making me pay taxes on this money." Therefore, their goal is to take only the minimum distribution and pay the [...]