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Category: In The News
The financial world is constantly changing. Keep up to date on the current headlines that may affect your financial planning and goals.
The IRS Has Extended 2020 Retirement Account Contributions
The IRS has provided automatic tax deadline extensions to people on a state-by-state basis. This includes the deadline to make 2020 IRA contributions. The good news for you is that you may still have time to open an account and get a deduction for 2020. Find out below if your state qualifies for the extension. […]
Read MoreInvestor Security – Part 1
Sometimes the greatest benefits can also pose the greatest challenges. In a Checkbook IRA, investors have the freedom to pursue the assets that make sense to them. With that freedom, though, comes an increased responsibility to do research. Investors have to look carefully at the proposed investment and see if it truly has the potential to be profitable in the […]
Read More2021 Tax Guide to Required Minimum Distributions
In the last year, there have been several rule changes to retirement plans. Many of these changes have been established to provide economic relief for those affected by the coronavirus. To make it easier for taxpayers, the IRS recently published a list of the most relevant ones. Here’s the breakdown: New RMD Age – Owners […]
Read More2021 Tax Tips From The IRS
The IRS has made a big push in recent years to become a more consumer friendly organization. Their website now offers a plethora of practical and easy-to-read articles, and some of the information there can really help tax payers in the long run. If you’re interested in seeing some of the latest developments, you can […]
Read More5 Money Moves for Investors to Make Before Year-End
Let’s face it, this year has been tough both financially and mentally. To end the year on a high note, investors should perform a little portfolio management. Here are five of the best money moves to make before the end of 2020. Maximize Your Retirement Contributions Why is maximizing your retirement contributions important? Tax-Advantages – 401(k) and […]
Read MoreWhat Does a Biden Win Mean for Your Retirement?
After an election season like no other, Joe Biden has been voted in as the next President of the United States. Whether or not you’re happy with the results, having a new president leads to many questions. What changes will a new president make to public policy? Should I invest differently based on these changes? How will these changes affect my daily life […]
Read More7 Retirement Planning Mistakes to Avoid during Coronavirus
Covid-19 has caused many disruptions in our lives. You may feel overwhelmed while working from home, checking the stock market, and disinfecting everything in sight. However, despite all of the new changes and unknowns, now is not the time to lose sight of your financial goals. Here are seven retirement planning mistakes to avoid during Coronavirus: Mistake #1: Not Revisiting your Budget The […]
Read More5 Ways to Celebrate National Financial Awareness Day
Did you hear? August 14th is National Financial Awareness Day! Most likely it is not your favorite holiday, but one that can do you some good. The financial decisions you make now affect your future in that scenic retirement destination. Here are five pieces of advice to take advantage of as you start your journey towards […]
Read MoreIs the 401(k) Still Working?
The 401(k) plan, like all retirement plans, was meant to incentivize people to save for retirement. It accomplished this by officially offering some big tax incentives. Put money into the plan and reap the benefits. What happens, though, when the tax environment changes and those benefits disappear? In a recent Bloomberg Op-Ed, Aaron Brown details the 401(k) shift and explains why investors might want to reconsider. […]
Read MoreWhy the IRS CARES About RMDs
When the IRS releases new IRA information, it’s dry, boring, and usually just a technical thing that your accountant needs to know about. This time, though, the IRS update has some real need-to-know kind of news. It’s about the CARES Act and it can affect you right now. Let’s start with a quick overview and then move on to […]
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