Generally, it’s advantageous to keep funds in your retirement accounts for as long as possible. Indeed, the longer you refrain from withdrawing funds, the longer they have to continue tax-deferred growth....more
The original Setting Every Community Up for Retirement Enhancement Act (SECURE Act), enacted in 2019, was a significant law related to retirement savings. In the spring of 2022, with an eye toward building on the reforms in...more
The temporary reprieve is over. Due to the COVID-19 pandemic, Congress suspended the rules for required minimum distributions (RMDs) in 2020, including inherited accounts. But the rules have been restored for the 2021 tax...more
11/16/2021
/ 401k ,
Compensation & Benefits ,
Coronavirus/COVID-19 ,
Employee Benefits ,
Individual Retirement Account (IRA) ,
IRS ,
Required Minimum Distributions ,
Retirement ,
Retirement Plan ,
SECURE Act ,
Tax Liability ,
Tax Planning
Obviously, qualified retirement plans such as 401(k) plans and IRAs are meant to provide retirement savings. However, those who don’t have to draw heavily, if at all, on plan and IRA assets can preserve a tidy nest egg for...more
If a substantial portion of one’s net worth is tied up in his or her closely held business, it’s critical to have an exit strategy. This article explains why an employee stock ownership plan is one tool that offers a...more
If plans call to relocate to another country after retirement, be aware that they may be tarnished if a person doesn’t look into all potential estate tax and income tax implications first. This brief article explores three...more
In This Issue:
- When should you turn down an inheritance?
- Addressing intellectual property requires careful estate planning
- Year end is an ideal time to review your estate plan
- Estate planning pitfall: You’re...more
12/1/2017
/ Charitable Deductions ,
Disclaimers ,
Double Taxation ,
Estate Planning ,
Estate Tax ,
Expatriates ,
Family Businesses ,
Generation-Skipping Transfer ,
Inheritance ,
Intellectual Property Protection ,
Patents ,
Retirement ,
Trusts ,
Wills
For those nearing the age when they can begin receiving Social Security benefits, it’s important to understand how the timing of applying for benefits can affect monthly payments. This article explains what factors to...more
People who have dreamed of spending their golden years in a tropical paradise or a culture-rich European city should discuss their plans with their advisor before making a move. It’s important to understand the potential tax...more
In This Issue:
- Estate planning for young families: Flexibility is the key
- Get smart when tackling estate planning for intellectual property
- Avoiding undue influence claims
- Estate Planning Pitfall:...more
When to begin receiving Social Security benefits depends on each person’s individual circumstances. This article shows how to determine a breakeven point — the age at which the dollar value of more (but smaller) payments...more