Apr 2, 2019 | Firm Updates, Retirement Planning, Tax Tips
Do you want to save more for retirement on a tax-favored basis? If so, and if you qualify, you can make a deductible traditional IRA contribution for the 2018 tax year between now and the tax filing deadline and claim the write-off on your 2018 return. Or you can...
Mar 27, 2019 | Firm Updates, Retirement Planning, Tax Tips
If you participate in a qualified retirement plan, such as a 401(k), you must generally begin taking required withdrawals from the plan no later than April 1 of the year after which you turn age 70½. However, there’s an exception that applies to certain plan...
Dec 27, 2018 | Firm Updates, Retirement Planning
Retirement plan contribution limits are indexed for inflation, and many have gone up for 2019, giving you opportunities to increase your retirement savings: Elective deferrals to 401(k), 403(b), 457(b)(2) and 457(c)(1) plans: $19,000 (up from $18,500) Contributions to...
Nov 21, 2018 | Firm Updates, Retirement Planning
Will you be age 50 or older on December 31? Are you still working? Are you already contributing to your 401(k) plan or Savings Incentive Match Plan for Employees (SIMPLE) up to the regular annual limit? Then you may want to make “catch-up” contributions by the end of...
Oct 16, 2018 | Firm Updates, Individual Tax, Retirement Planning
Many people choose to pass assets to the next generation during life, whether to reduce the size of their taxable estate, to help out family members, or simply to see their loved ones enjoy the gifts. If you’re considering lifetime gifts, be aware that which assets...
Oct 2, 2018 | Firm Updates, Individual Tax, Retirement Planning
If you are age 70½ or older, you can make direct contributions—up to $100,000 annually—from your IRA to qualified charitable organizations without owing any income tax on the distributions. This break may be especially beneficial now because of Tax Cuts and Jobs Act...
