Am I “Tax Locked” In My Home?
As retirees age, it often becomes apparent that the home in which they raised families may not be the home they remain in long term. It may be more square footage than needed, or may…
Looking to Make a Move Prior to Selling Your Home?
Consider a Pledged Asset Line Many retirees consider the benefits of downsizing their home at some point. According to Zillow, 46% of Baby Boomers who sold their homes in 2017 were in the process of…
Tax and Estate Planning Strategies to Consider Before the 2022 Tax Law Change
Written by Eileen Stevens and Lisa Neira The House Ways and Means Committee recently unveiled their draft tax plan, part of President Biden’s new “American Families Plan” proposal. While many ideas were floated to increase…
Finding (& Funding) Your Retirement Home
Retirement is a time of transition. Those approaching retirement often look forward to the freedom that will be plentiful once they stop working. That flexibility not only allows them to dictate how they spend their time,…
Could I Reduce My Tax Bill to $0 through Charitable Gifting?
In light of COVID’s devastating impact on many not-for-profit groups and organizations, the IRS included a provision in the 2020 CARES Act (and more recently extended through 2021) that taxpayers can deduct 100% of cash…
Net Unrealized Appreciation Strategy: Put Your After-Tax Contributions to Work
So you’ve taken our advice and shucked your 401(k) oyster to discover a shiny, valuable pearl sitting within! After closer examination, the pearl seems to check all the Net Unrealized Appreciation (NUA) criteria boxes: The…
How Does a Mega Backdoor Roth 401(k) Work?
What do my dog (Sherlock) and hamster (Snuffles) have to do with Mega Backdoor Roth 401(k) contributions? Other than being super cute, these intelligent creatures are masters at squirreling away their treats for later. Sherlock…
Net Unrealized Appreciation – Do you have an undiscovered pearl in your 401(k)?
Net Unrealized Appreciation (NUA) is the difference in price you paid (cost basis) for your company stock and its fair market value today. For some of you, the NUA of your employer stock may be…
Form 1099-R: Tax Filing for Retirement Accounts
The Coronavirus Aid, Relief, and Economic Security (CARES) Act of 2020 eliminated the need for retirement account holders to take Required Minimum Distributions (RMDs) in 2020. While many individuals simply did not take their RMD,…
Investment Considerations for Year-End
2020 will go down as a particularly unusual year. The pandemic brought large market swings, record unemployment and rippled through industries. In one way or another, it has affected how we live and work. Being…