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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,…
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…
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…
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 (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…
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,…
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…
Have you heard of an ING-teresting trust planning vehicle that can help to reduce or eliminate state income taxes upon the sale of highly appreciated assets? If you live in a high-income tax state such…
Part 3 of 4 Collections can grow organically or you may have a specific plan for acquisitions. Between seeking out items, researching them, and connecting with others about the objects, you’ve likely spent a great…
Like most election cycles, there has been a lot of talk about the direction of income taxes. While the results of the Senate race will not be known until January, we know that neither party…