Articles

Estates & Trusts

• What Key Estate Planning Tools Should I Know About?

  Wills and trusts allow you to spell out how you would like your property distributed, but they also go beyond that.

Retirement

• What Is a SEP IRA?

  A SEP IRA is a type of plan under which the employer contributes (up to a certain limit) to an employee’s IRA.

• What Is a SIMPLE?

  The SIMPLE plan may appeal to small business owners as it is easy to set up, administer, and allows for a tax deduction.

• What Is an IRA Rollover?

  If you leave a job or retire, you should consider your options regarding your employer retirement plan assets.

• What Is a Roth 401(k)?

  A Roth 401(k) is funded with after-tax money, and allows for tax- and penalty-free withdrawal of earnings if requirements are met.

• What Is a Profit-Sharing Plan?

  Profit-sharing plans give employees a share in the profits of a company and can help to fund their retirements.

• What Is a 403(b) Plan?

  A 403(b) plan is a tax-deferred retirement savings plan that can only be offered by a 501(c)(3) tax-exempt entity.

• Unforgettable Birthdays

  There are key dates after you turn 59½ that can impact your taxes, Medicare eligibility, and retirement benefits.

• Should You Bank Your Retirement on Your Business?

  Allocating too much of your retirement investments to one company, even your own, can be a risky proposition.

• What Is a Traditional IRA?

  If you do not participate in an employer-sponsored retirement plan, you might consider a traditional IRA.

• What Is a 401(k) Plan?

  401(k) employer-sponsored retirement plans have many benefits, including that the funds accumulate tax-deferred.

• What Is a Roth IRA?

  Qualified Roth IRA distributions in retirement are free of federal income tax and aren’t included in gross income.

Tax Planning

• What Is the Capital Gain Tax?

  Capital gains are profits realized from the sale of assets; a tax is triggered only when an asset is sold, not held.

• What Is the Estate Tax?

  Everything you own, whatever the form of ownership, is subject to federal, and possibly state, estate taxes.

• What Is the Gift Tax?

  The federal gift tax applies to gifts of property or money while the donor is living.

• How Much Money Can I Put Into My IRA or Employer-Sponsored Retirement Plan?

  IRAs and employer-sponsored retirement plans are subject to annual contribution limits set by the federal government.

• What Is a Required Minimum Distribution?

  Required minimum distribution is the annual amount that must be withdrawn from a qualified retirement plan/account.

• When Must Taxes Be Paid on IRA and Employer-Sponsored Retirement Funds?

  With traditional IRAs and most employer-sponsored retirement plans, taxes are not payable until funds are withdrawn.

• What Happens If I Withdraw Money from My Tax-Deferred Investments Before Age 59½

  Tax-deferred retirement account withdrawals before age 59½ generally triggers a 10% federal income tax penalty.

• What Is Tax Deferral?

  There can be a substantial benefit to deferring taxes as long as possible.

• What Tax Deductions Are Still Available to Me?

  Changes to the tax code have left a few key deductions for itemizers, like medical, dental and some business expenses.

• What Is the Most Tax-Efficient Way to Take a Distribution From a Retirement Plan

  Consider a trustee-to-trustee transfer to an IRA versus a lump-sum distribution from a workplace retirement plan.

Investing

• What Is Diversification?

  An important element to successful investing is to manage investment risk while maintaining the potential for growth.

• What Is Asset Allocation?

  Asset allocation is a method used to help manage investment risk; it does not guarantee a profit or protect against investment loss.

Cash Management

• What Are Some Tips for Managing My Money?

  A sound cash management program uses a disciplined approach: accounting, analysis, allocation, and adjustment.

Risk Management

• Why Purchase Life Insurance?

  If you have a family who relies on your income, it is important to have life insurance protection.

• Why Are Annuities Considered an Insurance Product?

  An annuity is a contract between you and an insurance company to pay you future income in exchange for premiums you pay.

• What Is Life Insurance for Business Owners?

  Company-owned life insurance is one way to help protect a business from financial problems caused by the death of a key employee.