• In a CNBC interview yesterday, Janet Yellen said, ‘I think the price of doing too little is much higher than the price of doing something big.’ • She argued that unemployment would be 10% if we measured it correctly. • She said inflation is not a big concern because the Federal Reserve ‘has tools’ […] Read the full article…
• the SECURE Act of 2019 became law on December 20, 2019 • SECURE — Setting Every Community Up for Retirement Enhancement • Let’s break down the key changes, most of which benefit retirement savers Today I’ll summarize the key changes and assess the impact to taxes. The Act has a large number of provisions. […] Read the full article…
IRS contribution limits to retirement plans for 2017 are largely unchanged. The maximum SEP contribution limit has gone up $1,000 to $54,000. Taxpayers can deduct IRA contributions if they meet certain conditions. One condition is that deductions are ‘phased out’ based on your level of income. The phase-outs also depend on whether the taxpayer or […] Read the full article…
Last month the IRS announced 2016 Pension Plan / 401(k) Contribution Limits. 401k elective deferrals remain unchanged at $18,000. As well, catch-up contributions allowed for those 50 and older are unchanged at $6,000. Several of the phase-out limits were adjusted up. For IRA contributors not covered by a workplace retirement plan and is married to […] Read the full article…
Asset location refers to your investment assets and the accounts they belong to. We use asset location to minimize your tax bill and increase your after-tax returns. Investment assets are taxed differently based on two things. First, the type of the investment and second, the type of account. For example, dividends on stocks or mutual […] Read the full article…