Tax filing season is here again. If you haven’t done so already, you’ll want to start pulling things together — that includes getting your hands on a copy of last year’s tax return and gathering W-2s, 1099s, and deduction records. You’ll need these records whether you’re preparing your own return or paying someone else to […]
What’s the Difference Between a Direct and Indirect Rollover?
If you’re eligible to receive a taxable distribution from an employer-sponsored retirement plan [like a 401(k)], you can avoid current taxation by instructing your employer to roll the distribution directly over to another employer plan or IRA. With a direct rollover, you never actually receive the funds. You can also avoid current taxation by actually […]
Can the IRS Waive the 60-Day IRA Rollover Deadline?
If you take a distribution from your IRA intending to make a 60-day rollover, but for some reason, the funds don’t get to the new IRA trustee in time, the tax impact can be significant. In general, the rollover is invalid, the distribution becomes a taxable event, and you’re treated as having made a regular, […]
Grandparents Can Help Bridge the College Cost Gap
Assets in 529 plans reached $266.2 billion, spread over 12.7 million accounts, as of the second quarter of 2016. Source: College Savings Plans Network, 529 Report: An Exclusive Mid-Year Review of 529 Plan Activity, September 2016 For many families, a college education is a significant financial burden that is increasingly hard to meet with savings, […]
Tax Tips for the Self-Employed
Self-employed individuals make up 10.1% of the total U.S. workforce. Source: U.S. Bureau of Labor Statistics, March 2016 Being self-employed has many advantages — the opportunity to be your own boss and come and go as you please, for example. However, it also comes with unique challenges, especially when it comes to how to handle […]
Quiz: How Much Do You Know About Social Security Retirement Benefits?
Social Security is an important source of retirement income for millions of Americans, but how much do you know about this program? Test your knowledge, and learn more about your retirement benefits, by answering the following questions. Questions 1. Do you have to be retired to collect Social Security retirement benefits? a. Yes b. No […]
How can technology help me manage my money?
It may seem that there’s an app or software program for every purpose, and that includes managing your money. Here are some examples where the technology may be useful in helping you get a handle on your money. Creating a budget: There are multiple apps available that enable you to input your monthly income and […]
7 Estate Planning Resolutions for Clients to Make Now
Click the image below to download the full article. Given the uncertainty surrounding estate planning legislation, many clients may be reluctant to focus on their estate planning goals. I would argue that now is the perfect time to ensure that clients’ estate plans are in shape for whatever the future holds – and here are […]
The Great Unknown
Click image to download the full PDF. Danielle Andrus, Investment Advisor Our fearless forecasters share the highs, lows — and their worries — about 2017’s markets and economy. We head into 2017 facing a great deal of uncertainty. The Department of Labor’s fiduciary rule, finally released in April 2016 after six long years of theorizing […]
Revolutionary?
Click image to download the full PDF article. By Melanie Waddell, Investment Advisor It’s fair to say that 2017 will be a year like none other. On Jan. 20, the country swore in as President Donald Trump, who has promised a “new direction” for the country. Kellyanne Conway, Trump’s campaign manager who’ll also serve in […]
