As you prepare to start claiming benefits, be sure to ask yourself these questions. This year, about 67 million Americans will receive over one trillion dollars in Social Security benefits. If youʼre planning to join that total and claim your benefits, timing, strategy and sound decisions can all help you maximize the outcome for your […]
A versatile tool that can help enhance the benefits package you offer your employees. What is an NQDC plan? While nonqualified deferred compensation (NQDC) plans can vary slightly from one another, they generally act as an agreement between employers and employees to defer a portion of the employeesʼ annual income to a future date – […]
Dealing with inflation and a bear market as you near retirement. Itʼs hard to see your portfolio dip and not panic – especially as you near retirement. Coupled with record inflation, a dip might tempt you to sell your investments to drive cash flow. But long-term thinking even when nearing retirement is the key to […]
Practice makes perfect when it comes to retirement. Are you ready to retire? Are you sure? Think about it before you say, “Yes!” Most of us really look forward to the idea of well-deserved, unstructured free time. A time to do exactly what we please when we please – spend time with family, pursue hobbies, […]
Pass-through entities now have a more level planning field with businesses that benefited from the 2017 corporate tax reduction. You might recall that the Tax Cuts and Jobs Act, enacted in December 2017, reduced corporate tax rates from 35% to 21%. Given this notable boost to corporations, a coinciding change was made for pass-through entities […]
From withdrawals to conversions, taxes in retirement can be a balancing act. After a fruitful career and plenty of practice paying taxes, you may feel prepared for the tax man in retirement. But a review of your post-retirement taxable income may yield some surprising insights. Examining your position can help you design ways to optimize […]
Thoughtful, proactive planning can help high-earning taxpayers reduce their net investment income tax and additional Medicare tax bills. Every investor should have a thoughtful tax strategy, and for those that exceed certain income thresholds, proactive planning is all the more important. Individual taxpayers with modified adjusted gross income (MAGI) of $200,000 face a 3.8% net investment […]
It’s nice to own stocks, bonds, and other investments. Nice, that is, until it’s time to fill out your federal income tax return. At that point, you may be left scratching your head. Just how do you report your investments and how are they taxed? Is it ordinary income or a capital gain? To determine […]
Knowing these common legacy pitfalls can help your family avoid them. Family coach and author Roy Williams surveyed more than 3,000 families and found that over 90% of family wealth transfers fail by the end of the third generation. But in this context, what does “fail” really mean? A failed wealth transfer can mean several […]
Determining how to address substance abuse and addiction among your beneficiaries can be a sensitive and difficult decision. Planning to pass down your legacy often requires you to address difficult questions and make hard choices. One of the most challenging topics to consider is substance abuse, and, more specifically, how your plan will function if […]
The more money you have, the more complex planning becomes, which can lead to indecision and costly delays.
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