You open an individual retirement account known as an inherited IRA on inheriting a tax-advantaged retirement plan like an IRA or 401(k). The heir needs to transfer such assets from...
Posted by Jim McClaflin, EA, NTPI Fellow on 07/24/2021
Divorce is a nightmare and messy process that people try to do away with as soon as possible. They hardly consider consequences on taxes, especially in the long run. Most times, it...
Posted by James Financial Services Inc on 07/17/2021
The loss of a loved one can lead to emotional burden and significant financial debt related to the settling of the estate. If you are the beneficiary of a retirement plan's assets,...
Posted by Karen Munoz, EA on 07/17/2021
If you lose or quit your job, your 401k retirement savings can come with you. There are options for your 401k funds when this happens, and one is to switch to an Individual Retirement...
Posted by Income Taxes and Bookkeeping LLC on 07/06/2021
Choosing a part-time retired job is an easy way to improve your retirement lifestyle. But before you start a retired job, we recommend that you check the numbers to see how your Social...
Posted by James Financial Services Inc on 06/25/2021
President Joe Biden presented his plan for American families in late April, one of three aspects of the Build Back Better program that guided the first 100 days of his presidency....
Posted by Tiffany Gaskin on 06/24/2021
So you are planning for retirement, and you don't know how to go about it? Investing in your 50s/60s is a time of transition. So stop focusing on fundraising for retirement. Instead,...
Posted by The TaxAdvocate Group, LLC on 06/18/2021
All high-income earners have a series of special tax considerations that can affect their annual tax burden by hundreds of thousands of dollars. But, unfortunately, many high earners...
Posted by Thomas G Kinsella, ATP on 06/18/2021
You probably already have an opinion on annuities. Maybe you are firm for or against them. However, it's also very likely that you don't know much about them and want to find...
Posted by Unifirst Financial & Tax Consultants on 06/18/2021
