Inherited IRAs have been in the news of late. Whether you are planning to leave your IRA to someone or you receive someone’s IRA, planning includes understanding the legislative rules that will apply. The Secure Act of 2019 mandated that certain heirs must withdraw all money from an inherited IRA within 10 years of the original account […]
It’s been some time since I’ve written about beneficiary designations. Beneficiary designations are often overlooked or forgotten, and that can result in complications for everyone. Today, let’s review why beneficiaries are important, what types of accounts typically ask you to designate a beneficiary, and what to think about when designating beneficiaries. A beneficiary is defined
Q4 2025 is here! It can be a godsend to have experienced people to contact about financial planning for the “golden” years. Today, I’d like you to meet Mark Maimon, Mortgage Branch Manager, The Mark Maimon Team, a division of Luminate Bank, for this quarter’s Advisory Perspective Series. Mark’s bi-coastal team is licensed in all
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FAFSA Changes were announced this week for the 2026-2027 academic year. StudentAid.gov announced the free application form is in beta testing and is scheduled to be released Oct 1st. The 2nd phase of beta testing is underway through September 2025. Anyone can request to be a beta tester. Otherwise, you can submit your application form
The recent legislative action passed by Congress references a senior tax credit. Let’s take a look at the details of this bill to help you understand what this senior tax credit is. GoBankRates published an article this week that recaps this well. An important point they reference is that the senior tax credit is subject
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April is financial literacy month. As finances are in the news of late, I thought I would address financial literacy across different life stages in this post. Photo by Markus Winkler on Unsplash Building Financial Literacy at Every Life Stage April marks Financial Literacy Month, giving us all a perfect opportunity to reflect on our
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We covered Social Security and Medicare a few weeks back. Changes appear to be on the horizon for Social Security recipients, which may require more in-person office visits or the use of online tools. The changes mostly impact two groups of people: those seeking Social Security benefits for the first time and current recipients who
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Happy Groundhog Day! It’s here – tax season opened on January 27th for individual filers in the United States. Here is information about what to know before you file to get you in the “mood”! The IRS has created a page called Get Ready to File Your Taxes reminding us that tax planning is for
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It’s that time of year … the IRS announced tax brackets for 2025. Every fall, the IRS announces inflation adjusted tax brackets for the following year to protect us from inflation pushing us into a higher tax bracket. US inflation is lower than it’s been in three years and the IRS annual adjustment is smaller
In case you haven’t heard, there are some tax provisions set to expire in 2025 if Congress takes no action. August is upon us, and we have four months left in 2024. Take a look at what may expire and prepare accordingly. The Tax Cuts and Jobs Act (TCJA) of 2017, signed into law, is
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