It’s Time to Review Your Financial Planning Options

Fall is a good time to pause and review your financial planning strategy. A lot can happen in a year. If your personal life, market conditions or tax laws have changed, you may need to revise your long-term financial plans. Here are some retirement and estate planning considerations that may be worthwhile. IRS Proposal Threatens Discounts on Transfers of Family-Owned Business For Continue Reading

10 Midyear Tax Planning Moves Inspired by the PATH Act

Numerous tax breaks have been retroactively expanded for 2015 and beyond — or, in some cases, been made permanent — under the Protecting Americans from Tax Hikes (PATH) Act of 2015. Now that the dust from the new law has settled, individuals and small business owners can plan ahead with these 10 midyear tax strategies inspired by the recent legislation. 5 Tax Breaks for Individuals Continue Reading

New Rules for Certain Investment Advisers

After several years of processing, the U.S. Department of Labor (DOL) issued new fiduciary regulations on April 6. A previous attempt, back in 2010, was scrubbed when the investment community roundly criticized it as overkill. The new regulations seek to update the Employee Retirement Income Security Act (ERISA) enacted in 1974. Back then, the focus of ERISA was on traditional defined-benefit Continue Reading

April 1 Is an Important Date for Older Taxpayers with IRAs and 401(k)s

Did you turn age 70 1/2 in 2015? If so, an important date is coming up soon. By April 1, 2016, you must begin taking required minimum distributions (RMDs) from your traditional IRAs — or face a steep penalty. (Lifetime distributions don't need to be taken from Roth IRAs at any age.) A participant in a qualified retirement plan — for example, a 401(k) plan — must begin taking distributions by Continue Reading

Tackle Key Financial Issues as You Face Retirement

The Baby Boomer generation reached its peak in 1957 at an annual birth rate of about 4.3 million people. It's hard to believe that these Baby Boomers will turn 59 years old in 2016. An important rite of passage that comes with this age is that they'll soon be eligible to withdraw funds from their qualified retirement funds without incurring the 10% early withdrawal penalty. But this is just the Continue Reading

A Gift from Uncle Sam: Congress Passes the Extenders Package

This holiday season, taxpayers are receiving a "gift" from Washington, D.C. It's the Protecting Americans from Tax Hikes Act of 2015 or, simply, the PATH Act. It does more than just extend expired tax provisions for another year. The bipartisan deal makes about one-third of these tax provisions permanent. Many others have been extended for periods ranging from two to five years. The Continue Reading