How do you know if your investments go through probate? When a person dies, what is left behind is an estate. Contrary to popular belief, this includes everyone, not just the rich. Whether a deceased person had significant wealth or was of more modest means, they are likely to leave behind assets and liabilities that […]
IRS tax Form 5500-EZ is usually required for one-participant plans like Individual 401k plans. This type of plan is often called a Solo 401k. When a small business is considering a retirement plan for their employees, there can be some big obstacles to overcome. Small businesses are often short on time and money. A retirement […]
Is a Coverdell Education Savings Account right for you? With so many college savings options, it’s hard to know which accounts to use. The first thing to realize is that the various accounts out there are not in competition with each other. In fact, they complement each other. There are important differences between these accounts, […]
With just days remaining in 2022, SECURE Act 2.0 is here. If there’s any constant in retirement planning, it’s change. As soon as you make financial plans based on current laws, they change. It’s like deja vu all over again. The first SECURE Act became law in the final days of 2019. The Setting Every […]
Putting together a college savings plan can be daunting. The rapidly rising cost of higher education can be intimidating, but don’t let the numbers scare you off. According to the College Board, the average per year cost of a private four-year college is $39,400 compared to $10,950 for a state school. If college expenses continue […]
We hear a lot about the need for diversification when talking about our investments. You know the expression “don’t put all your eggs in one basket.” In the investment world this most often refers to the idea that you shouldn’t put all of your investment in one stock. But what about taxes when planning for […]
Inflation is the increase in prices for goods and services during a period. It is measured by the Bureau of Labor Statistics (BLS) and reflected in the Consumer Price Index or CPI. In the U.S., average inflation rates were 3.27% between 1897 and 2022. Moderate inflation has existed throughout the natural economy of over 100 […]
Bitcoin and cryptocurrencies are receiving significant attention lately. The collapse of FTX and arrest of former CEO, Sam Bankman-Fried, has raised concerns about the safety of invested funds. In addition, the latest Bitcoin price is $16,914.10 as of 12/11/2022. That is down from $64,400 roughly a year before. It’s one thing to experience a significant […]
The American Rescue Plan Act of 2021 (Covid Relief Bill) is now the law of the land. President Biden signed the bill into law on Thursday, March 11, 2021. The United States House of Representatives passed the bill after the Senate made changes to the original bill. Congress passed The American Rescue Plan Act of […]
2023 Retirement Plan Limits have been released by the IRS. If there’s any constant with retirement planning, it’s change. Keeping up with these changes is key to ensuring maximum benefit from your retirement plan. At long last, there are finally changes to IRA and Roth IRA contribution limits for 2023. Additionally, 401(k), 403(b), 457 along […]
