As a way to compensate, retain and attract employees, many companies issue stock options. With an employee stock option plan, you are offered the right to buy a specific number of shares of company stock, at a specified price called the grant price, also known as the strike or exercise price, within a specified number […]
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Attention Taxable Accounts! Despite Losses, You May Incur Sizable Capital Gains Tax Let’s get right to the point, like any investment, if you buy a mutual fund, own it for more than one year, and sell it at a profit, you must pay federal (and for most states) capital gains tax on your gain. Yet many […]
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What is a 529 Plan? A 529 plan is a tax-advantaged investment vehicle in the U.S. designed to encourage saving for the future higher education expenses of a designated beneficiary. The name “529” comes from Section 529 of the IRS tax code, which gives these plans special tax breaks to encourage saving for education. Sponsors include states, […]
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Taxes, Stock Market Risk and Longevity Risk. A generation ago your parents had pensions, but that’s changed. Over the past 35 years that has changed and we have moved to 401k’s. You need to create your own pension. Losing money in the market is inevitable it’s only a matter of time. If the market tanks […]
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Offering an employer-sponsored retirement plan can be beneficial, but it may require an administrative and financial commitment. A SEP IRA or SIMPLE IRA may be easier, lower-cost alternative to operating other types of retirement plans. Advantages of offering a SEP or SIMPLE IRA include: Employers can help employees set up their IRAs The plans are […]
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The Benefits and Side Effects Benefits of Roth Conversions If future tax rates increase, tax-free Roth IRA income will be more valuable. Roth IRAs remove the uncertainty of what your future tax rates might be. RMD Benefit – Roth IRAs have NO RMDs during lifetime……. Also, there are no RMDs for a spouse who moves inherited […]
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According to the report Giving USA, U.S. families and individuals give an average of more than $1 billion to charity every day—a major force for addressing important needs in our communities. The value of giving is also recognized by the U.S. tax code, which provides a variety of tax incentives to support those who wish […]
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Health savings accounts offer another way to help investors save for retirement. An HSA is a tax-favored account that works with an HSA-qualified high-deductible health insurance plan. HSAs can be a powerful health care planning tool, but they’re frequently overlooked as an effective way to help save for retirement. How HSAs Function Despite being available […]
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For most people, deciding on the life insurance they need for themselves and loved ones is like getting a tooth pooled without any anesthetic. This educational article was created so you can Make Life Insurance Simple. It comes down to knowing how to anticipate and manage risk. It’s a skill that’s even more important when it comes […]
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There are now more than 40 million Americans over the age of 65, and that number is increasing at a steady pace. With greater longevity, the availability — and complexity — of federal programs created to assist the aging population is also growing. That’s where an elder law attorney can help. An elder law attorney, sometimes […]
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