Wondering whether it makes sense for you to relocate when you retire? Many clients dream about moving to a place where the pace is slower, taxes are lower, and the family is closer. Reporters at 24/7 Wall Street and USA Today looked at how far your dollars will stretch in each state. Generally, they conclude, […]
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Your Tax Reporting In The Mail Soon
It’s that time again! In preparation for the 2020 tax reporting season, here’s when to expect key tax mailings: Retirement Accounts: If you withdrew funds from your retirement, pension or annuity accounts in 2020, or received account distributions, you will be receiving Form 1099-R. If you made Qualified Charitable Distributions (QCDs), or gifts made directly […]
Americans Keep Moving To Florida, A Top Relocation Destination
No surprise here. Census data show that Florida remained the second most popular relocation destination in the United States for the 2010-2020 period (Texas garnered the top spot). Almost 3 million people relocated to Florida during that time frame. And in fact, the true number may actually be higher once data are updated to reflect […]
Tick, Tock. That’s The Sound Of Time Running Out On These 5 Smart Year-End Tax Moves
Tick, tock, tick, tock. Do you hear it? That’s the sound of time running out. But there is still time for a few smart year-end tax moves that can save you money. Here’s 5 great tax strategies to consider before year-end that can slash your tax bill: Max out your deductions by funding workplace retirement plans. The […]
Reduced RMDs Coming Your Way … But Not Until 2022
Here’s some good news for people nearing or already in retirement! In the future, you will be required to take less money from your retirement plans, but the new rules won’t take effect until 2022. That’s right. Required Minimum Distributions (or RMDs) will be heading downward starting in 2022, as the IRS recognizes that longer life […]
Are You Saving Enough? New Retirement Contribution Limits For 2021
Did you know that there have been a few small changes to the amounts you can contribute to your IRA, Roth IRA, SEP, SIMPLE or 401(k) starting January 1, 2021? We’ve summarized in the accompanying graph what changes – and what doesn’t – for next year. For the most part, annual employee contribution amounts for IRAs […]
Tax Filing Deadline October 15
Are your 2019 taxes still on extension? You have until Thursday, October 15 to file your return. For additional details on special circumstances that may affect your filing date, check here.
Will Your Tax Rates Go Up?
Taxes and the upcoming elections seem to be on everyone’s mind. Many clients are asking whether they should expect tax rates to go up in the future. That’s an impossible question to answer without consulting our crystal ball, but a peek into the past might help give that question some historical context. We can look at […]
Help! The IRS Hasn’t Cashed My Check Yet
You did everything right. You owed money to the IRS so you sent in a check before the deadline. Weeks have gone by, and they still haven’t cashed your check yet. What gives? This is the story we are hearing from more than a few clients. They sent some pretty big checks in to the […]
Is A Roth Conversion Right For You? 7 Things You Need To Know
We’ve been talking to several clients about doing a Roth Conversion before year-end. For some people, a Roth Conversion can be a great tax-saving strategy, but for others it could go down as a big mistake. Here’s some of the most common misconceptions about Roth Conversions, and what you absolutely need to know before you […]
About Mari Adam, CFP®
Mari Adam, Certified Financial Planner™ has helped hundreds of individuals and families build wealth and plan for a more secure financial future for over 30 years. Her advice has appeared in publications such as Wall Street Journal, Kiplinger’s, Money Magazine, Business Week, and CBS MarketWatch.
