A divorce itself can be a complex and tight affair. Add retirement plans to your already complex divorce and you have lots of things to deal with. There is a term used in divorce cases known as deferred compensation. This…
A divorce itself can be a complex and tight affair. Add retirement plans to your already complex divorce and you have lots of things to deal with. There is a term used in divorce cases known as deferred compensation. This…
Roth IRAs and Roth 401(k)s allow individuals to make tax-free withdrawals in retirement by saving after-tax dollars. Rather than getting a tax break for saving the money, as with a traditional retirement account, Roth accounts result in tax savings later…
by Thomas D. Begley, Jr., CELA Medical Deduction – Client The IRS permits an income tax deduction for medical expenses. Medical expenses include qualified long-term care services. A taxpayer can claim an itemized deduction for unreimbursed medical expenses to the…
by Thomas D. Begley, Jr., CELA Grandchildren Many grandparents would like to leave something to their grandchildren. Frequently, the grandparents have not thought of this idea, but are enthusiastic when it is presented to them. One way to remember the…
The old idea of retirement planning being a “three-legged stool” still holds basically true, but it’s also a little more complicated than it used to be. Individual retirement accounts, or IRAs, have been a valuable tool for retirement and estate…
Charitable giving is a way to benefit a good cause while also earning tax advantages. However, there are ways to make charitable gifts even more advantageous, both during one’s lifetime and as part of one’s estate plan. One method is…
Charitable giving is a way to benefit a good cause while also earning tax advantages. However, there are ways to make charitable gifts even more advantageous, both during one’s lifetime and as part of one’s estate plan. One method is…
If an employer does not offer a 401(k), there are other investment options, including the traditional IRA and the Roth IRA Today, when it comes to providing a retirement plan for their employees, businesses large and small, have opted for…
MyRA accounts are a new type of government-backed starter retirement savings account, designed for people whose employers do not offer retirement accounts. As of now, anyone who has direct deposit for their paycheck can sign up and start saving. MyRA…
Everyone looks forward to retirement. It is a time when you can pursue what makes you truly happy, and spend a lot of quality time with your family. According to the United States Department of Labor less than half of the…