Unlocking The Implications Of The SECURE Act

2019-12-30 09_40_23-Grayscale Photography of Combination Lock · Free Stock PhotoThe long-awaited Setting Every Community Up for Retirement Enhancement (SECURE) Act has been passed by Congress and signed by President Trump – and several of its many provisions affecting 401(k)s, IRAs, annuities and more take effect as soon as 2020 begins. So what are the new rules of retirement saving? Today’s article outlines some of the most important provisions of the SECURE Act, including changes to the rules governing required minimum distributions (RMDs) which one retirement expert states “could provide tax benefits to some and tax hurdles for others”. For more, CLICK HERE.

How To Avoid Having Your Retirement Devastated By The “Tax Time Bomb”

2019-03-30 21_11_49-Eventually everything hits the bottom... _ HD photo by Aron Visuals (@aronvisualIt’s an unwelcome surprise for many retirees: having to pay more taxes in retirement than when they were working. In fact, one financial security expert cited in today’s article warns that “tax-deferred retirement accounts such as a 401(k), IRA, or 403(b) can be like sitting on a tax time bomb”. What are the two main reasons Americans are paying higher taxes in retirement than when they were working, why is the tax burden on retirees likely to only worsen from here, and what’s one strategy that can help avoid the tax time bomb? CLICK HERE.

Maximizing The Value Of – And Minimizing The Taxes On – Your Employee Stock Options

2018-09-09 20_11_35-10+ Engaging Erase Photos · Pexels · Free Stock PhotosHaving an employee stock option plan is a fortunate position to be in as, if well-managed, these plans can fund major financial goals, including retirement. However, the author of today’s article cautions that “Stock option plans are often misunderstood and choices are often made that leave people paying substantially more taxes on this employee benefit than is absolutely necessary. Small mistakes could result in hundreds of thousands of dollars in extra taxes due, in some cases.” So how can you maximize the value of your company stock options – and navigate the “crazy taxation” that surrounds them? CLICK HERE.

Getting Your Tax Withholding In Retirement Just Right

2018-04-29 16_17_50-Free stock photos of gold · PexelsWhen it comes to withholding taxes in retirement, the author of today’s article advises that you want to withhold just the right amount: over-withhold and you miss out on earned interest; under-withhold and you risk getting hit with a penalty tax by the IRS. However, despite the importance of getting your withholding as close as possible to your actual tax liability, the author notes that “Many upcoming retirees aren’t quite sure how taxes in retirement are calculated.” As such, they outline some sample calculations showing how to calculate your tax withholding in retirement. CLICK HERE.