Posted by Richard on February 19, 2014
Many people don’t realize that they can be taxed on their Social Security benefits. The amount that could be federally taxable is based on your filing status and your “provisional income.” Your provisional income is determined by taking the sum of your wages, dividends, taxable and tax-exempt interest, pensions, and taxable retirement plan distributions. Added […]
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If you recently inherited retirement assets from a deceased loved one, it is important to pay attention to IRS rules that govern this type of bequest. Your options in managing this money typically depend on your relationship to the deceased and whether he or she had already begun taking required minimum distributions (RMDs) upon […]
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Even with the Affordable Care Act taking effect this year, health care costs continue to mount. According to a recent study, the average health care premium rate rose 3.3% from 2012 to 2013, while out-of-pocket costs — including co-payments, coinsurance, and deductibles — jumped an alarming 12.8%.1 Depending on the types of plans offered […]
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The alternative minimum tax (AMT) was originally created as a fallback tax for wealthy taxpayers who avoided regular taxes by claiming many exemptions and deductibles. Now, however, more individuals are finding themselves subject to the AMT. The mechanics of the AMT are complex. But a general understanding of how the tax works can help […]
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You probably understand that an IRA can be an effective way to save for retirement. But did you know that it can also be an effective estate-planning tool, allowing you to transfer wealth to future generations while reducing, deferring, or even eliminating income taxes on your retirement savings. Transferring wealth with a multigenerational “stretch” […]
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Over half of American retirees expect to leave an inheritance for their loved ones, with an average value of more than $176,000.1 If you have recently received a bequest or are anticipating inheriting sizeable assets, now is the time to plan. Here are some tips to help you manage an inheritance. • Wait […]
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As technology continues to evolve, so too have the skills of cyber-criminals, who have honed their ability to break through firewalls, stealing valuable personal data and funds. What steps can you take to better secure your valuable personal and financial data when banking online? Consider the following six tips as important baseline checks. Tip […]
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Investment risk comes in many forms, and each can affect how you pursue your financial goals. The key to dealing with investment risk is learning how to manage it. This three-step process will show you how. Step One: Understand Risk • Fear of losing some money is probably one reason why people may choose […]
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