Extended Tax Due Date Just Around the Corner Article Highlights: Extended Due Date Funding Retirement Plans K-1 Due Dates Late Filing Penalty Interest on Amount Due If you could not file your 2016 tax return by the normal April due date and requested an extension, be aware that the final due date for your tax […]
Planning Your RMD and IRA Distributions for 2015
Article Highlights: Under Age 59.5 Penalty Age 70.5 Mandatory Distribution Age Impact on Social Security Income Required Minimum Distributions Under-Distribution Penalty Penalty Waiver Other Pension Plans We spend most of our lives saving for retirement by putting funds away in tax-advantaged ways. But many of us forget about planning the withdrawals so that they are […]
Have You Reviewed Your Will or Trust Lately?
Your will or trust was prepared so that your assets will be distributed according to your wishes after your death. These documents can also reduce estate taxes. However, certain events can cause these documents to become outdated and create family stress and unpleasant tax results. Revised tax laws and life’s ever-changing circumstances make estate planning […]
What Happens When Social Security Funds Run Out?
Article Highlights: Without Congressional action, Social Security will become insolvent in 2033. Benefits could shrink to 77% of the current levels and/or payments could be delayed. Individuals need to take proactive steps to supplement Social Security. This subject comes up over and over again and Congress keeps kicking it down the road, not wanting to […]