Sunwook Jin, CFP®, CRPC®, CMFC®, EA In its simplest form, a retirement plan can be split up into two parts, the accumulation phase, and the distribution phase. The goal is that you start early in the accumulation phase, so you don’t need to skimp on the distribution phase. If you plan very well you may … Continue reading Could Your RMD Age Be Pushed Back Again?
Bill Gordon, AIF® At the White House on November 15th, President Biden signed a $1T bipartisan infrastructure set to enable enhancements for transportation and utilities over the next five years, while adding jobs to many parts of the country. There will be a myriad of different areas that will hopefully see plans come to fruition. … Continue reading Infrastructure Bill Signed by Biden
Sunwook Jin, CFP®, CRPC®, CMFC®, EA The Internal Revenue Service (IRS) announced new contribution limits for 2022. While some limits stayed the same there were some changes to note. We’ll go over some here but be sure to keep an eye out for our yearly Tax-at-a-Glance handout that is always handy to have. Let’s start … Continue reading 2022 Contribution Limits Announced
Sunwook Jin, CFP®, CRPC®, CMFC®, EA President Biden’s Build Back Better plan and potential tax law changes has raised some questions. If you turn on the news, it’s hard to go one broadcast without hearing speculation about it. One of the main talking points is “Will there be an adjustment to capital gains taxes?” There … Continue reading Will Taxes on Capital Gains Change?
Bill Gordon, AIF® As we near the end of the year there are going to be some opportunities to make sure you get your finances in order. It’s important to check off your annual financial to-do list. There are a few other money moves to be aware of as we come to a close on … Continue reading More Year-End Money Moves
Sunwook Jin, CFP®, CRPC®, CMFC®, EA Most likely, you’ve heard what’s brewing in Washington, D.C. regarding taxes. It seems to be in the news every day. The Build Back Better Act, the $3.5 trillion budget reconciliation bill, or the Jobs and Economic Recovery Plan for Working Families, whatever you know it as you know it … Continue reading Taxes May Be Changing, Will Yours?
Bill Gordon, AIF® The federal government has upgraded its Child Tax Credit. Thanks to the American Rescue Plan Act, there are four notable differences in effect for the 2021 tax year only.1 First, the Internal Revenue Service is paying many families who qualify for the CTC 50% of their credit before 2021 ends. Second, the … Continue reading The Expanded Child Tax Credit
Sunwook Jin, CFP®, CRPC®, CMFC®, EA The 2015 Obergefell v. Hodges Supreme Court decision streamlined tax and estate strategizing for married LGBTQ+ couples. If you are filing a joint tax return for this year or are considering updating your estate strategy, here are some important things to remember. Keep in mind, this article is for … Continue reading Tax & Estate Strategies for Married LGBTQ+ Couples
Sunwook Jin, CFP®, CRPC®, CMFC®, EA Recently, you may have seen headlines regarding the Securing a Strong Retirement Act, also referred to as the second version of the SECURE Act, or SECURE Act 2.0. As the bill moves from the House of Representatives to the Senate, many hopeful investors are anticipating further retirement support as … Continue reading Are You Ready for the Second Act of the S.E.C.U.R.E. Act?
Sunwook Jin, CFP®, CRPC®, CMFC®, EA Now and again, the price action on Wall Street can surprise even the most seasoned investors. Look no further than when President Biden in late April proposed an increase in the tax on capital gains to 39.6% from 20% for those Americans who earn more than $1 million. Stocks … Continue reading Debate Starts on Capital Gains Tax