Author: Carrie

One measly dollar can have more impact than you’d think—especially during tax season. Not only can an extra dollar of income push you into the next highest tax bracket (thankfully, with a progressive tax system, only those excess dollars will be subject to the higher...

RETIREMENT & LONGEVITY How your retirement savings can continue working for you. You’ve spent many years saving in preparation for retirement. You’ve planned strategically to get here and have secured the resources necessary to ensure lasting comfort for yourself...

RETIREMENT & LONGEVITY Three things to keep in mind once higher Social Security benefits start rolling in. Retirees will get their biggest “raise” from Social Security in 40 years. The cost-of-living adjustment, often called COLA, came in at 8.7% for 2023,...

ESTATE & GIVING Qualified charitable distributions allow your required IRA distributions to benefit a worthy cause – while you benefit from a reduced tax liability. Helping others when you’re gone is a noble and rewarding aspiration. But think how much more...

Required minimum distributions, often referred to as RMDs or minimum required distributions, are amounts that the federal government requires you to withdraw annually from traditional IRAs and employer-sponsored retirement plans after you reach age 73 (if you attain...

Background The Pension Protection Act of 2006 first allowed taxpayers age 70½ or older to make tax-free charitable donations directly from their IRAs. Technically, these taxpayers were allowed to exclude from gross income otherwise taxable distributions from their IRA...

RETIREMENT & LONGEVITY Learn how to get the most from your hard-earned benefits. There’s no doubt about it. Filing for Social Security can be daunting. There’s a ton of information – and misinformation – to weed through, as well as the need for some calculations...

ECONOMY & POLICY Changes for investors include RMD age increases, higher catch-up contribution limits and a new 529 transferal option. Passed in December 2022, the SECURE Act 2.0 includes a comprehensive set of provisions intended to help many Americans and...

What is an IRA distribution? A withdrawal from an IRA is referred to as a distribution. Distributions can come in the form of several payment patterns, from a one-time (lump-sum) payment to a series of distributions over a number of years. Depending on how old you are...