Archive for Tag: financial advice

Health Savings Accounts: For Today and Your Retirement Years

If you are not contributing to your health savings account (HSA), you miss out on a great way to save for health care expenses now and during retirement. HSAs allow you to save money tax-free through payroll deduction. Like traditional investments, some HSAs provide fund choices to increase accumulations With...

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Understanding Individual 401(k) Plans

If you’re self-employed or own a small business, you’ve probably considered establishing a retirement plan. If you’ve done your homework, you likely know about simplified employee pensions (SEPs) and savings incentive match plans for employees (SIMPLE) IRA plans. These plans typically appeal to small business owners because they’re relatively...

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Inflation and Taxes Could Rise. Are You Ready for Retirement?

Americans are starting to see the impact of increasing prices at the supermarket and the start of inflation. Also, clothing at retail stores is depleting as manufacturing has halted, creating demand for products ordinarily accessible. Today’s economic conditions are much worse than coming out of the Great Depression. During periods economic...

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Crisis Preparation: Safeguarding Your Financial Future

Experiencing the death of a loved one and what can financially happen if not appropriately planned for is an unfortunate reality for many. Not having protection through insurance and legal documents can turn a tragic situation into a financial crisis. Having safeguards in place provides your family with the...

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2019 IRS Tax Filing & Retirement Account Contribution Extensions

COVID-19 has changed the deadline for 2019 tax filings and retirement account contributions to July 15th, 2020. The tax filing deadline change is part of the CARES Act (Coronavirus Aid, Relief, and Economic Security Act) stimulus package for tax payors. Additionally, the closure of Social Security offices, IRS tax...

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The CARES Act, RMD, and Hardship Distribution Changes

The CARES Act (The Coronavirus Aid, Relief, and Economic Security Act) became law on March 27th, 2020, and contains significant legislation for Required Minimum Distributions (RMD) for those over age 70 ½ who have already started RMD. Under previous IRS distribution laws, a minimum distribution from a pre-tax retirement...

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