From Stretch to Compressed: How the 10-Year Rule Is Transforming Inherited IRA Planning
The SECURE Act 2.0 legislation introduced significant changes to the required minimum distribution (RMD) rules for Inherited IRA accounts, particularly the 10-year distribution rule. As a financial planner, I've observed that these evolving regulations have been challenging for both professionals and clients to navigate.
Thinking Through A Taxable Brokerage Account Titling for Married Spouses with Large Age Differences
In today's post, we'll explore a specific planning consideration that arises for married couples with a significant age gap between spouses. We'll discuss why, in some cases, holding highly appreciated investments in individual or jointly owned taxable accounts might be preferable to simplifying account structures.
IRMAA and Medicare: Unmasking the Scary Surcharge for Retirees
Many retirees are unfamiliar with this spooky feature of Medicare, and today I aim to shed some light on this surcharge. While paying extra for Medicare isn't pleasant, our goal is to ensure you're not avoiding important financial planning that could trigger an IRMAA surcharge but prove highly beneficial in the long run.
Navigating Social Security Tax Withholding: A Guide to Form W-4V
I want to focus today on an often-overlooked aspect of the Social Security filing process that could be much easier: federal tax withholding. Many retirees are surprised to learn that their Social Security benefits are subject to federal taxes. In fact, up to 85% of benefits may be taxable, especially for our more affluent clients.
The Quadruple Tax Benefit of Health Savings Accounts for High-Income Earners
As a financial planner working with high-income clients, I often discuss the benefits of Health Savings Accounts (HSAs). While HSAs are typically described as triple tax-free, for high-income households they can effectively offer a quadruple tax advantage.