Introduction to Trump Accounts
One of the provisions of last year’s extensive tax bill was the addition of a new investment option for children. While they were created under Section 530A of the Internal Revenue Code, these new accounts have come to be known more informally as “Trump accounts”. Now that these accounts have gone live as of July 4, this post will provide an overview of how these accounts work, as well as information on other options for saving or investing on behalf of a child...
Who Will Inherit Your Retirement Accounts and the Tax Bill They May Inherit Too
During estate planning it is easy to focus on who will inherit your assets and assume that equal shares automatically result in equal inheritances. However, when it comes to retirement accounts, this is not necessarily true. A Traditional IRA and a Roth IRA may carry identical ...
The Mega Backdoor Roth Strategy
Have you ever considered what you can do to save more on a Roth basis outside of your typical direct or backdoor Roth IRA contribution? For many high-income earners, $7,500 ($8,600 if age 50 or older) to a Roth IRA just is not enough, and many wish they could save ...
Why is the Stock Market Going Up?
The most common question we are hearing right now from clients regarding their investments is “how is this happening?” Despite engaging in a war in the Middle East, historically high oil prices, and low levels of consumer confidence and investor sentiment, ...
Life After Work: How to Build Purpose in Retirement
We all dream about the day we no longer have to clock in to work and can finally enter retirement, but how often do we think about what we will do with our time in retirement? According to S&P Global, by 2030, over 20% of the U.S. population will be age 65 or older. ...
Overview of United States Income Taxes
As the 2025 tax filing season is upon us, many people feel stressed about getting income tax returns completed correctly and on time. This article will provide an overview of how federal income taxes work in the United States. ...
