We are often asked, particularly by younger clients, if it is better to make tax-deferred contributions or after-tax (Roth) contributions to their IRA or employer-sponsored retirement account. While there are many rules of thumb across the internet and financial media on this topic, it is...
As a former philosophy minor, I believe that there are yin and yang forces at work in the world. This Chinese concept of dualism (negative-positive, dark-bright) postures that these contrary forces may actually be complimentary. Perhaps it is a result of self-isolation, but...
Spousal IRAs allow married couples in which one spouse works and one does not to make IRA contributions to the account of the non-working spouse. Typically, in order to contribute to an IRA, you need to have earned income. Spousal contributions create a way around...
The Setting Every Community Up for Retirement (“SECURE”) Act was passed by the House over the summer and seemed to stall in the Senate until mid-December when it got attached to an end of the year spending bill. The SECURE Act is a significant piece...
With the changes to the tax code in the 2017 Tax Cuts and Jobs Act, many people who previously were able to take advantage of the charitable deduction through itemizing find that they no longer can do so. However, for clients who are over...
At long last the IRS has ended the debate over the legality of the “backdoor” Roth IRA. This subject has been widely debated in financial and legal circles for years. The subject was brought up again in December 2017 during the passage of the Tax...