Required Minimum Distribution: IRS's Reminder That You're 70½

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As the saying goes, all good things must come to an end at some point. Unfortunately that includes the tax deferral you have received after years of delaying income tax on contributions to your 401(k) and IRA qualified retirement accounts. Distributions…

How to Properly Care for an Elderly Parent

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I recently experienced how frustrating the process of helping an aging parent through the bureaucratic nightmare of transitioning can be, after the loss of a spouse. About a year ago my father died. Calls were placed to various organizations to…

New Year, New IRS Rules and Regulations

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It wouldn’t be a new year if there weren’t changes put forth by the IRS. Now that tax season is in full swing, its time to take a closer look at what changes may affect you. With every change of the calendar year, the Internal Revenue Service…

An Introduction to Estate Planning

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By definition, estate planning is a process designed to help you manage and preserve your assets while you are alive, and to conserve and control their distribution after your death according to your goals and objectives. But what estate planning…

Wills, Trusts, Powers of Attorney and Beneficiaries

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Each year during tax season, most folks scramble to gather records on income and expenses. Of course, we all know that with just a little pre-planning it doesn’t have to be that way. Why not take time now to review your will, trust, powers…

Will We Ever Have Tax Reform?

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Let’s try to put some things into perspective. Governments have always needed revenues. So we pay taxes, and in the words of Supreme Court Justice Oliver Wendell Holmes, “taxes are what we pay for a civilized society.” Yet most of us discuss…

How I Spent My Summer Vacation

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There are numerous catch phrases around that speak to the activity of investing. One of the many oft quoted is, “Get out in May and stay away.” Over the last few months many of my clients were advised, based on their individual situations,…

Don't Wait to Take Advantage of Expiring 2012 Tax Laws

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Here we are almost halfway through 2012 and we still need to think about income taxes, both current and future items that are and will affect us. You may recall that The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation…
Medicare and Retirement Planning

Medicare Tax of 3.8% Set to Begin in 2013

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You may be hearing in the media about changes coming to Medicare in 2013. There are new Medicare-related taxes that are included in the recently enacted health-care reform legislation. These new taxes, which target high-income individuals and…

What Kind of Life Insurance Should I be Buying?

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Before you can decide what type of life insurance you need, you should first determine if life insurance is needed. Typically we buy life insurance to solve an economic need caused by the death of an individual most often in the role of family…