Blog

Inherited IRA Distributions Beneficiary Requirements

Individual retirement accounts, or IRAs, are a tax-advantaged way to save for retirement. If you have an IRA, you know that there is a stiff early withdrawal penalty for early withdrawals (before age 59 ½, with certain exceptions). You probably also… Read More
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Year-End Tax Planning for 2022

As of this writing, we are only about six weeks away from the end of 2022. If you have a lot to do before the end of the year, you’re not alone. And if year-end tax planning isn’t on your list, you may want to add it. It’s tempting to put off t… Read More
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Cost of Living Adjustment Numbers for 2023

The Internal Revenue Service recently announced the 2023 inflation adjustments for dozens of tax provisions. These cost of living adjustments affect everything from the standard deduction and marginal tax rates to contribution caps for health savings… Read More
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Talking With Your Elderly Parents About Financial Scams

Older people have a number of traits that make them both appealing, and vulnerable, to scammers. They have often accumulated a nest egg for their golden years. They are caring and generous, especially to their loved ones. They may not be tech-savvy.… Read More
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“Newman’s Own” Estate Plan Problems

Last month, we discussed the problems created by Anne Heche not having an estate plan in place before her death. This month, we bring the story of Paul Newman’s estate to illustrate another common estate planning mistake. More specifically, we will… Read More
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Medicare Open Enrollment Checklist for 2023

Autumn isn’t usually thought of as a time for new beginnings, but every fall, Medicare plan enrollees get the chance to start over—at least with regard to their healthcare coverage. During Medicare open enrollment (also known as the “annual ele… Read More
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Categories: Medicare, Uncategorized

What You Need to Know About REAL ID

Do you know what REAL ID is, and whether you need to get one? The REAL ID card has been in the works for nearly a decade, and many people already have one. But starting May 3, 2023, you may need one in order to board a flight or enter a secure United… Read More
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Categories: Uncategorized

Anne Heche Leaves an Estate With No Direction

Actor Anne Heche made recent headlines with a dramatic car crash into a house that resulted in her death after several days in a hospital on life support. Tragically, she left behind two sons, aged 20 and 13. The extent of her estate at the time of h… Read More
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What to Know About Portability

The months after the loss of a spouse are difficult for a variety of reasons, not the least of which is the grief of losing a lifelong partner. Of course, there is also the matter of administering the estate of a deceased spouse, which includes deali… Read More
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Required Minimum Distributions and the Qualified Charitable Deduction

As people move into their seventies, a couple of things are likely to happen. They may become increasingly charitably-minded, and, if they have a traditional IRA (not a Roth IRA), they will have to begin taking required minimum distributions (RMD) fr… Read More
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