Planning for your retirement is pivotal in taking a hold of your financial future. It also means staying up to date with any new considerations for your tax-advantaged plans. The IRS recently announced new annual contribution limits for the 2022 tax year. Let’s take a look at some key contribution information for the 2022 tax … Read More
Before German countess Karlotta Liebenstein died in 1922, she made sure that her fortune would end up where she wanted it to go—to her german shepherd, Gunther I. Now, six generations later, his progeny Gunther VI is still enjoying his ancestor’s fortune. If you don’t name a retirement beneficiary—or worse, you have an outdated beneficiary … Read More
US taxpayers are sitting on $1.35 trillion in forgotten 401(k)s. That’s right–not million, not billion, but trillion. A shockingly high number, yet with over 24 million forgotten 401(k) accounts, one can begin to understand the scope. For many, switching careers is the culprit. The average employee stays with a company for around four years before looking … Read More
As the contribution deadline for those employers who have filed an extension is on October 15, we are addressing a few frequently asked questions to help you determine if a Simplified Employee Pension (SEP) Individual Retirement Account (IRA), better known as the SEP IRA, is right for you. What is a Self-Directed SEP IRA? According to the IRS, … Read More
The House of Representatives’ Committee on Ways and Means has put forth legislation that could significantly impact Individual Retirement Accounts — particularly self-directed IRAs. As of early October 2021, two of the several proposed changes would greatly limit an individual’s investment options, and both changes are specifically targeting self-directed IRAs. Let’s take a closer look at these two proposed changes and consider the impact to the self-directed IRA investor. … Read More
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