Many of the TCJA's provisions will expire at the end of 2025 unless Congress extends them. Given the political uncertainty, some wealthy households may wish to revisit their estate plans over the next year and consider pulling forward planned bequests to take advantage of the greater lifetime exemption.
By embracing these tools, you can save time and money and gain better control over your finances. You will also reduce the odds of being the victim of identity fraud. If the list feels overwhelming, start slowly and choose tools that align with your specific financial and privacy goals and comfort level with technology.
Introduced in 1998, the Roth IRA revolutionized retirement saving, offering tax-free investment growth. Over the last 25 years, limits increased, income caps adjusted, and conversion rules eased, making it attractive to savers at all levels. Now, investors have five avenues to leverage Roth accounts for tax-free compounding.
This is among the most common questions we receive from clients, many of whom are either already retired or nearing retirement. It is an important issue and one that often prompts investors to seek out professional help from an advisor.
Whether you're embarking on the quest for a financial adviser for the first time or have been working with one for years, it's beneficial to grasp the primary categories and what these professionals can offer you.
QCDs (Qualified Charitable Distributions) are not widely utilized but can be very beneficial to taxpayers aged 70 1/2 or older, who are charitably inclined and carry high IRA balances.