Connections for Success

 

03.08.21

Keeping Your Financial Plan Aligned With Your Goals in Today’s Market Environment
James V. Petitpren, II

The extreme market volatility of the past months has left many investors wondering how their investment portfolios have held up during 2020’s rollercoaster ride. We believe that rather than just thinking about the status of your investment portfolios relative to certain short-term equity or fixed income benchmarks, investors should remain focused on the long-term rate […]

02.11.21

How a Charitable Remainder Trust Can Work as a “Stretch IRA” Substitute
Peggy Vyborny

Until recently, if you named someone other than your spouse as the beneficiary of your IRA or qualified retirement plan, that person would have the option of taking distributions over his or her life expectancy. This strategy, commonly called a “stretch” IRA, offered significant advantages by allowing distributions to be spread over decades. But the […]

01.22.21

Considerations Before You Begin Social Security Benefits
Thomas Kosinski

The full retirement age for Social Security benefits, also called “normal retirement age,” is generally between ages 66 and 67. The age was set at 65 for many years. In 1983, Congress passed a law to raise the age because people are living longer and staying healthier in older age. The law raised the age by […]

12.21.20

What Was Old Is New Again With the “Kiddie Tax”
Thomas Vance

The changes made by the 2017 tax law – referred to as the Tax Cuts and Jobs Act (TCJA) – subjected a child’s unearned income to the estate and gift tax rates. Previously, the “kiddie tax” applied the parents’ marginal tax rate to a child’s unearned income in excess of a certain threshold ($2,200 in […]

11.24.20

Year-End Tax Planning for Challenging Times
Justin L. Sylvan

The public health, social, political and financial upheaval of 2020 has given taxpayers plenty of reasons to focus on things outside of their taxes. Our “new normal” has given many taxpayers reasons to worry about their futures, not only regarding health and employment but also retirement savings and future tax rates. However, it is important […]

10.14.20

Nonqualified Deferred Compensation Plans Offer Important Benefits — And Some Notable Risks
Adam M. Levine

Nonqualified deferred compensation (NQDC) plans allow you to set aside large amounts of tax-deferred compensation — well beyond the contribution limits for 401(k)s and other qualified plans. Many NQDC plans also give you the flexibility to schedule distributions to align with your financial goals. However, NQDC plans also pose substantial risks, including loss of compensation […]

09.24.20

An Estate Plan Benefits You and Your Family
Jeffrey R. Green

Quick question: Who needs an estate plan? The answer is everyone, not just the affluent. While gift and estate tax liability is not an issue for most folks, most families can benefit from a comprehensive plan that divides their wealth, protects their well-being and provides a compass for the future. Asset distribution Estate planning is […]

08.14.20

Approaching Retirement? How to Deal With Market Volatility
Christopher Georgiou

The COVID-19 pandemic has wreaked havoc on financial markets and the general economy, providing swings in both directions. If you are approaching retirement, or are already retired, you may be worried about the effects of market volatility on your retirement portfolio. Here is how to adjust your investments — and possibly, some of your expectations. […]

07.30.20

Giving to Charity is a Little Sweeter in 2020
Jacqueline N. Janczewski

The Coronavirus Aid, Relief, and Economic Security (CARES) Act has temporarily created a new $300 charitable deduction for nonitemizers but also gives larger donors an opportunity to save more tax on their gifts. Here is what charitable donors need to know. Related Read: CARES Act Expands Financial Options for Impacted Plan Participants Limit suspended The CARES […]

06.23.20

Current Conditions are Favorable for Cost-Effective Wealth Transfers
Eileen Cozzi

The ongoing novel coronavirus (COVID-19) pandemic has taken a terrible toll on the economy. But the current low-interest-rate environment, coupled with depressed asset values, means that now may be a good time to transfer wealth to your children and grandchildren. Consider making gifts For 2020, the federal gift and estate tax exemption is an inflation-adjusted […]

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