Connections for Success



Approaching 65? Get Up to Speed on Medicare
Peggy Vyborny

Managing health insurance costs is a key component of retirement planning. Medicare eligibility generally starts at age 65. But, given the number of decisions that you will need to make about the timing and scope of coverage, it is a good idea to start preparing well in advance. Medicare is complex and navigating the many […]


Working Remotely? Watch Out for Double Taxation
Colin O’Neill

More people are working remotely these days and that trend seems unlikely to change even after the pandemic is over. Remote work can be convenient. However, it raises the risk of double taxation if employees work in different states from their employers. Here is what you need to know — and what you can do […]


Preparing for New Cryptocurrency Reporting Rules
Adam J. Pechin

If you have invested in cryptocurrency (for example, Bitcoin or Ether), nonfungible tokens (NFTs) or certain other digital assets, it is important to familiarize yourself with the new tax reporting requirements that take effect in 2023. The new rules will not increase your taxes. Instead, they are designed to help the IRS identify unreported digital […]


Trusts – What Is the Hype?
Tanya Gierut

Whether you are trying to protect your assets from possible creditors, prevent young heirs from spending their inheritance or minimize estate taxes, there is likely a trust for you. Here are several strategies that can help you achieve your estate planning goals. Protecting assets from creditors A trust can be a great way to protect […]


Your Investment Strategy: Active, Passive or Both?
Christopher Georgiou

Stock market volatility during the last couple of years has reignited a long-running debate over active versus passive investing. Both strategies have supporters and critics and many experts advocate combining both approaches in a portfolio. As with most investment choices, the right strategy for you will depend on several factors, including your financial goals, investment […]


Working Remotely From “Out of State” Can Be Taxing
Dan Newman

The COVID-19 pandemic has required many people to work remotely, either from home or a temporary location. One potential consequence of remote work may surprise you: An increase in your state tax bill. During the pandemic, it has been fairly common for people to work remotely from another state — across state lines from the […]


Oops, You Overfunded Your 529 Plan
Eileen Cozzi

Some might consider it a good problem to have: Saving too much money for college. But if the money is held in a Section 529 college savings plan, there could be tax consequences to overfunding the account. The tax man giveth 529 plans are tax-advantaged accounts designed to help families save money for college education […]


2022 Priorities for Mitigating Family Office Cybersecurity Risk
Matthew L. Weiskopf

Over 50% of ultra-high net worth family wealth is being managed through family offices, yet even the largest family offices lack the security resources of most banks and large corporations. This makes them a huge target for cybercriminals and cyber threats are becoming more pervasive for family offices of all sizes. Not surprisingly, cybersecurity is […]


Prepare for IRS Plans To Increase Tax Audits
Thomas Kosinski

In recent years, the IRS has audited only about 0.5% of individual income tax returns. Their audit choices have been more high net worth returns and larger companies with more tax issues. But based on recent tax legislation, President Biden and some legislators have targeted more IRS funding to help close the tax gap — […]


Minimizing Taxes on Employer Stock in Your 401(k) Plan
Colin O’Neill

If you are approaching retirement and your 401(k) plan contains significant holdings in appreciated employer stock, you may be able to minimize your tax liability related to that stock. This strategy, which takes advantage of the net unrealized appreciation (NUA) rules, is not right for everyone, but it is worth exploring before you start withdrawing […]

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