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2017 IRA Changes – What You Need to Know

Tuesday, January 10th, 2017 and is filed under Financial Planning Tips, Uncategorized

2017 IRA Changes and What They Mean for Your Retirement AccountEach new year brings change and 2017 is no different when it comes to keeping up with your retirement savings accounts. Here is what you need to know when it comes to 2017 IRA changes.

IRA Charitable Contributions

After age 70 ½, withdrawals from traditional IRAs are required and income tax may be due on each distribution. However, if you’re age 70 ½ and donate all or part of your distribution ($100,000 max) directly to a qualified charity you won’t owe tax on that transaction. Introduced as a temporary measure in 2006, this ruling was made permanent by an appropriations bill in December 2015. Read More

As the World Turns: Investment Advice for Women at Every Stage of Life

Thursday, November 17th, 2016 and is filed under Financial Planning Tips, Uncategorized

As the World Turns: Investment Advice for Women at Various Stages in LifeWomen lead enriched and diverse lifestyles these days, and funding those lifestyles can be challenging. Various options are offered to defer earnings and build wealth to see a woman through the many stages of her life. Consulting with financial experts is helpful, but there are some basic steps every woman should take to build her personal financial portfolio. Read More

IRS Announces 2016 401(k) & IRA Changes

Monday, November 2nd, 2015 and is filed under Annuity News, Uncategorized

401k Limits 2016With the promise of a new year comes many things: resolutions, a chance to start over, and, of course, new tax legislation. The Treasury Department announced its inflation-adjusted limits for retirement account contributions, phase out limits, and available deductions for 2016, providing new guidance for Americans in the important retirement planning phases.

Despite hopes of expanded limits and additional savings possibilities, the IRS is not doing taxpayers any favors. With the cost of living index not rising enough to trigger limit increases, many thresholds will remain the same year over year. Read More