Tag: retirement
How IRA Owners Can Donate to Charity in 2024
In 2024, owners of Individual Retirement Accounts (IRAs) have a great way to give back to their communities. If you’re 70½ or older, you can donate up to $105,000 directly from your IRA to a charity, under a Qualified Charitable...
Potential Private Retirement Benefit Information notices sent by SSA
The Social Security Administration (SSA) recently sent notices to social security filers regarding Potential Private Retirement Benefit Information. This notice informs recipients about potential retirement benefits earned from private employer plans, known as "deferred vested benefits". The IRS provided this...
SR Client Question: How do I handle taxes for my Health Savings Account (HSA)?
If you have a high deductible health insurance plan (HDHP), you're eligible to contribute to a Health Savings Account (HSA) up to the annual maximum limit. Often, employers also contribute to an HSA, but your total contributions cannot exceed this...
There’s more than just taxes to consider when choosing a retirement location
If you are nearing retirement age, a move to warmer climates or nearer to relatives might be in your plans. While lists of the "best" places to retire and rankings based on how states tax retirees are plentiful, and can be...
Understanding the key elements of the SECURE Act
The SECURE Act, signed into law recently, introduces significant changes impacting retirement and tax planning starting in 2020. Here are the key provisions affecting individuals: Repeal of Traditional IRA Age Limit: Individuals can now contribute to a traditional IRA regardless...
Getting retirement benefits abroad: What you need to know
If you plan on retiring overseas, it may still be possible to receive your retirement benefits while living abroad. Here's what the Social Security website advises: If you’ve worked in both the United States and another country, it may be possible...
Guest Author Lisa Zimmer: The final fiduciary rule has arrived . . . finally
The Department of Labor (DOL) on April 6, 2016, issued the highly anticipated final fiduciary rule. While the essence of the final rule remains the same as the rule proposed last year, it has been tweaked to address, or eliminate,...