by Marvin Bales | Jan 5, 2020 | General, IRA, Retirement, Taxes
Perhaps both traditional and Roth IRAs can play a part in your retirement plans. IRAs can be an important tool in your retirement savings belt, and whichever you choose to open could have a significant impact on how those accounts might grow. IRAs, or Individual...
by Marvin Bales | Nov 25, 2019 | Retirement, Taxes
Are you aware of them? The federal government offers some major tax breaks for older Americans. Some of these perks deserve more publicity than they receive. If you are 65 or older, your standard deduction is $1,300 larger. Make that $1,600 if you are...
by Marvin Bales | Oct 12, 2019 | General, Taxes
Some alterations to the Internal Revenue Code were less publicized than others. Late last year, federal tax laws underwent sweeping changes. Nearly a year later, you can be forgiven for not keeping up with them all. Here is a look at some important (yet...
by Marvin Bales | Sep 22, 2019 | General, Taxes
What do you do with big money? Getting rich quick can be liberating, but it can also be frustrating. Sudden wealth can help you address retirement saving or college funding anxieties, and it may also give you the opportunity to live and work on your terms. On...
by Marvin Bales | May 12, 2019 | General, IRA, Retirement, Taxes
You may be able to use “72(t) distributions” to take penalty-free early withdrawals from retirement accounts. Do you need to access your retirement money early? Maybe you just want to retire before you turn 60 and plan a lifelong income stream from the...
by Marvin Bales | Feb 15, 2019 | General, Retirement, Taxes
How much attention do you pay to this factor? Will you pay higher taxes in retirement? Do you have a lot of money in a 401(k) or a traditional IRA? If so, you may receive significant retirement income. Those income distributions, however, will be taxed at the usual...
