Updated Guidance and Potential Changes from the IRS on the SECURE Act: The Inherited IRA Distribution Rule and the Five-Year Payout Rule

As you may recall, the SECURE Act was passed in late 2019 to apply in the years 2020 onward. Although complex, many of the rules around inherited IRAs were relatively straightforward up until very recently, that is. The IRS provided guidance on these SECURE Act provisions this year, surprising many, specifically around distributions and payouts on inherited accounts.

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Brandon Steele
What is Tax Loss Harvesting & How to Use It in Your Financial Plan

Finding opportunities to make the most out of difficult markets is key to long-term success. Just because an investment has dropped does not mean you can't make the most of the situation. Tax loss harvesting is a strategy we often use to do just that. When used properly, effective tax loss harvesting can increase the after-tax return you realize in your non-retirement accounts.

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Brandon Steele
What is Rule 72(t)?

With people living longer and retiring earlier, many face a challenge if most, or even all, of their assets are in traditional retirement accounts. Why? Because they can't take the money out if they do want to retire early! That's precisely where Rule 72(t) can come into play for early retirement.

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Brandon Steele
6 Key Reasons To Invest in a Roth vs Traditional IRA or 401(k)

Traditional advice suggests those with higher income should always invest in the traditional, pre-tax, side of the retirement accounts available, such as 401(k)s and IRAs. This general rule of thumb assumes that you will be paying more in taxes today than in retirement and that deferring taxes is always better. But, is this traditional advice still true?

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Brandon Steele
What is a TSP or Thrift Savings Plan?

Are you familiar with a TSP or Thrift Savings Plan? While many have heard of a 401(k) Plan, Federal employees are offered a Thrift Savings Plan (TSP). A TSP is a tax-deferred retirement savings and investment vehicle specifically designed for Federal government workers, including military workers.

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Brandon Steele
2022 IRS Retirement Plan Limits

2021 was another rollercoaster ride, and I think many of us are looking forward to what the new year will bring! As the year winds down, it’s a great time to reassess our financial situation and planning considerations. Every calendar year, the IRS adjusts contribution limits for retirement plans to account for inflation. As we look ahead, we again have some changes for 2022 retirement plan contributions.

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Brandon Steele
How to Handle Common Email Phishing and Spoofing Scams

In honor of International Fraud Awareness Week and with Cyber Security Awareness Month behind us, it seemed appropriate to write about what seems to be an increasing and ever-present threat looming out there on the internet. In fact, a number of our clients have had close calls with some sort of cyber security threat. Here are some common email phishing and spoofing scams, and how to handle the scam should it happen to you.

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Adam Laibson