Estates & Trusts

• Paying Estate Taxes

  If you believe your estate will be subject to estate taxes, consider how your heirs will pay the bill.

• History of the Federal Estate Tax

Retirement

• SEP IRAs

  A SEP IRA is a type of plan under which the employer contributes (up to a certain limit) to an employee’s IRA.

• IRA Rollover

  If you leave a job or retire, you should consider your options regarding your employer retirement plan assets.

• Self-Employed Retirement Plans

  Tax-deferred retirement plans for self-employed individuals have higher contribution limits than IRAs.

• Traditional IRAs

  If you do not participate in an employer-sponsored retirement plan, you might consider a traditional IRA.

• Save Now or Save Later

  If you start saving for retirement sooner, the more money you are likely to accumulate and possibly retire sooner.

• Roth IRAs

  Qualified Roth IRA distributions in retirement are free of federal income tax and aren’t included in gross income.

Tax Planning

• Capital Gain Tax

  Capital gains are profits realized from the sale of assets; a tax is triggered only when an asset is sold, not held.

• Estate Tax

  Everything you own, whatever the form of ownership, is subject to federal, and possibly state, estate taxes.

• Gift Tax

  The federal gift tax applies to gifts of property or money while the donor is living.

• Retirement Plan Limits

  IRAs and employer-sponsored retirement plans are subject to annual contribution limits set by the federal government.

• Required Minimum Distributions

  Required minimum distribution is the annual amount that must be withdrawn from a qualified retirement plan/account.

• Charitable Trust Tax Benefits

  For the grantor, there are a few potential tax benefits that can come with setting up a charitable trust.

• Retirement Plan Taxes

  With traditional IRAs and most employer-sponsored retirement plans, taxes are not payable until funds are withdrawn.

• Withdrawing Before Age 59.5

  Tax-deferred retirement account withdrawals before age 59½ generally triggers a 10% federal income tax penalty.

• Tax Deferral

  There can be a substantial benefit to deferring taxes as long as possible.

• Tax-Advantaged Investments

  Many traditional tax-advantaged investment strategies have gone away, but there are still some alternatives.

• Tax Deductions

  Changes to the tax code have left a few key deductions for itemizers, like medical, dental and some business expenses.

• Tax-Advantaged Alternatives

  While stable, CDs can create quite an income tax bill. Fixed annuities and municipal bonds can offer tax advantages.

• Tax Strategies for Retirement Plans

  Consider a trustee-to-trustee transfer to an IRA versus a lump-sum distribution from a workplace retirement plan.

• Tax-Free Investments

  It’s important to understand tax-exempt vehicles when establishing a comprehensive tax planning strategy.

• Mutual Fund Profits

  Want to keep more of your mutual fund profits? You may be interested in strategies to help lower your tax liability.

• Tax-Free Insurance Upgrades

  A 1035 exchange allows you to exchange your life insurance policy for one from another company without tax liability.

• United States Tax History

  American tax law is a constantly changing landscape. The latest major piece of tax legislation is the Tax Cuts and Jobs Act of 2017.

Investing

• Annuity Taxes

  One attractive feature of an annuity is tax-deferral but qualified and non-qualified annuities are taxed differently.

• Mutual Fund Taxes

  Mutual fund taxes can be cumbersome, but there are ways to help mitigate the amount of taxes you may owe.

• 529 Plans

  529 plans are tax-advantaged college savings plans that generally allow people of any income level to contribute.