Will My Social Security Benefits Be Taxed? – Annapolis and Towson Estate Planning
Uncle Sam is not the only one looking for a piece of your retirement income. Is your state on this list?
What Should Small Business Owners Know about Estate Planning? – Annapolis and Towson Estate Planning
Small business owners have their hands overflowing with issues, and they devote most of their time to matters related to the smooth running of the business. Having no time to think about other matters, they do not bother about estate planning for them.
Make the Most of a Roth IRA, Even If You’re Not Ultra-Wealthy – Annapolis and Towson Estate Planning
For traditional 401(k) plans and IRAs, you generally get a tax break when you make contributions and then pay taxes on the withdrawals in retirement. In contrast, Roth versions of those accounts come with no upfront tax break, but qualified withdrawals are excluded from federal income taxes.
Are Roth IRAs Smart for Estate Planning? – Annapolis and Towson Estate Planning
Here are some of the reasons Roth IRAs make sense for 2021 and likely beyond.
What are the Big Tax Penalties to Avoid in Retirement? – Annapolis and Towson Estate Planning
Protecting a nest egg is tough enough. Don't make the situation far worse.
Estate Planning Meets Tax Planning – Annapolis and Towson Estate Planning
By being very selective about who receives which type of money—whether Traditional or Roth IRAs, after-tax brokerage accounts, life insurance, etc.—you can dramatically cut the share that goes to the IRS and increase the amount going to your family.
How to Make Beneficiary Designations Better – Annapolis and Towson Estate Planning
Beneficiary mistakes can result in retirement plan assets being transferred to unintended beneficiaries.
Is there a Better Plan than a Reverse Mortgage? – Annapolis and Towson Estate Planning
Using the equity in your residence is a method many people use to raise cash. There are several methods that a homeowner may use to tap into this income vein, but some may be better suited than others. One popular option—that often fills the airwaves with commercials—is the reverse mortgage. However, while popular, this may not be the best choice for many homeowners.
Do I Qualify as an Eligible Designated Beneficiary under the SECURE Act? – Annapolis and Towson Estate Planning
What Is an Eligible Designated Beneficiary?
Should I Borrow from my 401(k) during the Pandemic? – Annapolis and Towson Estate Planning
Is it ever OK to borrow from your 401(k) plan, either as a 401(k) loan or a hardship withdrawal? After all, your plan is a powerful retirement savings tool and should be carefully husbanded.