Updated for 2021 Archives | Page 2 of 8

401(k) Plans Inheritance Tax & Estate Planning Tax planning Updated for 2021

Inherited a 401(k) From a Parent? Tax Planning for Distributions

If you've inherited a 401(k) from a parent, you likely have questions about your options for the account and the tax impact. Luckily, non-spouse beneficiaries usually have some control over how to manage an inherited 401(k) plan. However, as part of the Secure Act, most adults who inherit a 401(k)…

Kristin McKennaNovember 23, 2020

Retirement Planning Tax planning Updated for 2021

New IRS Contribution Limits for 2021

The IRS has released the 2021 contribution limits for retirement plans and other cost-of-living adjustments. (more…)

Kristin McKennaOctober 28, 2020

401(k) Plans Employee benefits Forbes Retirement Planning Tax planning Updated for 2021

Roth 401(k) vs Traditional 401(k): Investing Pre-Tax or After-Tax

Which is better, a Roth or traditional 401(k)? The central difference between a Roth 401(k) and traditional 401(k) is the tax treatment of your contributions. Investors make traditional 401(k) contributions before tax while Roth savings occur after tax. Which is best for you will depend on your current/future tax situation,…

Kristin McKennaOctober 26, 2020

Brokerage Account Investing Updated for 2021

What is a Brokerage Account? Reasons to Use a Brokerage Account

What is a brokerage account? A brokerage account is a non-retirement investment account. Essentially, a brokerage account is the opposite of a retirement account like an IRA or 401(k) in nearly every way. There are no restrictions (income, investment options, limited additions, access, etc.) or tax benefits. Because there are…

Kristin McKennaSeptember 28, 2020

Estate Planning Inheritance Tax & Estate Planning Trusts Updated for 2021 Wealth and Family

Inheriting a Trust Fund: Distributions to Beneficiaries

If you're inheriting a trust fund, you likely have questions about how the distribution payouts to beneficiaries work and the tax implications. While general information about how trust funds work is useful, there are limitations. Trusts can be complex, highly customizable tools, so what applies to one situation may not…

Kristin McKennaAugust 31, 2020

Early Retirement Retirement Planning Updated for 2021

Should You Take an Early Retirement Package? What to Look for in a Buyout Offer

Deciding whether or not to take the offer of a voluntary early retirement package or buyout from an employer is a big decision. Taking an early retirement, perhaps at 55 or 60 years old, can have a lasting impact on your finances, even when it's the right choice. If you've…

Kristin McKennaJuly 20, 2020

Brokerage Account Tax planning Updated for 2021

What You Need to Know About Capital Gains Tax

Updated for 2021. What is a capital gains tax? When you sell an asset like a stock or a home, your gain could be taxable. The tax rate will depend on several factors, such as your holding period, type of asset, and your taxable income for the year. Depending on…

Kristin McKennaJune 29, 2020

ISOs NQSOs Stock options Tax planning Updated for 2021

How Are Stock Options Taxed?

How are stock options taxed? If you have stock options or equity-based compensation as a large part of your income, the tax treatment of your stock options is especially important. How stock options are taxed depends on the type of options you have (incentive or non-qualified) and your sale and…

Kristin McKennaJune 24, 2020

Brokerage Account Cash Management Debt Management Financial Planning Infographics Investing Updated for 2021

What To Do With Excess Cash: 7 Ways to Use Extra Savings

What should you do with excess cash? If you are holding too much cash, consider how to use the extra money to your benefit. If you have extra cash in the bank, you may be wondering if you should invest the money or pay down debt. Assuming you already have…

Kristin McKennaMay 27, 2020