Helping you move towards your goals

A married couple who files a joint tax return may be able to make a tax-deductible contribution to an IRA for a non-working spouse. This is a tax deduction that many taxpayers miss.

Understanding your options when you inherit an IRA is important because IRA money generally has never been taxed. This money passed on to your heirs will be taxed when they take the money out, and they must be in individual names and can't be jointly owned.

The SECURE Act, effective January 1, 2020, has ended the Stretch IRA for most adult non-spouse beneficiaries.

There are benefits to both the traditional 401k contribution and the Roth 401k contribution. The Roth contribution may be the most under-appreciated investing opportunity for the American taxpayer.

Yes, there is a way to designate a beneficiary on a non-IRA account and it is called a Transfer on Death agreement or TOD. Some financial institutions use the term Payable on Death or POD.

There are many mistakes that can be made when withdrawing money from retirement accounts. I call them Too Soon, Too Late, Too Little, and Too Much. Any of these violations can result in penalties in addition to taxes.