Tax Strategies, Advice & Insights

TAX STRATEGIES, ADVICE, & INSIGHTS

5 Benefits of Working in Retirement

Posted by L&H CPAs on Apr 11, 2019 10:50:44 AM

In the past, retirement has been portrayed as an ending, a grand exit from your years in the workplace. But the rules are shifting. Labor force participation among those aged 65-74 is predicted to reach 32% by 2022, up from just 20% in 2002.1 As...

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Tags: Retirement Planning

Catch-up Retirement Plan Contributions Can Be Particularly Advantageous Post-TCJA

Posted by L&H CPAs on Dec 26, 2018 6:54:00 AM

Will you be age 50 or older on December 31? Are you still working? Are you already contributing to your 401(k) plan or Savings Incentive Match Plan for Employees (SIMPLE) up to the regular annual limit? Then you may want to make “catch-up”...

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Tags: Retirement Planning

It’s Not Too Late: You Can Still Set up a Retirement Plan for 2018

Posted by L&H CPAs on Dec 4, 2018 7:57:00 AM

If most of your money is tied up in your business, retirement can be a challenge. So if you haven’t already set up a tax-advantaged retirement plan, consider doing so this year. There’s still time to set one up and make contributions that will be...

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Tags: Business Owners & Entrepreneurs, Retirement Planning

Want to Retire Abroad? Review Your Estate Plan First

Posted by L&H CPAs on Oct 16, 2018 6:46:00 AM

If you dream of spending your golden years in a tropical paradise, a culture-rich European city or another foreign locale, it’s important to understand the potential tax and estate planning implications. If you don’t, you could be hit with some...

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Tags: Retirement Planning

Long-Term-Care Insurance with Tax Benefits

Posted by L&H CPAs on Aug 31, 2018 9:34:00 AM

No matter how diligently you prepare, your estate plan can quickly be derailed if you or a loved one requires long-term home health care or an extended stay at a nursing home or assisted living facility.

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Tags: Retirement Planning

Factor in State and Local Taxes When Deciding Where to Live in Retirement

Posted by L&H CPAs on Jun 28, 2018 12:33:38 PM

Many Americans relocate to another state when they retire. If you’re thinking about such a move, state and local taxes should factor into your decision.

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Tags: Retirement Planning

Apply for a Waiver If You’ve Missed the 60-Day Ira Rollover Deadline

Posted by L&H CPAs on May 1, 2018 9:39:45 AM

IRAs and employer-sponsored plans such as 401(k)s are powerful retirement savings tools, but they also provide valuable estate planning benefits. If you hold a traditional IRA for life, for example, your children or other heirs can stretch out...

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Tags: Retirement Planning

You May Need to Add RMDs to Your Year-End To-Do List

Posted by L&H CPAs on Dec 5, 2017 6:12:37 AM

As the end of the year approaches, most of us have a lot of things on our to-do lists, from gift shopping to donating to our favorite charities to making New Year’s Eve plans. For taxpayers “of a certain age” with a tax-advantaged retirement...

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Tags: Retirement Planning

Retirement Savings Opportunity for the Self-Employed

Posted by L&H CPAs on Nov 8, 2017 6:05:53 AM

Did you know that if you’re self-employed you may be able to set up a retirement plan that allows you to contribute much more than you can contribute to an IRA or even an employer-sponsored 401(k)? There’s still time to set up such a plan for...

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Tags: Retirement Planning

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