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IRS Releases 2022 Retirement Account Contribution and Contribution Deduction Limits

2021-11-19T13:10:47-05:00November 5th, 2021|Blog|

IRS Releases 2022 Retirement Account Contribution and Contribution Deduction Limits By: Margaret Nickens The IRS released the 2022 contribution limits and deduction income limits for IRAs, 401(k)s, and other retirement accounts. While there's some disappointing news in the batch, there's definitely some increases to celebrate. The Bad News The IRS is not increasing contribution limits [...]

How to Survive a Bear Attack: 6 Strategies for Embracing a Stock Market Downturn

2021-11-01T13:44:55-05:00September 27th, 2021|Blog|

How to Survive a Bear Attack 6 Strategies for Embracing a Stock Market Downturn By: Stacey Nickens Fall is a beautiful time to head out into nature for a camping trip, but enjoying nature doesn't come without risks. You may face dehydration, mosquito bites, and even bears. A bear attack is certainly the worst case [...]

3 Ways to Minimize Your Tax Bill in Retirement

2021-09-14T11:48:17-05:00September 10th, 2021|Blog, Bull Market|

3 Ways to Minimize Your Tax Bill in Retirement By: Stacey Nickens You've worked hard your whole life to build up your retirement nest egg. You save for healthcare expenses, housing renovation needs, and even a travel budget. However, as you are settling into a slower retirement lifestyle, you realize that you're paying a hefty [...]

4 Above-the-Line Deductions for Taxpayers Who Don’t Itemize

2021-03-08T18:16:06-05:00March 8th, 2021|Blog|

4 Above-the-Line Deductions for Taxpayers Who Don't Itemize By: Stacey Nickens The 2017 tax reform legislation increased the standard deduction, such that few taxpayers itemize their deductions. In 2020, the standard deduction is $12,400 for single filers and $24,800 for joint filers. Few taxpayers will accumulate enough individual deductions to exceed the standard deduction and [...]

Preparing for Potential Tax Changes in 2021

2020-12-18T14:31:38-05:00December 17th, 2020|Blog|

Preparing for Potential Tax Changes in 2021 By: Stacey Nickens With 2021 on the horizon, many of us are wondering how tax law may change under a new administration. First off, I think it's important to remember that we will likely have a divided government. A divided government is unlikely to pass sweeping changes to [...]

Q&A: I’m the owner of a small business. What retirement plan options do I have for my employees?

2020-08-31T16:59:52-05:00August 19th, 2020|Blog|

Q&A: I'm the owner of a small business. What retirement plan options do I have for my employees? By: Stacey Nickens There are three main retirement plan options for small business owners: SIMPLE IRAs, SEP IRAs, and 401(k)s. Let's review each of these plans and their rules; however, keep in mind, the CARES Act and [...]