HOW ARE RMDS CALCULATED?

Posted by Richard Winters, CFP®, CRPC®
On March 16, 2020

RMDs, or Required Minimum Distributions, are calculated by dividing your traditional IRA or retirement plan account balance by a life expectancy factor specified in either the Uniform Lifetime Table or the Single Lifetime Table. Your account balance is usually calculated as of December 31 of the previous year. You are allowed to defer your first RMD (the year […]

WHICH TAX EXTENDERS COULD AFFECT YOU?

Posted by Kristi Cherry, CPA®
On March 3, 2020

On December 20, 2019, President Trump signed the new federal budget into law, which contained several key tax extenders (expired or expiring tax provisions). While the sweeping SECURE Act generated most of late December’s headlines, tax professionals were closely monitoring two affiliated budget bills (H.R. 1158: Consolidated Appropriations Act and H.R. 1865: Further Consolidated Appropriations […]

TAX LAW CHANGES FOR THE 2020 TAX SEASON

Posted by Kristi Cherry, CPA®
On January 13, 2020

In November of last year, the IRS announced tax inflation adjustments and other tax changes that will go into effect for the 2020 tax season. It’s important that you take these changes into consideration as you build out your financial plan for this year. 

WHO NEEDS AN ESTATE PLAN?

Posted by Richard Winters, CFP®, CRPC®
On December 30, 2019

There is a very common misconception that only the very wealthy, or those nearing the end of their lives, need to have a comprehensive estate plan in place. The reality, however, is that every investor – regardless of assets or age – should have a carefully crafted estate plan that defines their wishes. While we […]

USING AN HSA AS A RETIREMENT ACCOUNT

Posted by Gary Krasnov, AIF®, CLTC®
On December 21, 2019

There are few vehicles as tax-efficient as a Health Savings Account (HSA). I like to think of HSAs as a ROTH on steroids. As you know, in most cases[1], with a ROTH account you can invest after-tax dollars that grow tax-free and are withdrawn tax-free in retirement. With an HSA, you can deposit pre-tax dollars […]

PROTECT YOUR IMPORTANT DOCUMENTS FROM A NATURAL DISASTER IN 3 STEPS

Posted by Brad Bridgewater
On September 17, 2019

Natural disasters such as floods, fires, and hurricanes can cause devastating impacts to your life, family, home, and communities. Your best strategy to protect the things you love is to prepare for the worst before it strikes. Many people include steps such as gathering supplies, identifying evacuation routes, and creating a network to get in […]

HOW TO MANAGE AN IRS AUDIT

Posted by Kristi Cherry, CPA®
On July 2, 2019

No one wants to receive that dreaded letter from the IRS saying you will be audited. Going through the audit process can be intimidating, confusing, and time-consuming. Although the likelihood of an audit is small, it’s quite possible that you or someone close to you will go through the process at some point in your […]

5 IMPORTANT TYPES OF INSURANCE AND WHAT THEY COVER

Posted by Sally Jilek, CLTC®
On April 24, 2019

As financial planners, the RAA team spends a lot of time thinking about and preparing to help our clients with the unknowns in life. What happens if the Fed raises rates? What happens if a client develops a chronic medical condition, or becomes disabled and isn’t able to work? By thinking about and planning for […]

FIDELITY BROKERAGELINK®: PROFESSIONAL MANAGEMENT IS NOW AVAILABLE FOR YOUR FEDEX 401(K)

Posted by Michael Kane, CFP®
On February 21, 2019

As a FedEx pilot, you are now able to view and manage your Pilots Retirement Savings Plan (PRSP) at Fidelity. You also now have access to professional investment management for your PRSP/401(k) account through Fidelity BrokerageLink® (BL). WHAT IS BROKERAGELINK®? The PRSP is a critical piece of your retirement plan, and it’s essential for your […]

ESTABLISHING GUARDIANSHIP: WHY IT’S SO IMPORTANT AND THINGS TO CONSIDER

Posted by Clay Caldwell, CFP® and Rich Winters, CFP®, CRPC®
On February 19, 2019

If you and your spouse were to pass away, who would assume legal guardianship of your children? Would your extended family members decide who raises your children? Would the courts decide? Maybe it would be a combination of the two? And for separated families, what kind of additional complexities exist? While it is a […]