IRS Issues Further Guidance on 2020 Required Minimum Distributions (RMDs)

As we discussed a few months ago, the federal government passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act on March 27, 2020, in response to the global pandemic that continues to afflict our economy. One way the CARES Act provided relief for individuals was by waiving the annual obligation to distribute a portion …

Highlights of the Historic Coronavirus Aid, Relief, and Economic Security (CARES) Act

In an effort to mitigate the effects the ongoing COVID-19 pandemic is having on Americans in every sector of the economy, the federal government signed into law the Coronavirus Aid, Relief, and Economic Security (CARES) Act on March 27, 2020. While this historic bill approves a $2 trillion emergency stimulus package aimed at providing broad …

Previous Employer Retirement Plans [401(k), 403(b), Etc.] – What Do You Do With Them?

by Adam Oerther, CFP® One employee benefit companies often use to attract and retain talent in the workforce is access to a retirement plan, such as a 401(k), 403(b), or SIMPLE IRA plan. These types of plans allow you to make pre-tax contributions, which not only lower your taxable income for the year but also …

Tax Planning for 2018

by Sean Guldi, CFP® It is all over the news – Congress and the Trump administration are busy attempting to enact a large-scale overhaul of the tax code. Uncertainty abounds with respect to the details, and there is still a chance the overhaul does not make its way through both the House and the Senate …

End-of-Year Tax Planning Strategies

No matter your political leanings, paying taxes is a fact of life and an integral part of modern society. However, the federal government recognizes many different tax-advantaged strategies that lower your tax bill when the time to file comes around each year. This article will focus on a few of the more popular of these …

Get Ready for Open Enrollment

by Sean Guldi, CFP® It’s that time of year again – Open Enrollment Season. Many of you work for larger companies who provide cafeteria-style plans with a plethora of options. Some of you may be self-employed individuals finishing up your tax filings on extension and reviewing insurance options for the coming year. Those of you …

Tax Loss Carryforwards

This time of year, most everyone is busy preparing and filing their tax returns. While this is a painful process for some people, B&C Financial Advisors does our best to manage taxable gains in our clients’ taxable portfolios. When you invest money wisely, you are likely to create capital gains and income. Capital gains and …

Who Needs to Take an RMD (Required Minimum Distribution)?

The first question someone might ask is, what is an RMD? An RMD is an annual distribution from an IRA (Individual Retirement Account) that is required by the IRS.

Retirement Plan Changes in 2015

From changes in contribution limitations to a new account option, here’s what retirement savers can expect for 2015

How Smart Investors Limit Their Tax Obligation

When you invest money wisely you are likely to create capital gains and income. Capital gains and income will increase your tax liability, but there are things you can do to limit the amount of taxes you pay.