Making a 2025 IRA contribution can provide tax savings today or when you take your IRA distributions in retirement.
IRA
Your Weekly Read
April 15 is the deadline for more than just your income tax return
Depending on your situation, you may have more to do by April 15 than file your Form 1040. Don’t miss these other important deadlines.
How the new Trump Account for children will work
If you have a child born in 2025 through 2028, you might want to set up a Trump Account to receive a free $1,000 government contribution.
Checking off RMDs on the year-end to-do list
RMDs usually must be taken by December 31. If you don’t comply, you can owe a penalty equal to 25% of the amount you should have withdrawn.
The power of catch-up retirement account contributions after 50
Over age 50? Catch-up retirement contributions could make a huge difference in your future wealth. Here’s how.
Turn a summer job into tax savings: Hire your child and reap the rewards
Are you considering bringing your high-school- or college-age child into your business this summer? Their summer job may be a smart tax move.
Taming the tax tangle if you’re considering retirement
Retirement is a chance to travel, visit with family or just enjoy relaxing. Yet retirement may bring a tangle of tax implications.
You may be still able to make a traditional IRA contribution for last year
The best way to grow your nest egg is to save for retirement today. There’s still time to make an IRA contribution if you are eligible.
Make Qualified Charitable Distributions from your IRA
A Qualified charitable distribution can benefit you and your favorite charities. Here’s how to unlock the power of giving.
Use a Qualified Charitable Distribution to avoid taxable IRA withdrawals
Here’s a strategy for older taxpayers who are charitably minded and also must take required minimum distributions from their traditional IRAs.
Hiring your child to work at your business this summer
Hiring your child at your business this summer? It can be a tax-smart idea. Here are the benefits.
Update on retirement account required minimum distributions
The SECURE 2.0 law includes good news about required minimum distributions from tax-favored retirement accounts. But an earlier law contained some bad news for certain beneficiaries of inherited retirement accounts. Here are the rules.
Read something interesting? Want more information? Give us a call, and we will be happy to assist you in any way we can.
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Washington, NC 27889
Washington, NC 27889
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