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IRS Contribution Limit Changes for 2018

The IRS recently announced changes to the contribution limits for retirement plans effective starting 2018.  One major change is an increase in the annual contribution limit from $18,000 to $18,500 for 401(k)/457/403(b) plans – the catch-up contribution limit for employees age 50 or older will remain the same ($6,000) in 2018.  Below is a table summarizing […]

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Don’t Let a Wolpertinger into Your Portfolio!

Key Takeaways Like the elusive Wolpertinger of Bavarian folklore, active managers who are successful over the long term tend to be mythical creatures. Academics have been evaluating sightings of successful active managers for decades. There is little evidence that such managers exist in large numbers. Just as few people survive encounters with Wolpertingers, many investors […]

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Over 70 and Charitably Inclined? Don’t Miss This No-Brainer Tax Break!

Key Takeaways A qualifying charitable distribution (QCD) allows you to donate up to $100,000 per year directly to a qualified charity from your IRA and exclude it from income. QCDs can enable you to give to charity and shield some or all of your Required Minimum Distribution (RMD) from taxes. QCDs require your contribution to go directly from […]

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The “Back-Door” Roth Conversion

As many of you know, Roth IRAs are one of the best types of retirement accounts out there. As I’ve covered in previous posts, there are tremendous benefits to participating in a Roth IRA: Tax-free distributions in retirement. Access to your contributions at any time penalty free. No required distributions at age 70 ½. What’s not to […]

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There’s Still Time to Contribute to an IRA for 2016

Calendar year 2016 is long gone, but there’s still time to make a regular IRA contribution for tax year 2016! You have until your tax return due date (not including extensions) to contribute up to $5,500 for 2016 ($6,500 if you turned age 50 by December 31, 2016). For most taxpayers, the contribution deadline for […]

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The Future of the Fiduciary Rule

I was recently asked to write a blog post for the Pennsylvanian Institute of Certified Public Accountants (PICPA) on the Fiduciary Rule under the Trump administration.  Below is a copy of the article, I hope you enjoy it. The term “fiduciary” has become a buzzword in the financial news recently. From the traditional financial press to comedians on […]

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Penalty Free Retirement Withdrawals Prior to Age 59.5? Let’s talk about “Rule 55″

It has been well documented that the earliest age to begin taking withdrawals from retirement accounts is age 59 ½.  This is the age you are now eligible to withdraw money from your IRA, 401(k), 403(b) or other qualified plans without incurring an early withdrawal penalty. Note: You may still have to pay taxes on […]

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