Sunday, 08 September 2019
Dennis Doble
Did you know there are ways to take advantage of Roth IRAs even if you exceed the annual income threshold? As of 2022, an income of $153,000 (or $228,000 if filing jointly) makes an individual or married couple ineligible for Roth IRA contributions.[i] A legal tax-loophole exists that you may not have heard of using an IRA conversion strategy sometimes called a “back-door Roth”. In this article, we will review how to utilize this savings technique to help build up your retirement savings for tax-free withdrawals from Roth IRAs.
Monday, 12 August 2019
When you own your own business, it can often seem like you are constantly in high gear, working long hours and at a taxing pace. While all of that effort can help you get ahead of the competition it can also disrupt the balance of your work and your life, leading to burnout, and in effect taking yourself out of the running completely.
However, this does not mean it is impossible to achieve or does not exist. In this article we will explore six strategies, gathered from the experience of small business owners and entrepreneurs, that can help you along your business journey to avoid burnout, and find the work-balance solutions that work for you and your business.
Monday, 12 August 2019
We are sharing this informative article from a strategic partner, ALL CPAs (Abrams Little-Gill Loberfeld PC).
By Nick Nichols, CPA, CVA & Andrew Dieffenbach, CPA, CVA, MBA
Monday, 05 August 2019
Rich LeBranti
Did you know that Roth IRAs for kids are a flexible way for you to help them start saving for retirement as soon as they begin earning income?
When you think of a Roth IRA, you don’t usually picture a child as the owner. But, when you dig deeper, a Roth really is an ideal savings vehicle because they have more than a half-century to watch their contributions grow tax-free. Plus, there is a great deal of flexibility allowing you to withdraw your contributions at any time without tax or penalties.
THE FACTS
Here are some facts that you may not be aware of that could make setting up a Roth for your child a no-brainer.
- Savings at any age. No matter how old or young your child is, they can contribute to a Roth IRA as long as they have earned income.
- Parental Involvement. Either a parent or other adult must open the Roth IRA for a child.
- Flexible Convenience. Unlike other retirement savings accounts, you can withdraw funds from your Roth IRA without penalty. This could also make it a vehicle for college savings, first home savings, wedding, baby, etc.
Monday, 08 July 2019
Rich LeBranti
“Change is the only constant in life” – Heraclitus
We all remember the Sphinx riddle – “What crawls on four legs in the morning, two legs in the daytime and three in the evening?” The answer—people --crawling as a baby, walking as an adult and needing a cane into old age. We’ve all, especially if you’ve ever had children, heard the saying, “The days are long, but the years are short.” These sayings are about the passage of time and how we, and everyone else, change. At home, I see my oldest daughter headed to middle school this coming September. The excitement is there, but a small “fear” of change exists and can be healthy to keep you on your toes! Life is an ever-changing series of sweet and sour moments. In this article we will discuss some healthy ways to approach and think about change; even find the beauty in it.
Transitions can be Difficult
Change, whether good or bad, can be challenging to adapt to. A promotion, a big move, a new baby, a retirement all can be wonderful, but any transition can still be difficult, emotional, or take some time to get used to. Often the best advice is to accept the change with grace. Find thankfulness and gratefulness and try to focus on the positive elements.
Humans are remarkably adaptable, but even so, we may need a little time to reorient ourselves even in the best scenarios.
There are some transitions that can be predicted and planned. If it is possible to improve your health by changing your lifestyle, then that is a proactive change that is improving your life. If you develop a succession plan or an exit plan for when your company closes its doors, then you will have confidence and security in what happens next. Taking control and making decisions can help you cope with a change and the feeling of losing control.
