Introduction If you’re retired or approaching retirement, it’s essential to understand the role taxes play over your lifetime. Income taxes can significantly impact your tax bill and retirement income, and failing to plan for your...
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When can you file for Social Security? Since President Franklin D. Roosevelt signed the Social Security Act in 1935, the question that has troubled most Americans as they near retirement is: “When can you file...
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What is IRMAA (Income Related Monthly Adjustment Amount)? Did you receive an updated Social Security Administration benefits statement and notice extra monthly premium amounts for your Medicare Part B & D coverages? If so, you’re not...
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Introduction: Maryland Itemized Deductions 2021 As part of our wealth management services for our clients, we review their previous year’s tax returns and project future taxes to identify missed tax savings and tax planning strategies...
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What is the SECURE Act 2.0 status? It’s now official! After two years of negotiations, the SECURE Act 2.0 passed as part of a historic $1.7 trillion spending package at year-end 2020—akin to its predecessor...
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What are the updated 2023 retirement contribution limits? Retirement plan contribution limits for different retirement accounts are key in managing your future financial security. With this in mind, it’s important to stay abreast of changes...
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On Your Mark, Get Set for 2023… And Go! To say the least, there’s been plenty of political, financial, and economic activity this year—from rising interest rates to elevated inflation to ongoing market turmoil. How...
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