Monthly Archives: December 2016


29

Dec 2016

Newly Married: Do we merge the money?

When you get married and take your vows, it goes something like this. I take you to be my lawful wife/husband/partner, to have and to hold, for better, for worse, for richer, for poorer, in sickness and in health, until death do us part. It does say for richer or poorer, but unfortunately many couples across America just don’t spend time discussing money when they...

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22

Dec 2016

Lower Your Tax Bill With Year-End Planning

As the end of the year draws near, the last thing anyone wants to think about is taxes. But if you are looking for ways to minimize your tax bill, there’s no better time for tax planning than before year-end. That’s because there are a number of tax-smart strategies you can implement now that will reduce your tax bill come April 15. Put Losses to...

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15

Dec 2016

Is a High-Deductible Plan Right for You?

  High-deductible health plans (HDHPs) cover a wide range of medical and prescription costs, but only after a steep annual deductible has been paid. HDHPs generally appeal more to healthier people with no chronic ailments that require regular care. HDHPs are often used with Health Savings Accounts (HSAs) — tax-preferred savings accounts that are used to fund qualified medical expenses. Enrollees or their employers make...

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13

Dec 2016

Planning for a Disclaimer in 5 Easy Steps

What is a disclaimer? A disclaimer is a formal refusal of an inheritance (or part of an inheritance) by a beneficiary. By creating a “path” for disclaimed assets to follow, a skilled planner can provide a beneficiary with the option to pass assets to alternate beneficiaries. Make sure the IRA owner names contingent beneficiaries. Naming a contingent beneficiary directly on the beneficiary form is good...

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08

Dec 2016

Controlling Health Care Costs in a Small Business

Because of rapidly rising health care costs, there is a growing sense of urgency among many small-business owners to find ways to reduce health care costs without dropping such coverage completely. With that in mind, strategies to help reduce company health care expenses include: offering high-deductible health plans and health savings accounts, shifting costs and cutting benefits, and providing employee wellness programs. Employer-sponsored health insurance...

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06

Dec 2016

Calculating NUA in 5 Easy Steps

When should you consider using NUA? What is NUA? NUA is short for “Net Unrealized Appreciation” of employer securities.  It’s the difference between the cost basis and the market value of employer securities held inside a qualified plan such as a 401(k).  To take advantage of a special tax break for NUA, there must be a triggering event [separation from service (unless self-employed), disability (only...

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01

Dec 2016

Will Your Money Last? Risks to Retirement Income

A sound retirement income plan takes into account several financial risks, including the potential for the retiree to outlive his or her assets, the effects of inflation on future income, rising health care costs, and the uncertain future of the Social Security system. For example, inflation increases the future cost of goods and services; inflation can also erode the value of assets set aside to...

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