Special-Needs Trusts: How They Work and What Has Changed

special needs trusts

Trusts give parents of special-needs children additional options for extending care and financial assistance. But you might need some expert help. Can you explain how a special-needs trust works? We have an adult child on disability and have been told we can set up a special-needs trust for her. We have an individual retirement account…

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How Can I Minimize My Chances of an Audit?

Worried about an IRS audit? Do these things, and you’re less likely to have your return flagged for one. The IRS audits less than 1% of tax returns, so your chances of having yours further examined are pretty low to begin with. But if you want to further minimize your chances of getting audited, here are…

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PODCAST41: Reilly’s Laws of Tax Planning

Links mentioned in episode: https://gregoryricks.com/reillys-laws-of-tax-planning/ Gregory mentions the IRS Listed Transactions: https://www.irs.gov/businesses/corporations/listed-transactions Check out our complimentary download, Tax Strategies for Retirement below. If you have any questions please give us a call at 504-832-9200    

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Self-Employed? Here’s What You Need To Know About Retirement Planning

self employed

In 2019, more than 16 million American workers were self-employed. This year, the coronavirus pandemic has forced even more Americans to become their own bosses. Although there are positives to building your own business, juggling the responsibilities that come with it can make it difficult to plan for retirement. There are many reasons retirement plans are often pushed…

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Maxing Out Your 401(k) Can Make You a Millionaire by 45

money rain

To max out your 401(k) in 2020 or 2021, you’d need to contribute $19,500. If you’re 50 or older, you’re allowed to make a $6,500 catch-up contribution, so $25,000 is your maximum. Let’s face it: $19,500 a year is a lot of money, particularly if you’re just starting your career. But if you can contribute…

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