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Income Planning
Special-Needs Trusts: How They Work and What Has Changed
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…
Read MoreHow 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…
Read MorePODCAST41: 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
Read MoreSelf-Employed? Here’s What You Need To Know About Retirement Planning
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…
Read MorePODCAST40: Where can I get help regarding my DROP plan?
Check out our complimentary download, Retirement Planning Checklist below. If you have any questions please give us a call at 504-832-9200
Read MorePODCAST39: Windfall Elimination Provision workaround tips
Check out our complimentary download, Social Security Decisions Guide below. If you have any questions please give us a call at 504-832-9200
Read MorePODCAST38: Social Security tips for Mom and Pop businesses
Check out our complimentary download, Social Security Decisions Guide below. If you have any questions please give us a call at 504-832-9200
Read MorePODCAST37: Financial questions you should ask before you get married
Check out our complimentary download, Building your fiscal house to weather the elements below. If you have any questions please give us a call at 504-832-9200
Read MorePODCAST36: What are the rules for 403b savings plans
Check out our complimentary download, 5 Things to do with your old 401k below. If you have any questions please give us a call at 504-832-9200
Read MoreMaxing Out Your 401(k) Can Make You a Millionaire by 45
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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