Watch Out for These 3 Retirement CARES Withdrawal Mistakes

For retirement withdrawal needs the CARES act may seem to present a unique opportunity, but its important to watch out for potential mistakes.

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What the CARES Act allows: up to $100,000 in total withdrawals from retirement accounts (IRA, 401k or other tax-deferred account types) with the 10% penalty waived. In addition, there can be the ability to pay back the funds within 3 years of the distribution to eliminate the tax liability. This all may sound very tempting for you to take advantage of but there are pitfalls to consider before moving forward. Continue reading “Watch Out for These 3 Retirement CARES Withdrawal Mistakes”

Retirement Savings Tax Hacks & Small Business Retirement Savings Options

In today’s post (and corresponding podcast episode) we talk to Joshua Zirilli, CPA about some of the retirement options available to small business owners and how they can be used to save on taxes. We want to make sure you read to the end because Joshua is going to explain a strategy to turbocharge your retirement savings that is unfamiliar to most people. Continue reading “Retirement Savings Tax Hacks & Small Business Retirement Savings Options”

SECURE Act: What you need to know

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What Is the SECURE Act?

The SECURE act stands for Setting Every Community Up for Retirement Enhancement and was signed into law on December 20, 2019. The act focuses mainly on retirement legislation and has been argued to have been the largest piece of retirement legislation to have been passed in the last 13 years. However, within the act there are benefits for College Loan Payments in 529 educational savings accounts and an exemption for birth or adoption expenses from retirement accounts that previously hadn’t existed. Because of these changes it is important for you to be aware how they may impact you or your previous planning approaches to these financial goals. In this update we will explore what has changed and what action steps you should consider as an investor. Continue reading “SECURE Act: What you need to know”

Turn Back Your Clocks and Turn on Some Tax Savings With These Moves Before 2019 is Gone


It almost feels like it was yesterday that you were ringing in the new year, thinking of 2019 and what would be to come and setting your resolutions. One of the things that was a hot topic as we rolled into the new year was the new tax plan and what might await us come the filing deadline. Now make no mistake, taxes are a part of investing, but they frequently are thought of as something that comes hand-in-hand with investing that we have no control over. Although we can’t control the markets, investor behavior, fear and many other parts of what can come along with investing we can have some control and influence over how taxes affect your investment portfolio. Today we will cover some tips on what you can still do before year end to help your tax situation. Continue reading “Turn Back Your Clocks and Turn on Some Tax Savings With These Moves Before 2019 is Gone”