Is the “Trump Account” a Good Deal?
Short answer: Not really. Middle to high income families may not feel it’s worth the headaches and low income families may see little benefit.
July 29, 2025
Tag: Tax reduction
Bad Tax Planning begins when you believe your 401(k)/IRA statements.
If you have $500,000 in your 401(k) or IRA, it’s not really $500.000. That’s a tax planning mistake most people make going right out of the gate. If you’re married and filing jointly, it’s more likely you could have $325,000 (35% tax bracket) or just $315,000 (37% tax bracket).
February 18, 2025
Uncategorized
Tax-Delayed Isn’t Tax-Free
Believe it or not, investing during working years was the easy part. Just keep accumulating! Even better, the money you put aside wasn’t taxable. Such a deal! Tax-delayed doesn’t mean tax-free however.
February 5, 2024
IRAs
Does SECURE Act 2.0 Create a Stealth Tax?
The SECURE Act 2.0 may do a lot to help secure Uncle Sam, but I’m not so sure about the rest of us.
January 23, 2023
IRAs
Does The SECURE Act Make You More Secure?
Looking for retirement security?
Government spending has been out of control for decades and Congress needs to raise revenue. So, they passed The SECURE (Setting Every Community Up for Retirement Enhancement) Act in December 2019. It may secure the government’s future; but, one provision may make your heir’s retirement a little less secure.
April 29, 2022
Uncategorized
What Does A Tax Strategy Look Like?
There are many possible tax strategies available. The question, of course, is which, if any, are appropriate for you.
March 11, 2021
Annuities
No RMDs for 2020!
Required minimum distributions (RMDs) have been eliminated for 2020 due to the COVID-19 pandemic; but, you just might want to consider taking a distribution anyway. Why?
August 14, 2020
Annuities
Three Tips for Building Family Wealth
Most people work long hours for 30+ years trying to build wealth for themselves and their families. These three tips can make it a little easier.
July 6, 2020
Charitable Giving
Thinking of Giving to Charity? Here are some options for giving!
Jim Lorenzen, CFP®, AIF® Giving to charity? While most anything can be given to charity, these are the more common forms of donated property: Cash:Cash
September 26, 2018
Investing
Tax-Advantaged or Tax-Deferred? Do you know the difference?- copy
Jim Lorenzen, CFP®, AIF® Tax-deferred and tax-advantaged are two termsoften used interchangeably and, as a result, often lead to a lot of confusion; but, the
June 11, 2018