Integrating QCDs Into Your 2025 Tax Strategy
If you’re age 70 1/2 or older, the IRS allows you to make charitable contributions directly from your IRA to approved organizations, such as your church. These transfers, known as qualified charitable distributions (QCDs), have become even more powerful under the new One Big Beautiful Bill Act (OBBBA)—and could be one of the most effective […]
Tax Planning Updates: Inherited IRAs
If you have inherited an individual retirement account (or may someday inherit) IRAs, the 2025 changes may significantly impact your tax planning. Key Updates Spouses and Special Cases Planning Strategies Strategic withdrawals can help you avoid higher tax brackets. For example, spreading withdrawals evenly over 10 years can minimize tax impact. Timing withdrawals based on […]
2024 Last-Minute Retirement Deductions
The clock continues to tick. Your retirement is one year closer. You have time before December 31 to take steps that will help you fund the retirement you desire. Here are five things to consider if you want to add to your 2024 retirement deductions. 1. Establish Your 2024 Retirement Plan First, a question: Do […]