Want to download C.H. Dean’s quick reference guide? Click below! 2025 COLA Each year, the Internal Revenue Service (IRS) adjusts various financial limits to account for inflation and cost-of-living changes. These adjustments impact employer-sponsored retirement plans, individual... Read More
Short On Time? Here’s a Quick Summary: Eligibility and Contributions: A Roth IRA can be set up for teens with earned income, with contributions limited to their income and up to the annual maximum ($7,000 in the example provided). Contributions... Read More
Short On Time? Here’s a Quick Summary: Definition and Eligibility: Qualified Charitable Distributions (QCDs) allow individuals aged 70½ or older to donate directly from IRAs to qualified charities, excluding the distribution from taxable income. This strategy can help manage required... Read More
Short On Time? Here’s a Quick Summary: Long-Term Market Resilience: While political outcomes may stir emotions, market performance historically reflects the strength of the U.S. economy over time, not the party in power. Diversified portfolios are typically more resilient to... Read More
Short On Time? Here’s a Quick Summary: Immediate Action: If you suspect identity theft, contact your bank’s fraud department, freeze your credit with all three major bureaus, and file a report with the FTC to limit further damage. Next Steps:... Read More
Short On Time? Here’s a Quick Summary: After a loved one passes, gather important documents such as the will, Social Security number, account statements, deeds, and any estate planning documents to settle the estate efficiently. Address immediate needs by arranging... Read More
Short On Time? Here’s a Quick Summary: Children from Previous Marriages: Simple wills may unintentionally overlook children from previous marriages, especially if all assets are left to the surviving spouse, who could later change the will. Disparity in Assets: When... Read More
Short On Time? Here’s a Quick Summary: 529 plan funds can be used for a variety of educational expenses, including higher education, vocational or trade schools, and K-12 tuition at public, private, or religious institutions. Qualified expenses include tuition, housing,... Read More
Have you heard about the new IRS requirement that may impact your business? Beneficial Ownership Information (BOI) Reporting Established by the Corporate Transparency Act in 2021, this new reporting mandate is designed to help U.S. law enforcement combat money... Read More
Short On Time? Here’s a Quick Summary: The Alternative Minimum Tax (AMT) is a separate tax system designed to ensure that high-income earners pay a minimum level of taxes, with more restrictive deduction rules than the traditional tax system. Due... Read More