Month: March 2021

Debunking Annuity Myths

Don’t overlook the benefits that annuities provide during your retirement planning years. Yes, some myths make them appear to be a lousy choice, but there are reasons to trust in financial insight rather than the Google results on the Internet. Here’s some reasoning behind why financial professionals want you to consider an annuity: Don’t wait […]

2020 Changed How Your Financial Professional Works with You

The loose definition of a financial professional is someone that provides insight intended to lead to a better outcome for your financial future. The workings of their daily routine include everything from planning to building your portfolio and/or retirement plan. While the basics of running a financial business didn’t change in 2020, it seems that more investors realized […]

Is Your HSA Working for You?

If you have a Health Savings Account (HSA) option, the benefits are worth the investment. The tax benefits of an HSA magnify the advantage of investing in, say, stock funds or diversified mutual funds. First, your contribution is tax-deductible. Second, once inside your HSA, your money grows tax-free. Third, when used for eligible healthcare costs, […]

Avoiding the Social Security Tax Trap

Retirees face multiple income traps, and many retired taxpayers will see a portion of their Social Security income make its way onto the taxable income line of their 1040s. Those who convert their traditional IRAs to Roth IRAs are especially susceptible to this situation. If you happen to exceed the funding limit, the extra income pushes you beyond the income threshold level […]

Steps to Speed Up Your Refund This Tax Season

The Internal Revenue Service announced that the nation’s tax season started on Friday, February 12, 2021, but it’s important to note that the filing deadline wasn’t extended. The February 12 start date for individual tax return filers gave the IRS time to do additional programming and testing of IRS systems following the December 27 tax […]