There’s a common misconception that, when you retire, your tax bills shrink, your tax returns become simpler and tax planning is a thing of the past. That may be true for some,...
5 Tax Planning Tips for Retirees
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Retirement
Audit Your Retirement Plan Before the Feds Do
It's a good idea for companies to self-audit their retirement plans to determine if there are any problems — before they hear from federal examiners. This way, they can protect...
Capture the Intellectual Property of Retiring Employees
How many Baby Boomer employees (those born between 1946 and 1964) will be leaving your organization in the next five years? When retiring employees clear out their desks and walk...
DOL Pitches Auto-Portability Program to Preserve Retirement Savings
The U.S. Department of Labor (DOL) is advancing a proposal that would enable 401(k) plan sponsors to automatically transfer account balances up to $5,000 of former participants...
Letter Ruling Says Retirement Payments Are Subject to Self-Employment Tax
Wouldn’t it be nice if post-retirement payments from former employers were tax-free? Unfortunately, this is not the case. A recent letter ruling from the Internal Revenue Service...
Long-Term Care Insurance Options
Some people are worried that they will wind up in a nursing home with their life savings wiped out. But that doesn't have to be the case. You can buy some peace of mind with...
Get the most from Social Security
Get the most from Social Security. Younger retirees face a harsh penalty for working part-time. For every $2 earned over $16,920 in 2017 (up from $15,720 in 2016), you lose $1 in...
Maximizing your Social Security Benefits
Figuring out which Social Security benefits you are eligible for and the timing to apply is no simple task. It involves sifting through what seems to be countless rules which...
Pros and Cons of Sequenced Retirement
Dealing with retirement is never easy, especially for partners in law firms. Even if a partner doesn’t want to retire, often the firm’s partnership agreement includes a mandatory retirement provision that does not give partners a choice.