Between now and 2045, Cerulli Associates estimates that more than $80 trillion in wealth will be transferred from the Baby Boomer generation to their heirs. It is understandable to assume some of those assets will be in the form of retirement accounts such as IRAs, Roth IRAs and 401(k)s. With the enactment of the SECURE … Continued
As the year-end approaches, now is an ideal time to review strategic planning opportunities and preview what lies ahead in 2023. We encourage you to discuss these planning topics with your Sand Hill Wealth Manager. Retirement Planning In 2023, retirement plan contributions for 401(k)s, 403(b)s, and most 457 plans will increase to $22,500 with an … Continued
October 14, 2020 This year’s CARES Act exempts required annual distributions in 2020 for all IRA owners over age 70 ½, and for some people, this may create an attractive planning opportunity utilizing the Roth IRA conversion. Unlike a traditional IRA that is funded with pre-tax dollars that grow tax deferred until withdrawn (as taxable … Continued
The new tax law that went into effect this year changes many things, including the treatment of deductibility of state and local (property) taxes – the so-called SALT deductions. Prior to this year, taxpayers could deduct the full amount of these taxes from their Federal tax calculation. Beginning this year, that deductibility is capped at … Continued
As year-end approaches, it is time to review strategic planning opportunities with your trusted advisors. As we await the outcome of the tax reform bill, it is a good time to start the dialogue and prepare to act. With that in mind, here is a list of end-of-the-year financial tasks for your consideration. Tax-Loss Harvesting … Continued
It is not unusual here in Silicon Valley for employers to offer their employees the opportunity to acquire company stock as an investment alternative in their 401(k) plans. Employees may acquire equity shares using pre-tax dollars, or even better, at no cost when shares are granted as a matching contribution. But eventually, whether because of … Continued
Now that we are well into the final quarter of the year, it’s time to think ahead to what is approaching taxpayers in just few short months. At this time every calendar year, the various government agencies release updated figures for a range of items such as retirement contribution limitations, gift & estate tax exemptions … Continued
Protecting Americans from Tax Hikes Act of 2015 Signed into Law Very rarely big changes sweep the landscape of financial planning but when they do taxpayers are sometimes awarded significant benefit from the change. On December 18, 2015, the Protecting Americans from Tax Hikes (PATH) Act was signed into law. The Act does considerably more … Continued
In the beloved 1956 musical My Fair Lady, Alfred Doolittle, the father of Eliza Doolittle, has one last spree before his own wedding. The familiar tune “Get Me to the Church on Time” is a plea to his friends not to let his merriment get in the way of his good intentions! Few things are … Continued
For those who reached the age of 70 ½ and are required by the IRS to take a mandatory distribution from their tax deferred retirement accounts, the first quarter of the year provides a good planning point to determine the most effective way to satisfy your Required Minimum Distribution (RMD) in 2014. The most common ways … Continued