contribution – MD Update

Where Do We Go from Here?

December 1, 2020December 1, 2020 Scott Neal -contribution limit, 70½, B., Biden, Biden victory, calendar move, Care act, catch-up limit, contribution, COVID, Dr. Woody Brock, duration of the market, employer 's match, entire employer 's match, entire final paycheck, financial house, firm 's sale, FOMO, free money, inherited IRAs, interest rate, IRA, IRA contribution, K., late market move, let 's keep, minimum amount necessary, owner of inherited IRAs, paycheck, plan administrator, polarized electorate, prospect of future earnings, QCD, required minimum distribution, RMD, RMD wrinkle, RMDs, Roth contribution, Roth IRA, Scott Neal, smart folk, steep sell-off, stock, stock market, tax year, tax-year contribution, tortuous decline, traditional IRA, trap of FOMO, upward bias, v-shaped recovery, wall street analyst, wash sale, year-end

For the nation, 2020 has been one of the most difficult years in memory. We are grappling with COVID and

Read more

New Tax Rules and Planning Opportunities Under CARES

May 1, 2020September 4, 2020 Scott Neal 10, 10 year rule, beneficiary, beneficiary designation, calculate interest, contribution, contribution deduction, conversion, Coronavirus aid, deduction, early confusion, economic security act, estimated tax, financial future, financial plan, high earn year, IRA, IRA contribution deadline, medical need of patient, minimum distribution, new law, new tax rule, pandemic, penalty, potential trap, prior limit, re-cast, retirement, retirement account, retirement account distribution, retirement account owner, retirement plan, RMDs, Roth, Scott Neal, secure act, select group of beneficiary, spouse, spouse die, survive spouse, tax filing, taxable social security, traditional retirement account, tread, unique plan opportunity, young beneficiary

Before talking about taxes and money, let me first say thank you to all of you who are meeting the

Read more

Tax Planning Tips

February 1, 2020April 2, 2020 Matt Smith, CPA, CFE advisor, amount of self-employment income, backdoor, bonus depreciation, care benefit, charitable contribution, contribution, contribution deduction, cost of qualify property, Dean Dorton, deduction, dependent care benefit, estimated tax, exclusion, FSAs, general information, HSA, HSA contribution, HSAs, income tax withhold, IRA, IRAs, medical expense, net capital gain, net long-term loss, net short-term capital gain, placed-in-service, pre-tax, pre-tax deduction, pre-tax option, previously-used asset, qualify property, realize capital loss, retirement, retirement plan deferral, Roth IRA, Roth IRA contribution, S corporation, S., self employment income, Self-Employed, Self-Employed plan, self-employed retirement plan, self-employment, tax loss, tax plan tip, wash sale, withhold

If you haven’t already, now is the time to assess your 2019 tax situation. A few items you may want

Read more

Rethinking HSAs and Retirement Planning

May 1, 2018July 2, 2018 Scott Neal care insurance, cobra continuation coverage, contribution, coverage, deductible, deduction, expense, family coverage, flexible spend account, HDHP, health save account basics, healthcare, healthcare expense, healthy couple, HSA, HSA account, HSAs, insurance, itemized deduction, long-term care insurance, medical expense, medical save account, Medicare, named beneficiary, qualify high deductible medical insurance plan, qualify medical expense, reach age 55, retirement, retirement account, Scott Neal, security benefit, self-only, self-only coverage, social security benefit, survive spouse 's HSA, tax-favored, tax-favored save account, tax-free, workplace-sponsored, workplace-sponsored health plan

LEXINGTON Perhaps you have seen the articles stating the rule-of-thumb that a 65-year-old healthy couple can expect to spend about

Read more

Remember the IRA?

April 1, 2017March 23, 2018 Scott Neal completed tax return, contribution, CPA, deduction, form 8606, income limit, IRA, IRA contribution, IRAs, non-deductible, non-deductible contribution, nonwork spouse, old CPA, preparer, qualified plan restriction, qualified retirement plan, quick refresher, retirement, retirement account, retirement plan, Roth, Roth contribution, Roth IRAs, Scott Neal, spouse, tax basis, tax code, tax return, taxpayer, taxpayer relief act, traditional IRA, traditional IRAs

I once heard about an old CPA who, after presenting a completed tax return to his client, said, “Don’t read

Read more

Is Retirement in Your Future?

June 1, 2012 Scott Neal age-weighted, assortment of choice, calculation, closely-held, complexity, contribution, cost of the plan, DB, DB plan, de, de rigueur, defined contribution, disqualification of an exist plan 's tax, employee, employer, exist plan 's tax, family 's future benefit, formal retirement plan, governmental coercion, individualized calculation, IRA, IRA contribution, old owner of a closely-held business, outside administrator, physician 's practice, plan 's tax, problem of terminology, profit share plan, qualified plan, qualified retirement plan rule, qualitative reason, question of need, real fiscal problem, required contribution, retirement, retirement plan, retirement plan rule, right retirement plan, scale of complexity, Scott Neal, side income, tax man cometh, tax-advantaged, tax-advantaged retirement plan, tax-deferred, tax-deferred growth, tax-deferred retirement plan, tax-deferred save, tax-saving, tax-saving incentive

Qualified retirement plan rules are changing once again. Later this summer, retirement plans must disclose to participants all the costs

Read more