retirement plan – MD Update

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

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Tax Planning Check-Up

December 1, 2017February 9, 2018 Matthew Smith, CPA, CFE 6% KY income tax bracket, bonus, business owner, Check-Up, current proposed reform, deduction, depreciation, employer, equipment purchase, expense, family coverage, good financial health, growth of the fund, healthcare, high-deductible, high-deductible health plan, HSA, immediate expense, importance of push income, K., KY income tax bracket, medical expense, patient 's physical health, post-tax dollar, pre-tax, pre-tax dollar, pre-tax health insurance option, pull deduction, push income, qualified medical expense, retirement, retirement plan, section 179, section 179 deduction, single coverage, take advantage of pre-tax health insurance option, tax benefit, tax deduction, tax plan idea, tax plan strategy, tax reform discussion, tax save idea, tax-free, taxable income, type of employer, vast majority of taxpayer

As a healthcare professional, you know that a routine annual visit with a doctor is an important part of maintaining

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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

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Tax the Seed or Tax the Harvest…

January 1, 2016 Calvin Rasey $, $2,500 dollar, $2,500 dollar of income, ½, 2,500, advisor, after-tax dollar, American tax reconciliation act, B., Calvin, Calvin R., deduction, dollar, ever-changing, ever-changing healthcare system, filer, harvest, investment, itemized deduction, joint filer, LLC, loom effect, low retirement invest, Medicare, Medicare contribution, net investment income, new federal tax, new surtax, personal deduction, personal exemption, phase-outs, physician, possible 13.49 % tax increase, potential loss of income, qualified dividend, qualified plan, R., Rasey, required minimum distribution, retirement, retirement invest, retirement plan, security benefit, service II, social security benefit, sting of the possible 13.49 % tax increase, tax law change, tax reconciliation act, tax-advantaged, tax-advantaged category, tax-advantaged investment, tax-deferred, tax-deferred dollar

Physicians are under attack! The ever-changing healthcare system and monumental number of tax law changes not only have an impact

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Giving the Gift of Tax Savings

December 1, 2015January 20, 2017 L Porter Roberts Jr, CPA additional tax save, benefit administrator, Care assistance program, care credit, child/dependent, child/dependent 's care provider, common goal of shelter income, cost use pre-tax dollar, CPA, credit 's benefit, deferral, dependent Care assistance program, dependent care credit, employer 's retirement, estimated tax payment, file form, gift of tax save, gift-giving season, H.S.A., H.S.A. account, HDHP, high income taxpayer, high-deductible, high-deductible health plan, income taxpayer, investment income tax, K., medical expense, pre-tax, pre-tax dollar, qualified retirement, qualified retirement plan, retirement, retirement goal, retirement plan, shelter income, tax bill, tax payment, tax plan, tax save gift, tax-free, taxpayer, type of plan, wage, year-end strategy, year-round endeavor

Tax planning is a year-round endeavor, but there are numerous year-end strategies that might reduce your 2015 tax bill. As

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Financial Miscellany

November 1, 2015 Scott Neal A-D line, absolute return approach, advance decline line, advance decline line of the new York stock exchange, adverse effect of over-regulation, author of unexpected return, average of the A-D line, bad quarter, breadth of the market, bull cycle, buy-hold-and-rebalance, China 's issue, current read, cyclical recovery, deflation, Ed Easterling, effective return, efficient tradeoff, fear volatility, fed play kick-the-can, federal reserve decision, filing, financial inflation, financial miscellany, focus of medium, focus of policymaker, fundamental cause of decline, good idea, implosion of emerge market, increased volatility, interest rate, investor, kick-the-can, low rate of growth, market breadth, market decline, market water, market wind, negative interest rate, possibility of structural reform, price of bond, proper incentive, prospect of deflation, recent market decline, reserve decision, retirement plan, return approach, RMD, self-styled expert, simple sailor, startup of small business, Stocks, technical indicator, tough sled, tradeoff, tradeoff of hold cash, traditional approach of buy-hold-and-rebalance, traditional stock, upcoming election cycle, volatility, volatility of Stocks, worldwide growth

In keeping with the news and the season, there are several topics to discuss this month. Here a just a

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10 Year-End Income Tax Planning Tips

July 1, 2014 L Porter Roberts Jr, CPA additional 3.8 % tax, additional tax break, cafeteria plan, care benefit, CPA, deduction, deferral limit, dependent care benefit, efficient improvement, estimated tax payment, exclusion, geothermal heat pump property cost, gift, HDHP, health reimbursement account, heat pump property cost, high-deductible, high-deductible health plan, home equity loan, home office deduction, HSA, income tax plan tip, increased withhold, K., medical expense, medical reimbursement plan, net investment income, Non-Employees, Plan/401, pre-tax, pre-tax basis, Pre-Tax payroll deduction, proper tax plan, qualified medical expense, qualified retirement, reimbursement, reimbursement plan, residential energy, retirement, retirement goal, retirement plan, self-employed health insurance deduction, separate bank account, shortfall, small wind energy, spend account, store aisle, substantial tax dollar, tax credit, tax payment, tax save suggestion, tax shortfall, tax-free, vision insurance premium, withhold

Even though the store aisles are already littered with holiday decorations, there is still time for you to minimize your

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The Ultimate

June 1, 2013 Calvin R. Rasey advisor, amount of premium, amount subject, asset, beneficiary, benefit tax, Calvin, Calvin R., cash, cash balance plan, cash value, cost of pure insurance protection, death benefit, dollar, exclusive benefit of employee, income tax, insurance, insured, insured 's estate, investment, investment advisor, IRA, life insurance, life insurance premium, life insurance premium pre-tax, LLC, P.S., P.S. 58, P.S. 58 cost, permitted investment, plan participant, plan principle purpose, plan principle purpose of provide retirement benefit, pre-tax, pre-tax dollar, premium, profit share plan, provide retirement benefit, purchase life insurance, pure cost, pure cost of the death benefit, QRP, QRP pay premium, qualified plan, qualified retirement plan, R., Rasey, retirement, retirement plan, service II, traditional defined benefit

Do you ever wish you could pay your life insurance premium with pre-tax dollars while keeping your benefit tax free?

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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

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Time to Stress Test Your Retirement Plan

March 1, 2012March 28, 2017 Scott Neal 13 % unemployment, 21 % decline, 50 % drop, achievable steady pace, age x., amount of money, care of an age parent, chief risk, client 's maximum, conservatism, current income, earn year, financial plan, firm, good deal of analysis, good laid plan, good stress test, live standard, market peak, rationalization, real-world impact, relevant answer, residence value, retirement plan, retirement plan stress test, return home of an adult child, risk of sudden loss of asset, scenario, Scott Neal, serious scenario, significant risk of loss, smooth live standard, smooth withdrawal rate, stress, stress test, sustainable live standard, traditional financial plan, treadmill, valid stress test, valuation level, variety of stress test, withdrawal, withdrawal rate, x., young spouse

As I am writing this, most of the big banks have just reported the results of their stress tests conducted

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