February 6th, 2019

The Difference Between Mutual Funds and ETFs

If you are new to the investing world, you may be wondering what the difference between mutual funds and exchange-traded funds are. While there are similarities between the two, the differences could determine whether one or the other, or a mix of both, makes the most sense for you. It’s quite important to understand the … Continue reading “The Difference Between Mutual Funds and ETFs”

January 7th, 2019

Why Now Could Be a Good Time for a Roth IRA Conversion

Roth IRAs are one of the best gifts that Congress has ever given Americans when it comes to saving money for retirement. Contributions grow tax deferred like with traditional IRAs, but withdrawals are usually tax-free if they’re made after you turn 59½ years old. Also, there are no Required Minimum Distributions (RMDs) with Roth IRAs … Continue reading “Why Now Could Be a Good Time for a Roth IRA Conversion”

December 10th, 2018

Year-End Tax Opportunities

Each year, U.S. taxpayers face several year-end deadlines which, if ignored, can be costly and in some cases punitive. In the latter category, consider people over age 70 1/2 who fail to take the full required minimum distribution from their IRA or 401(k). If they get the calculation wrong, or forget the distribution altogether before … Continue reading “Year-End Tax Opportunities”

December 3rd, 2018

Save Time and Money When it Comes to Donations and Tax Time

Carol Petrov discusses the impacts of the new charitable gifting laws, and how to save time and money when it comes to donations and tax time.

May 10th, 2018

The Many Benefits of a Roth IRA

The Roth IRA changed the retirement savings landscape when it was established in the Taxpayer Relief Act of 1997 becoming a fixture in many retirement income strategies. This analysis offers a closer look at the trade-off you make when you contribute to a Roth IRA versus other types of investment accounts. When compared to a … Continue reading “The Many Benefits of a Roth IRA”

April 10th, 2018

Montgomery County’s Revenue Decline: What It Means for Everyone

It’s been awhile since the U.S. economy has been as strong as it is right now. GDP growth is up, unemployment is down and the stock market is booming. In the midst of all this economic good news, though, Montgomery County is facing a serious revenue shortfall. The county is projecting a $120 million shortfall … Continue reading “Montgomery County’s Revenue Decline: What It Means for Everyone”

March 21st, 2018

Tax Efficient Retirement Planning

Will you pay higher taxes in retirement? Do you have a lot of money in a 401(k) or a traditional IRA? If so, you may receive significant retirement income. Those income distributions, however, will be taxed at ordinary income tax rates.  If you have saved and invested well, you may end up retiring at your … Continue reading “Tax Efficient Retirement Planning”

December 19th, 2017

The Tax Cuts and Jobs Act of 2017: How Will the Bill Effect You?

The Tax Cuts and Jobs Act of 2017 hasn’t been formally ratified by the U.S. House and Senate, but with votes scheduled for the House this afternoon and the Senate late tonight, the bill will likely be sent to the President’s desk by tomorrow morning. As you probably know, the House and Senate versions were … Continue reading “The Tax Cuts and Jobs Act of 2017: How Will the Bill Effect You?”

December 13th, 2017

End-of-the-Year Money Moves

What has changed for you in 2017? Did you start a new job or leave a job behind? Did you retire? Did you start a family? If notable changes occurred in your personal or professional life, then you will want to review your finances before this year ends and 2018 begins. Even if your 2017 … Continue reading “End-of-the-Year Money Moves”

November 9th, 2017

A Breakdown of the New Tax Legislation

Chances are, you’ve heard that tax “reform” is right around the corner. First, the White House released its tax legislation wish list. Now the House Republicans have released a proposal called the “Tax Cuts and Jobs Act,” which fleshes out some of the details. The House bill would reduce the number of tax brackets from … Continue reading “A Breakdown of the New Tax Legislation”