Not feeling financially fit as you enter 2020? If you take it one step at a time, there’s a lot you can do to improve your financial health. 1. Learn what you’re spending. • Build and balance a budget, understand where all your money is going. Trim unnecessary fat. You may not realize how much...
Could the name be any more awkward? The SECURE Act stands for "Setting Every Community Up for Retirement Enhancement" Act of 2019. The bill is designed to encourage retirement savings in various ways and to simplify administrative requirements in order to make it easier for employers to offer retirement plans. But experts say other tax...
The end of the year is fast approaching and TFG Financial wants clients to be aware of some significant year-end deadlines. Required Minimum Distributions for Retirement Plans • Taxpayers who are over age 70 ½ are generally required to take distributions from their individual retirement accounts and workplace retirement plans by the end of 2019....
The number of donor-advised fund accounts has tripled in the past four years and it is due to more than taxpayers responding to Tax Reform and “prefunding” their charitable giving. The number of donor-advised funds surged last year to more than 463,000 across community foundations, charities and commercially backed platforms. The funds can be used to...
The IRS tax treatment of ETFs and Mutual Funds are the same. Both are subject to capital gains tax and taxation of dividend income. But the way ETFs are structured means taxes are minimized for the investor and the ultimate tax bill – after the ETF is sold and capital gains tax is incurred –...
