In late June, the IRS announced RMDs would be able to be reversed from any account requiring them through August 31st. Since the IRS is allowing this, it presents a potential tax planning opportunity.
The aid package was just one part of a larger funding bill, and it contained many provisions, most notably an additional round of direct payments to Americans.
On January 14th, President Biden presented his plan, titled the American Rescue Plan, for the next round of economic aid related to the ongoing pandemic.
Most notably, the bill included another round of direct payments to Americans, many of whom have already received the $1,400 (individually), plus per spouse and dependent/s.
Recently, I received a gift from the Iowa State Patrol in the form of a speeding ticket. In reflecting on this experience, it occurred to me that I took an unnecessary risk to attain something I didn’t need and ended up sacrificing money I didn’t have to lose.
Currently, a single solution to preserve or pass on ownership of digital assets doesn’t exist. This is where it becomes important to think about all of your digital assets and develop a plan for each. Here’s how to go about it.
Insurance is one of the few things you buy which you never hope to benefit from, because that typically means something bad has happened. I encourage you to take a few minutes to confirm items that could make a massive impact on your financial situation if an accident were to happen.
In my daily work with clients, the question often comes down to, “How much do I need to retire comfortably?” My usual answer is, “How long are you going to live, and what do you want to eat?!”
Did you know that there are just four uses of money? They are Owe, Grow, Give, and Live.
