Each year, changes to tax laws and planning limits can affect how much you can save, what you owe in taxes, and how Social Security and Medicare benefits are calculated.

Financial planning numbers change every year, and even small adjustments can have a meaningful impact on taxes, retirement savings, and long-term planning decisions.

There has been A LOT of talk with our clients on the proposed Biden administration tax policy. This may affect people VERY differently based on if you make UNDER or OVER $400k annually. Biden’s tax plan focuses on raising taxes on corporations and affluent households, while increasing credits for moderate-to-lower-income households.

When saving for retirement, our clients will often ask which account they should be making contributions to – a traditional IRA or a Roth IRA? The answer depends on several different factors that should be considered and discussed.

A traditional IRA is a great option for those who are looking to save for retirement in a tax-deferred account. However, there are many factors to consider when determining whether you are eligible to make contributions, and whether such contributions will be deductible or not.