View from the Lake
Where Financial Planning meets the Real World
Jump-Start Your Child’s Retirement with a Roth IRA
How to Jump-Start Your Child’s Retirement One of the best retirement savings vehicles is the Roth IRA. With a Roth IRA, you make after-tax contributions, experience tax-free growth and have tax-free withdrawals (provided you take the money out after age 59.5 and satisfy a 5-year holding period). Roth IRAs make excellent savings vehicles for young […] Read More
How to Reduce Premiums on Your Marketplace Plan
As a part of the American Rescue Plan of 2021, Premium Assistance Tax Credits have been increased for anyone who is enrolled in a Marketplace plan for 2021 or 2022. The amount of the credit available at all income levels has increased and the cap eliminating the credit for higher-earning individuals has also been […] Read More
IRS Provides Details on April 15 Postponement
On Monday, March 29, the IRS issued additional guidance and details on its announcement to postpone the April 15 tax filing deadline for 2020 individual tax returns. Below are the highlights from this announcement: The tax filing deadline for 2020 individual income tax returns was extended to May 17, 2021. The deadline for making tax […] Read More
Social Security Benefits for Spouses, Children and Survivors
Choosing when to apply for Social Security benefits is an important decision and can greatly impact a person’s ability to meet their retirement goals. The decision becomes more complex if a person is or was married or has children eligible to receive benefits. It’s possible those individuals could also be entitled to benefits based on […] Read More
The American Rescue Plan Act of 2021
On March 11, President Biden signed the American Rescue Plan Act into law, his first major piece of legislation as president. There are a large number of provisions in this law. Below are the key provisions most likely to impact you: 2021 Recovery Rebates As with past COVID-relief bills, the American Rescue Plan Act provides […] Read More
Top Ten NON-Tax Estate Planning Tips
Historically, planning to avoid paying estate tax when you pass away was a top-priority discussion for many families. However, estate taxes currently apply only if you have an estate worth more than $11.7 million (and twice that if you are married). Obviously, that means most people don’t need to worry about estate taxes today. […] Read More
Bitcoin – Should you “invest?”
Should you “invest” in Bitcoin? The popularity of cryptocurrencies, and in particular Bitcoin, center around people’s varying beliefs in its role in the global landscape both today and in the future. Bitcoin can be viewed as a store of value, a decentralized replacement to fiat (paper) currency, or a long-term alternative investment. Functionally, the underlying […] Read More
