Retirement Watch Weekly
Inheriting 401(k) Plans has become Easier
Income taxes are likely to be lower for many who inherit 401(k) plan accounts and other employer retirement plan accounts, thanks to the pension reform law the President signed into law in August. The law puts non-spouses closer to an equal footing with spouses who inherit the accounts. Employers are not required to give heirs […]
The Newest Wrinkle in ID Theft
ID theft is a booming business, and not always for the crooks. Firms are responding to fears of ID theft with new services. A host of ways now exists to protect you from ID theft or limit the damages from theft. Not all these services are effective or worth the money. Don’t be stampeded into […]
New Tax Law Affects Pensions, Charities
In late July, Congress passed the most comprehensive changes in decades to retirement plans and also made it easier to make charitable gifts with retirement accounts. Most of the law is directed at the old-style defined benefit plans that pay a guaranteed income for life. Congress became concerned that too many employers were not properly […]
Why You Must Give Charitable Gifts Early
This newsletter long has been a proponent of making estate planning and charitable gifts early, if the giver can afford to. Recently, this approach was endorsed by Warren Buffett, with his widely-publicized plan to give most of his fortune to a series of foundations in coming years. Buffett actually has been behind the curve. The […]
IRS Pursues Non-Filers of Estate and Gift Tax Returns
The IRS believes that nonfilers of estate and gift tax returns are a major cause of the “tax gap” between taxes legally owed and those actually paid. From 1995 to 2000, estate tax returns filed increased from 86,000 to over 123,000. In 2004, only 74,000 estate tax returns were filed. The IRS is undertaking a […]
Nine Important Questions to Ask IRA Custodians
IRA custodians are not all the same. Most people know that and do some comparison shopping before they select a custodian. The comparisons usually end with fees and investment choices. But other IRA issues can matter more and can dramatically affect the percentage of your IRA that benefits your heirs. A custodian needs to be […]
How to Help Grand kids Avoid Debt
The best gifts to leave heirs often are not wealth or things. Knowledge, values and good habits are more important. From my vantage point, the best thing an older person can do for a younger one today is to provide an education on debt and debt management. Today’s youth do not learn about debt management […]
3 Myths About Investment Fees
Myths about investment fees are widespread among investors. The myths include mutual fund management fees. As a result, many investors pursue the wrong investments and earn lower returns than they should. It is easy to understand how investors stray down the wrong path regarding fees and expenses. Of the main elements of investment management – […]
