We constantly remind clients to review their estate plans, making sure that wills and other estate planning documents (powers of attorney, living wills, and health care proxies) are up to date.

The American Rescue Plan Act of 2021 was signed into law on March 11. It aims to help about 158 million households get back onto their feet after a year-long struggle with the coronavirus pandemic.

It’s a busy time. But it’s not too soon to start thinking about taxes. Let’s take a look at 9 tax facts for tax-year 2020 along with tips that may save you money.

Last December, the SECURE (Setting Every Community Up for Retirement Enhancement) Act of 2019 became a reality. This far-reaching legislation will have a significant impact on everyone who has a 401(k)-or-similar employer retirement plan or IRA.

Ask the Experts is a financial forum for education and advice as CNB’s experts answer your questions on financial topics that interest you.

On December 18, 2015, President Obama signed into law the Protecting Americans from Tax Hikes Act of 2015. One provision benefitting seniors that was made “permanent” is the Qualified Charitable Distribution (QCD). I say permanent with tongue-in-cheek, of course, since very little Congress does can ever be considered permanent, particularly when it comes to tax legislation.

Ask the Experts is a financial forum for education and advice as CNB’s experts answer your questions on financial topics that interest you.  The experts of this show featured Jason Fitzgerald, CFP®, Senior Vice President, Wealth Advisor

Many of the numbers coming out of Washington that impact our tax and retirement planning lives are different in 2019, just as they tend to be every year.

Most of us are gathering 2016 data and getting ready to prepare (or have someone else prepare) our 2016 income taxes. It is important to be mindful of federal legislation that impacts tax returns we’ll be filing soon.

I often say that the Roth IRA, and more-recent Roth 401(k), is one of the greatest gifts bestowed by the US Congress on the American taxpayer. It amazes me that so many folks do not understand its value and, consequently, do not employ it as part of their retirement savings plan. When should the Roth be used?

Those of us offering advice in the financial planning world like to identify two primary time periods in our clients’ financial lives: accumulation phase and distribution phase. Here is some insight on how to create a distribution strategy.

On December 18, 2015, President Obama signed into law the Protecting Americans from Tax Hikes Act of 2015 (PATH Act) and the omnibus fiscal year 2016 budget bill. This legislation addressed many individual and business tax provisions which expired at the end of tax-year 2014. Here is a summary of some of the more-popular personal tax provisions impacted by the legislation.

The media have done a good job emphasizing the importance of diversification with regard to two factors: macro allocation and asset class allocation. However, there’s another very important diversification factor that’s often neglected: diversifying across account types (tax-deferred, taxable, and tax-free).

As I often like to say, “How can something that should be so simple be so complicated”. But, it’s true when it comes to inheriting retirement plans. The rules are many and confusing when managing the associated Required Minimum Distributions (RMDs). The penalty for violating such rules is severe – equal to 50% of the RMD amount.

Age 65 tended to be the standard retirement age back a generation or more ago. That was when working for a single company for 40 plus years and receiving a guaranteed lifetime pension during retirement were the norm. My, how