Deciding what happens to your 401(k) after you’re gone is more involved than many people realize. Unlike other assets that pass through a will, retirement plan assets are transferred based on the beneficiary designations on file with the plan administrator. That means thoughtful planning is required to ensure these funds go where you intend—and in […]
Can A Trust Be A Beneficiary Of A 401(K) Plan? Read More »
Building a strong financial future often involves choosing a retirement plan that adapts to varied goals. Although some people prefer uniform contributions, others favor something more flexible. Different timelines mean the pace of account growth can matter greatly. In that context, age-weighted profit-sharing plans stand out for acknowledging individual saving horizons, offering a customized strategy
Age-Weighted Profit-Sharing Plan: A 101 Guide Read More »
When it comes down to considering how to pass down wealth, it’s worthwhile to think about the potential impact of gift taxes on your long-term plans. Whether you’re making small, regular gifts or transferring large sums, a basic understanding of these potential tax obligations helps protect your financial future and that of your loved ones.
Georgia Gift Tax: What You Need To Know Read More »
Between the scenic coastlines, mild winters, and a welcoming culture, South Carolina has become a favorite among retirees seeking a laid-back lifestyle. Beyond its natural beauty, the lower living expenses add to the appeal, making this Southern spot stand out. As retirees explore destinations across the United States, many discover that the Palmetto State offers
South Carolina Taxes On Retirees Read More »
Although running a business in Georgia involves making decisions about various taxes, from standard filings to potential entity-level options, one approach you may consider is Georgia’s pass-through entity tax (PTET). Choosing this route can shift how certain owners fulfill their state tax obligations. This post illustrates how Georgia’s PTET works, who might benefit, and the
Georgia Pass-Through Entity Tax: What You Need To Know Read More »
Estate taxes can be a puzzling subject. You might wonder whether a South Carolina estate tax exists or if you need to worry about paying additional taxes beyond federal regulations. The good news is that understanding how these taxes work can empower you and your family members to make informed decisions and better prepare for
South Carolina Estate Tax: What Residents Need To Know Read More »
When planning to pass on your assets, understanding potential tax implications is a valuable step in preserving your legacy. Various taxes, including those on inheritance, may apply depending on factors like the nature and location of your assets. A clear understanding of these details can support the goal of reducing taxes so that more of
South Carolina Capital Gains Tax: What You Need To Know Read More »
Securing your financial future is rarely as simple as just deciding to save. You also have to choose how and where to invest your money. This is where retirement plans enter the picture. From individual IRAs and 401(k) plan options to more specialized strategies like a non-qualified deferred compensation plan, each route offers unique benefits
Deferred Compensation Plan vs. 401(K): What’s The Difference? Read More »
When planning to pass on your assets, understanding potential tax implications is a valuable step in preserving your legacy. Various taxes, including those on inheritance, may apply depending on factors like the nature and location of your assets. A clear understanding of these details can support the goal of reducing taxes so that more of
Supplemental Executive Retirement Plan (SERP) 101 Guide Read More »
When planning to pass on your assets, understanding potential tax implications is a valuable step in preserving your legacy. Various taxes, including those on inheritance, may apply depending on factors like the nature and location of your assets. A clear understanding of these details can support the goal of reducing taxes so that more of
Does South Carolina Have An Inheritance Tax? Read More »
10 Things to Consider When Planning to Transition into Retirement
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