Vision Care Insurance
Vision Care Insurance
Apr 18, 2023 9:15:00 AM
written by
The Retirement Group
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posted in Financial Planning
Auto Loans
Apr 18, 2023 8:30:00 AM
written by
The Retirement Group
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posted in Financial Planning
Rollovers
Apr 18, 2023 8:04:07 AM
written by
The Retirement Group
In general, a rollover is the movement of funds from one retirement savings vehicle to another. You may want, or need, to make a rollover for any number of reasons--your employment situation has changed, you want to switch investments, or you've received death benefits from your spouse's retirement plan. There are two possible ways that retirement funds can be rolled over--the 60-day rollover and the trustee-to-trustee transfer.
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SECURE 2.0 Adds New Early Withdrawal Exceptions
Apr 13, 2023 12:09:00 PM
written by
The Retirement Group
The 10% penalty tax generally applies to withdrawals prior to age 59½ from IRAs, employer-sponsored plans [such as 401(k) and 403(b) plans], and traditional pension plans, unless an exception applies. The penalty is assessed on top of ordinary income taxes.
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posted in Financial Planning, Withdrawal, 2023, SECURE Act
Federal Income Tax Returns Due for Most Individuals in 2023
Apr 3, 2023 12:08:00 PM
written by
The Retirement Group
The IRS has postponed the deadline to file federal income tax returns and make tax payments for certain New York storm victims until May 15, 2023, and to July 31, 2023, for certain Mississippi storm victims. The deadline has been postponed for disaster-area taxpayers in most of California and parts of Alabama and Georgia until October 16, 2023 (there is no need to file for an extension). The current list of eligible localities and other details for each disaster are always available on the Tax Relief in Disaster Situations page on irs.gov.
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posted in Financial Planning, Returns, Income Tax, 2023, Tax Season
Bank Failures Shine Light on Interest Rate Risks
Mar 29, 2023 12:08:00 PM
written by
The Retirement Group
This news was alarming to savers who worried their own bank accounts could be at risk and investors who feared a wider financial crisis. To help restore confidence in the U.S. financial system, the federal government pledged to make all depositors whole and to support other banks that might face liquidity issues stemming from the rapid rise in interest rates. 3
These events have drawn new attention to how banks operate and the risks they take to earn money on customer deposits, as well as the government's role in regulating and supervising bank activities.
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posted in Financial Planning, Interest rates, Retirement, 2023, Banking
U.S. Banking Crisis: Should You Be Worried?
Mar 27, 2023 12:45:00 PM
written by
The Retirement Group
With the media focused on these and other related stories, you might be concerned about your own deposit accounts. The good news is that most individuals don't need to worry. Here's why.
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posted in Financial Planning, Finances, 2023, Banking
There's Still Time to Fund an IRA for 2022
Mar 24, 2023 12:07:00 PM
written by
The Retirement Group
You can contribute to a traditional IRA, a Roth IRA, or both. Total contributions cannot exceed the annual limit or 100% of your taxable compensation, whichever is less. You may also be able to contribute to an IRA for your spouse for 2022, even if your spouse didn't have earned income.
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posted in Financial Planning, Retirement, IRA, 2023, Funds
IRS Issues Guidance on State Tax Payments
Mar 16, 2023 10:30:00 AM
written by
The Retirement Group
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posted in Financial Planning, Tax, Retirement, IRS, 2023
Financial Survival After a Job Loss
Mar 15, 2023 8:29:00 AM
written by
The Retirement Group
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posted in Financial Planning, Lump Sum, Pension, Retirement Planning