Retire-On-Purpose-With-Purpose

Retire On Purpose, With Purpose

 
When it comes to managing your retirement, a small mistake can cause a major loss of capital. That is why it's important to speak with a financial advisor who is familiar with your Company's benefits. Schedule a call today..  
 
 
Schedule A Call

New Global Tax Accord Takes Shape

Jul 22, 2021 10:46:38 AM
written by The Retirement Group

After more than four years of international negotiations taking place mostly behind the scenes, 132 countries — representing more than 90% of worldwide gross domestic product (GDP) and including the Group of 20 (G20) large economies — recently agreed to a new plan to reform international tax laws in an effort to "ensure that multinational enterprises pay a fair share of tax wherever they operate."[1] If you work for a U.S. multinational enterprise such as SONY, your company may be subject to the new tax rules.


Read More

posted in Tax, Global

IRA Withdrawals that Escape the 10% Tax Penalty

Apr 4, 2020 12:53:00 PM
written by The Retirement Group

The reason withdrawals from an Traditional Individual Retirement Account (IRA) prior to age 59½ are generally subject to a 10% tax penalty is that policymakers wanted to create a disincentive to use these savings for anything other than retirement.1


Read More

posted in Financial Planning, Lump Sum, Pension, Retirement Planning, Tax

How Income Taxes Work

Apr 3, 2020 11:22:00 AM
written by The Retirement Group

The Internal Revenue Service estimates that taxpayers and businesses spend 8.1 billion hours a year complying with tax-filing requirements. To put this into perspective, if all this work were done by a single company, it would need about four million full-time employees and be one of the largest industries in the U.S.1


Read More

posted in Financial Planning, Lump Sum, Pension, Retirement Planning, Tax

Budget Check Up: Tax Time is the Right Time

Feb 9, 2020 9:23:00 AM
written by The Retirement Group

Every year, about 140 million households file their federal tax returns.1 For many, the process involves digging through shoe boxes or manila folders full of receipts; gathering mortgage, retirement, and investment account statements; and relying on computer software to take advantage of every tax break the code permits.

It seems a shame not to make the most of all that effort.

Tax preparation may be the only time of year many households gather all their financial information in one place. That makes it a perfect time to take a critical look at how much money is coming in and where it’s all going. In other words, this is a great time to give the household budget a checkup.

Six-Step Process


Read More

posted in Financial Planning, Lump Sum, Pension, Retirement Planning, Tax