Entries by Brian Dobbis

    Small-Business Retirement Plans: Explore Tax Credits

    March 24, 2017 12:18 PM by Brian Dobbis

    Certain business owners may be eligible for tax relief in the form of credits in connection with establishing a retirement plan.

    THE ROAD TO RETIREMENT with BRIAN DOBBIS 

    Many small businesses are unaware that they may be eligible for a tax credit in connection with the establishment of a group retirement plan. The small-business tax credit offsets some, if not all, of the start-up expenses credit for establishing and administering certain retirement plans. Not surprising, a recent survey by Pew Charitable Trusts shows that 71% of small- and medium-sized businesses don’t offer retirement plans, in part because they’re too costly to set up.1  (See Chart 1.)

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    IRA Season 2017: Top Tips from Our Webcast

    March 16, 2017 2:43 PM by Brian Dobbis

    Advisors had plenty of great questions during our March 7 session. Here’s how to catch the replay.

    THE ROAD TO RETIREMENT with BRIAN DOBBIS 

    With more and more clients looking to shore up their tax-advantaged nest eggs, there was an incredible turnout for last week’s retirement planning webcast, “IRA Season 2017: Top Tips and Strategies.”   

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    Why Health Savings Accounts Matter More Than Ever

    March 9, 2017 12:30 PM by Brian Dobbis

    Many experts expect healthcare costs will continue to rise, making it important that advisors help their clients plan ahead.  

    THE ROAD TO RETIREMENT with BRIAN DOBBIS 

    According to the Kaiser Family Foundation, health care has become somewhat less affordable, even among those with health insurance. Since 2015, larger shares of people with health insurance say they have a difficult time affording their healthcare costs: from 27% to 37% for premiums; 34% to 43% for deductibles; and from 24% to 31% for copays and prescription drugs.

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    Recurring IRA Questions from the Road

    March 2, 2017 2:52 PM by Brian Dobbis

    What happens if you made an excess Roth IRA contribution? Or if you have a hefty RMD and don’t need the money? Here are some answers. 

    THE ROAD TO RETIREMENT with BRIAN DOBBIS 

    Many advisors contact me directly with retirement questions. While some of those inquiries pertain to client-specific situations, a number of others are more general in nature. Sorting through that mix, I thought I would share two pertinent exchanges with the readers of this column.

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    Retirees Rejoice: No Age Limits on Roth IRAs

    February 23, 2017 2:55 PM by Brian Dobbis

    With increasing longevity, qualified investors may want to explore this option.  

    THE ROAD TO RETIREMENT with BRIAN DOBBIS 

    Is there ever an age or time when you are too old to fund a Roth IRA? The answer may surprise you. Traditional IRA contributions must cease after your seventieth year, whereas Roth IRAs do not impose an age restriction. Instead, an investor, regardless of age, is eligible at any age, assuming you or a spouse have earned income and satisfy an income test.

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    Retirement Tip: Teach Your Children about Roth IRAs

    February 16, 2017 3:25 PM by Brian Dobbis

    In an underutilized strategy, parents and grandparents can help minors save for retirement, or college, for that matter. 

    THE ROAD TO RETIREMENT with BRIAN DOBBIS 

    Would you like to help your kids build wealth at a young age? In these uncertain times, who wouldn’t? College expenses are already exorbitant, and by the time “centennials” (born after 1995) reach retirement age, Social Security might be a ghost of its former self.

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    Tax Tip: It’s Not Too Late to Fund Your IRA for 2016

    February 9, 2017 5:00 PM by Brian Dobbis

    Thanks to Emancipation Day, the funding deadline for a traditional or Roth IRA is April 18.

    THE ROAD TO RETIREMENT with BRIAN DOBBIS 

    Tax season has arrived—and you’re receiving and organizing a dizzying amount of tax records (1099s, W-2s, 5498s, etc.). Then it dawns on you that you forgot to fund your IRA last year. Maybe you’re looking to save more for your golden years or really need a tax deduction. Either way, there is good news as the tax law permits a prior-year IRA contribution to be made until the following year’s tax-filing deadline, excluding any extensions.

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    Retirement Alert: How to Determine if Your Traditional IRA Contribution Is Deductible

    February 2, 2017 12:25 PM by Brian Dobbis

    Do you know what it means to be an "active participant" in an employer plan? The details may surprise you—and help your nest egg.

    THE ROAD TO RETIREMENT with BRIAN DOBBIS 

    With tax time fast approaching, I often encounter confusion about what can and cannot be done with traditional IRAs and defined contribution [DC] plans in different scenarios. So here are some pointers that might help you juggle the two.

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    Funding Multiple Retirement Plans

    January 26, 2017 1:05 PM by Brian Dobbis

    If you have earned income from a side business, increasing retirement savings is easy—as long as you navigate the maze of rules.

    THE ROAD TO RETIREMENT with BRIAN DOBBIS 

    Many Americans are entrepreneurial, in that they work and have earned income from a side business in addition to their full-time jobs. Can they contribute to more than one retirement plan? It’s a great question, and one I get with more frequency. The short answer is, yes.

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    "Backdoor Roths" Still a Viable Strategy

    January 19, 2017 1:05 PM by Brian Dobbis

    For all the uncertainty about future tax policy, high-income earners may still rely on a popular workaround. 

    THE ROAD TO RETIREMENT with BRIAN DOBBIS 

    Anticipating new federal tax policies may be difficult, but the good news is that there are few changes (so far) to IRAs in 2017 that will affect retirement savers. 

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