Navigating Inherited IRA Rules: Key Changes and Strategies Post-SECURE Act Recent changes brought about by the SECURE Act and SECURE 2.0 Act have added complexity to inheriting an IRA. The estate planning and tax benefits once provided by the stretch IRA are largely no longer available, necessitating new strategies and tax planning approaches. Previously, the […]
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The Institute of Business & Finance (IBF) recently awarded Scott Brooks with the estate planning designation, CES™ (Certified Estate and Trust Specialist™). This graduate-level designation is conferred upon candidates who complete a 135+ hour educational program focusing on trusts, wills, probate, retirement benefits, caring for children, and what should be done after the death of
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A Re-Emergence of Disinflation June Recap and July Outlook In mid-June, the FOMC meeting revealed a significant drop in expectations for multiple rate cuts in 2024, with potential for only one rate cut later in the year. Despite this, positive inflation and labor market data seem to have mitigated market concerns regarding the Fed’s cautious
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The Institute of Business & Finance (IBF) recently awarded Scott Brooks the Social Security designation, CSS™ (Certified Social Security Specialist™). This graduate-level designation is conferred upon candidates who an educational program focusing on Social Security, Medicare, Medicaid, disability, retirement income, and the resulting tax ramification. CSS™ certification requires mastery of Social Security and Medicare benefits,
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Social Security retirement benefits are a cornerstone of financial security for many retirees. However, understanding and optimizing these benefits can be complex, with various factors affecting the amount you receive and the timing of your benefits. The checklist, “What Issues Should I Consider With My Social Security Retirement Benefits?”, is designed to help you navigate
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Market Commentary: May Recap and June Outlook In May, economic and market confidence surged as the Fed meeting early in the month saw Chairman Powell temper market pessimism by indicating that a rate hike was unlikely in the near term. The reversal of the inflation uptick from February and March, along with slowing economic data,
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Inheriting property can significantly impact your financial situation, especially when it comes to understanding the tax implications. One critical aspect to consider is whether you will receive a step-up in basis for the appreciated property you inherited. This can greatly affect the amount of capital gains tax you may owe if you decide to sell
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Navigating the intricacies of Medicare enrollment can be challenging, especially when it comes to avoiding costly penalties. Understanding the rules and timelines is crucial to ensuring you receive the healthcare coverage you need without incurring unnecessary expenses. The flowchart, “Will I Avoid Medicare Enrollment Penalties?”, is designed to help you determine whether you are on
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April Recap and May Outlook April brought a mix of challenges. Persistent inflation required the market and the Federal Reserve to reconsider the timing of interest rate reductions. Conflicts in Ukraine and the Middle East escalated, while in the U.S., college campus protests reached a critical point with police involvement. These events echo the summer
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