Overlooked Fiduciary Risks for Retirement Plan Sponsors
Wealth Management
DECEMBER 22, 2023
Potential failures range from cyber theft to fee inflation to document mismanagement.
Small Business Retirement Plans – SEP-IRA vs. Solo 401(k)
The Chicago Financial Planner
NOVEMBER 27, 2022
One of the best tax deductions for a small business owner is funding a retirement plan. Beyond any tax deduction you are saving for your own retirement. You deserve a comfortable retirement. If you don’t plan for your own retirement who will? You need to start a retirement plan today.
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Book of Secrets on the Month-End Close
What Your Financial Statements Are Telling You—And How to Listen!
Are Robots Replacing You? Keeping Humans in the Loop in Automated Environments
Data Talks, CFOs Listen: Why Analytics Is The Key To Better Spend Management
Trending Sources
Wealth.com Raises $30M To Provide Estate Documents To Advisors’ Clients (And More Of The Latest In Financial #AdvisorTech – October 2024)
Nerd's Eye View
OCTOBER 7, 2024
This month's edition kicks off with the news that digital estate planning platform Wealth.com has raised a whopping $30 million in Series A funding, following on the heels of Vanilla's follow-on $20M capital round just a few months ago – which on the one hand reflects the anticipated enthusiasm for solutions that can help advisors efficiently (..)
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#FASuccess Ep 432: Crafting “Input Deliverables” That Show Financial Planning Value To Clients Without Creating Busy-Work, With Seth Scott
Nerd's Eye View
APRIL 8, 2025
In this episode, we talk in-depth about how Seth built and provides his input deliverable (which calculates the appropriate amount of tax-exempt housing allowance pastors can take based on their individual circumstances, and even prepares a request and subsequent resolution that the Church's Board can then use) to demonstrate his expertise to prospective (..)
Personal finance links: taking actual risks
Abnormal Returns
MARCH 15, 2023
wsj.com) Retirement Retirement planning is a moving target. humbledollar.com) Retirement is, in part, about declaring career victory. wsj.com) How poorly drafted legal documents can land you in trouble. (thisisthetop.substack.com) Consumers are piling into CDs.
Personal finance links: ebbs and flows
Abnormal Returns
JANUARY 17, 2024
peterlazaroff.com) Robin Powell talks retirement planning with Justin King author of "The Retirement Café Handbook: Nine Accelerators for a Successful Retirement." evidenceinvestor.com) Frazer Rice talks with Jenny Rozelle about the roles and responsibilities in trust and estate documents.
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Personal finance links: shaming and blaming
Abnormal Returns
FEBRUARY 21, 2024
Rowe Price about non-financial considerations in retirement. morningstar.com) People work in retirement for any number of reasons. wsj.com) Dan Haylett talks retirement planning with Bec Wilson, author of "How to Have an Epic Retirement." nytimes.com) Why you should update your estate documents.
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Drafting RIA Advisory Agreements: Best Practices And Essential Elements To Include
Nerd's Eye View
AUGUST 24, 2022
a single person, a couple, a business, or a retirement plan) and the date on which the agreement will become effective. To start, the agreement should contain basic information about the adviser-client relationship, including who the client is (e.g., The agreement should also lay out some acknowledgments for the client to review.
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Drafting RIA Advisory Agreements: Best Practices And Essential Elements To Include
Nerd's Eye View
AUGUST 24, 2022
a single person, a couple, a business, or a retirement plan) and the date on which the agreement will become effective. To start, the agreement should contain basic information about the adviser-client relationship, including who the client is (e.g., The agreement should also lay out some acknowledgments for the client to review.
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The Latest In Financial #AdvisorTech (May 2024)
Nerd's Eye View
MAY 6, 2024
This month's edition kicks off with the news that self-directed retirement planning software provider NewRetirement has raised a $20M Series A round as the company demonstrates that its DIY tools really do turn a subset of consumers into bona fide prospects for financial advisors.
How much do I need to retire? Planning for Your Unique Retirement Needs
Carson Wealth
AUGUST 25, 2022
often fail to consider sequence of return, housing, longevity, health or family risks faced in retirement. Focus on Your Retirement Plan Rather Than a Magic Number. would be “How do I plan for retirement?“ And spending helps open conversations about the amount needed to comfortably retire.
All the Tax Benefits You Need for Your Small Business
Harness Wealth
APRIL 17, 2025
We will cover qualification criteria, documentation requirements, and practical strategies to implement throughout the year. We will cover qualification criteria, documentation requirements, and practical strategies to implement throughout the year. Travel, meals, and supplies must directly relate to legitimate business activities.
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Establishing Solo 401(k) Plans For Self-Employed Workers: Options, Contribution Limits, Deadlines, And More!
Nerd's Eye View
NOVEMBER 23, 2022
Among the several different types of retirement plans that are available to self-employed workers, solo 401(k) plans can offer the most flexibility and the ability to contribute the highest amount of tax-advantaged savings.
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Tax Savings Tips for Startups
Harness Wealth
APRIL 16, 2025
Each option presents unique advantages, with potential annual tax savings reaching thousands of dollars for well-documented home offices. Smart tech founders maintain detailed photographic documentation of their dedicated workspace, creating a clear record for potential future audits.
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8 Financial Planning Tips for Small Business Owners
Carson Wealth
JULY 3, 2024
Understand your tax obligations at the local, state and federal levels, and keep detailed records of income, expenses and tax-related documents. Plan for Your Retirement As a small business owner, it’s essential to plan for your retirement independently since you may not have the benefit of employer-sponsored retirement plans.
Reversing a Roth IRA Conversion
Harness Wealth
APRIL 16, 2025
The fundamentals of Roth and traditional IRAs Traditional IRAs have long served as a cornerstone of retirement planning, offering immediate tax benefits through deductible contributions while deferring taxes until withdrawal. This first step set in motion a carefully orchestrated sequence of events.
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Make Tax Time a Happy Time!
MainStreet Financial Planning
MARCH 7, 2023
Gathering all your documents is crucial to complete a tax return free of mistakes. It is a good idea to keep all your tax documents in one place by creating a physical or digital folder. It is a good idea to keep all your tax documents in one place by creating a physical or digital folder. Did you have AMT?
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How Long to Keep Important Financial Records
MazumaBusinessAccounting
MAY 31, 2022
Remember, the IRS recommends keeping tax-related documents for at least six years. Determining how long to keep financial records depends on several factors, including the record type and whether it’s for personal or business documentation. Some documentation has no expiration date, such as birth certificates and social security cards.
4 Moves You Can Make with Your Old 401(k)
Carson Wealth
MARCH 14, 2024
Be sure you know the details on balance requirements before you do – the account balance may need to exceed a certain balance to be allowed to stay in the plan. Your plan documents will outline the specifics of this provision, so be sure to check the balance requirement and if there are any deadlines by which you need to move your assets out.
Secure Act 2.0: What You Need to Know
Your Richest Life
JANUARY 20, 2023
Emergency Savings Beginning in 2024, some retirement plans could add an emergency savings component. Exemptions include businesses that are less than 3 years old, governmental plans, SIMPLE plans, church plans, and employers with 10 or less employees. document here. The Secure Act 2.0 Other Secure Act 2.0
Identifying the four stages of transition for widows
Million Dollar Round Table (MDRT)
JULY 21, 2022
This is the time to do comprehensive financial planning: retirement planning, investment planning, tax planning and estate planning. You can help her make those large purchases and housing decisions that she put off during the grief stage.
Microsoft’s 401(k) Retirement Plan Details
Cordant Wealth Partners
SEPTEMBER 8, 2022
The Microsoft 401(k) retirement plan offers many excellent choices among actively managed and index funds. Action Items & Summary Microsoft’s 401(k) retirement plan is a significant benefit for those working for Microsoft, but you can’t capture those benefits unless you take action.
Roth IRA vs Traditional IRA: Understand the Difference
Good Financial Cents
JANUARY 24, 2023
While they do share some similarities, there are enough distinct differences between the two where they can just as easily qualify as completely separate and distinct retirement plans. Either plan is an excellent choice, particularly if you’re not covered by an employer-sponsored retirement plan. Not exactly.
What is Retirement Planning & How a Certified Financial Planner Help You Achieve Your Goal
International College of Financial Planning
JULY 9, 2022
When we are busy working to earn a living and spending time with our family, first thing needs to think about is Retirement Planning. Generally, people think about Retirement planning after retirement. To plan for retired life important thing is financial plan.
Do You Have Missing Money? It’s Time To Check!
MainStreet Financial Planning
JUNE 7, 2023
Pension Guaranty Corporation National Registry of Unclaimed Retirement Benefits There are some organizations who claim they can help you find unclaimed money for a fee, but don’t do it. These sites listed, mostly governmental sites, are free to use and just takes a little effort to submit the documents to prove the money is yours.
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Mega Backdoor Roths: A How-to Guide
Harness Wealth
JANUARY 9, 2025
Both the Mega Backdoor Roth IRA and Mega Backdoor Roth 401(k) allow the additional contribution of funds to retirement plans after pre-tax and Roth contribution limits have been reached. Roth IRAs are also not subject to Required Minimum Distributions (RMDs), allowing more flexibility in retirement planning.
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Going All In To Solve A Retirement Shortfall
Random Roger's Retirement Planning
DECEMBER 15, 2023
600,000-$800,000 are workable numbers for long term retirement planning. That range might not equal anyone's retirement number but a couple of lifestyle tweaks or changes and I think it's a range people could adapt to. I guess what they are saying is that Gen-X thinks it needs $44,000/yr (4% of $1.1
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Financial Planning for a Divorce
Darrow Wealth Management
MARCH 31, 2023
Once the divorce is finalized, a crucial (but often overlooked) part of the process is updating estate documents and beneficiary designations. Here are some key considerations when financial planning for a divorce. Retirement accounts: IRAs vs 401(k)s. Here’s a checklist of post-divorce financial planning moves.
Year-End Financial Checklist
Walkner Condon Financial Advisors
NOVEMBER 11, 2022
As we look forward to 2023, the IRS recently announced that the contribution limits for employer-sponsored retirement plans are going up. You may want to review your contribution amounts and adjust for January payrolls if your goal is to maximize funding your retirement plan contributions. . IRA Accounts.
What Do Financial Adviser Designations Mean? What are the Letters after a Name?
Carson Wealth
JULY 12, 2022
Attorneys play a critical role in the financial planning process, particularly in estate planning. They can draft wills, trusts and legal documents as well as represent clients during life transitions. . In financial services, you might encounter an LLM in tax or estate planning. . Retirement.
Unlocking the Power of Net Unrealized Appreciation (NUA)
Fortune Financial
JUNE 2, 2023
In retirement, how you distribute that company stock will play a key role in determining your tax liability for its value. In the realm of investment and retirement planning, the concept of Net Unrealized Appreciation (NUA) holds significant importance. The remaining assets may be rolled over.
What To Do If Your Identity Is Stolen: 15 Key Steps
Clever Girl Finance
NOVEMBER 16, 2022
By filling and documenting this report quickly, you may also be able to limit your financial liability as well. Get access to any documents related to the identity theft. To better prepare, you should gather all the documents that relate to the theft. Correct your credit report. Clear your name of criminal charges.
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Unclaimed 401(k) Recovery: Securing Your Retirement and Family’s Future
Fortune Financial
APRIL 11, 2024
According to the Department of Labor , “Based on the experience of Council members, and testimony and conversations with recordkeepers, the value of uncashed retirement plan checks likely exceeds $100 million per year but could be considerably larger.
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2025 Tax Preparation Checklist: What You Need to File Taxes
Harness Wealth
OCTOBER 24, 2024
This article covers a comprehensive list of the most common forms, documents, and information needed to file taxes. To plan your tax timeline, see our article, 2025 Tax Deadline Information for Individual Filers. Income Documentation Records showing income are the most common type of tax information used to file taxes.
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Stop Overlooking These Valuable Workplace Benefits
Carson Wealth
OCTOBER 6, 2022
The employee benefits business has its own language and most workers — even if they read all of their onboarding documents — won’t necessarily understand the content. I blame it largely on the failure of employers to educate in a coherent and easy-to-understand fashion. 5 Employee Benefits You Might Be Missing Out On.
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How To Choose the Best 401(k) Plan for Your Employees
Fortune Financial
DECEMBER 23, 2022
Tax benefits and owner retirement savings options also make establishing a 401(k) plan a smart choice for employers. This guide will help you learn more about the advantages of offering retirement plans to employees, how to get started and options for effectively distributing plan information.
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Tax Filing Errors Freelancers & Contractors Often Overlook
Harness Wealth
MARCH 6, 2025
This contract serves as documentation for the IRS, substantiating your self-employment. Retirement contributions: Contributions to SEP IRAs, SIMPLE IRAs, or other qualified retirement plans can reduce your taxable income. Keep all receipts, invoices, bank statements, and other documentation.
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Best Roth IRA for Kids: Securing Your Kids’ Financial Future
Good Financial Cents
SEPTEMBER 15, 2022
Ad Make your kids' retirement plan work by investing in a Roth IRA Roth IRAs allow you to save money for their retirement, while providing the flexibility that traditional retirement plans lack. Otherwise, there’s no requirement for your child to make a direct contribution into the plan. Ads by Money.
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The CARES Act Supplement: New Relief Funds Authorized
Brown Advisory
APRIL 28, 2020
Documentation Preparedness Banks should now be in a position where they are facilitating applications. Unlike PPP loans, MSLP loans are not eligible for forgiveness, but a borrower may apply for both a PPP and MSLP loan.
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The CARES Act Supplement: New Relief Funds Authorized
Brown Advisory
APRIL 28, 2020
Documentation Preparedness. documentation showing the total of all health insurance premiums paid by the nonprofit or business under a group health plan for all employees. documentation of the sum of all retirement plan funding paid by the nonprofit or business (excluding contributions from the employees).
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Letter of Final Wishes (LFW)
Dear Mr. Market
APRIL 6, 2022
Aside from the legalities of estate planning, this exercise is perhaps the single most loving and considerate document you can create for your family that they will forever be grateful for. Review this document annually and share it with your executor so that everything is crystal clear.
How To Grow Your Retirement Business In The 2020 Economic Crisis (Webinar)
Indigo Marketing Agency
MAY 5, 2020
How To Grow Your Retirement Plan Business In The 2020 Economic Crisis. We’ve partnered with the experts at The Retirement Learning Center to update advisors on how the retirement plan landscape has been altered by the 2020 economic crisis. Save your spot today! So I’ll let John take it away from here.
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How to Maximize Tax Deductions for the 2025 Filing Season
Harness Wealth
JANUARY 29, 2025
Manage Required Minimum Distributions (RMDs) Required Minimum Distributions (RMDs) are mandatory withdrawals from certain retirement accounts, designed to stop individuals deferring taxes on these funds indefinitely. Timing RMDs : Begin taking RMDs by April 1 of the year after you turn 73.
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Charitable Donation Wealth Benefits
Park Place Financial
SEPTEMBER 30, 2022
To subtract your donations, you must itemize deductions using the Schedule A (Form 1040) document. . Establishing a private foundation could be key to your estate or heritage wealth planning. You also need to obtain the proper federal and state documents. Get Expert Guidance on Charitable Donations . 0 Comments. 0 Comments.
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