by Mosaic WSG, Ltd. | Aug 24, 2021 | Financial, Retirement, Taxes
The Setting Every Community Up for Retirement Enhancement (Secure) Act fundamentally changed the rules governing distributions from inherited retirement accounts. Inheriting an IRA or 401(k) under the new administration could create several adverse tax consequences...
by Mosaic WSG, Ltd. | Aug 17, 2021 | Financial, Investments, Retirement, Social Security, Taxes
Each type of retirement benefit has a different eligibility age. Your age plays a significant role in how much you can expect to receive from Social Security and what you need to do to avoid retirement account penalties. Key Milestones for Retirement: 49 — Max out...
by Mosaic WSG, Ltd. | Aug 10, 2021 | Financial, Health, Retirement, Taxes
Pre-tax contributions, tax-free withdrawals, and tax-free gains = the Holy Grail of savings opportunities. If you estimate yourself at the 25% tax bracket when you retire, and you put $60,000 into a savings account, you lose $15,000 to taxes; but if you put it in an...
by Mosaic WSG, Ltd. | Jun 1, 2021 | Financial, Taxes
Every year the federal government decides how much of your estate isn’t subject to taxes when you die. This year, thanks to inflation, it increased to $11.7 million. This means, when you pass away, the value of your estate is calculated, and any amount more than...
by Mosaic WSG, Ltd. | May 18, 2021 | Financial, Taxes
Candidates run campaigns on promises and plans, but that doesn’t mean they ever come to fruition. The Biden administration will maintain a Democratic majority in both the House and the Senate for at least the next two years, giving him a greater opportunity to...
by Mosaic WSG, Ltd. | Mar 22, 2021 | Financial, Taxes
There’s one piece of the retirement puzzle that no one likes: Required Minimum Distributions (RMDs). The withdrawals from tax-deferred plans are taxed as regular income, which means RMDs could push you into a higher tax bracket. And the increase in your adjusted gross...
