There are several things to consider as you weigh potential tax moves between now and the end of the year. Here are some tips to help you along the way.
Medicare Advantage (Part C) plans are an alternative to Original Medicare, offered by private companies that contract with Medicare to provide Part A hospital insurance and Part B medical insurance benefits, and often include prescription drug coverage and extra benefits. Competitive bidding and changes in Medicare payments to these plans have led to improved benefits and a large increase in the percentage of beneficiaries who choose the private option.
At the end of 2019, President Trump signed a federal spending package that included the Setting Every Community Up for Retirement Enhancement (SECURE) Act. A provision in this legislation effectively eliminated the “stretch IRA,” an estate-planning strategy that allowed an IRA to continue benefiting from tax-deferred growth, potentially for decades. Most nonspouse beneficiaries, including children and grandchildren, can no longer “stretch” distributions over their lifetimes.
IRA contribution limits The maximum amount you can contribute to a traditional IRA or a Roth IRA in 2020 is $6,000 (or 100% of your earned income, if less), which is unchanged from 2019. The maximum catch-up contribution for those
The power may be out in Marin County, but Lumina Financial Consultants is still open for business as usual. We continue to have access to our analytical tools and the ability to monitor and manage your accounts. For those who
Lumina sponsored a table at the Ladies Professional Golf Association Amateur event in Westchester, NY on Sunday, April 7.
We are pleased to announce that New Leaf Financial Advisory and Lumina Financial Consultants, LLC are joining forces in order to better serve the needs of women looking to take control of their financial lives.