posts by Anne Zavaglia - Beacon Hill Investment Advisory, LLC

Why You May Want to Consider a Roth Conversion Now

Tax policy will play a big role in the election.  The current tax rates are due to sunset after 2025.  That means for most taxpayers, there will be an increase in taxes in the future.  Should there be a change in administration after this election season, there is a possibility the rates will sunset sooner, …

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Are You Donating to Charity this Year?

Tax payers that itemize deductions on their federal income tax return can generally deduct gifts to qualified charities. The 2017 tax reform significantly increased the standard deduction resulting in far fewer taxpayers reducing their taxes by itemizing deductions.  To encourage charitable giving and provide a bit of tax relief, the Coronavirus Aid, Relief, and Economic …

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DOL Releases Interim Final Rule on Lifetime Income Disclosures

The U.S. Department of Labor (DOL) has released their Interim Final Rule in response to the SECURE Act’s requirement that administrators of defined contribution plans (such as 401(k) plans) provide participants with disclosures regarding estimated lifetime income payments. The SECURE Act amended the pension benefit statement rules under ERISA section 105 to include a lifetime …

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The Next Phase of Economic Relief

As the COVID-19 pandemic continues, Congress has introduced a number of additional economic relief bills to help Americans.  Late last month, Senate Republicans introduced the Health, Economic Assistance, Liability Protection and Schools (HEALS) Act followed by the Coronavirus Assistance for American Families (CAAF) Act. The House led Democrats passed the Heroes Act in May.  They …

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Thinking About a Roth Conversion This Year?

The low tax environment coupled with market volatility makes Roth Conversions even more appealing this year. The current tax rates are set to sunset after 2025; possibly sooner should there be a change in administration after this election season. Roth IRAs are an important retirement planning tool because not only do they grow tax free, …

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