by Heid Huiskamp Collins | Nov 21, 2022 | News
The SECURE Act (Setting Every Community Up for Retirement Enhancement) was one of the biggest blasts to retirement planning to come down the chute in many years when it was signed into law in 2019 and took effect the beginning of 2020. One big bonus was the...
by Heid Huiskamp Collins | May 13, 2022 | Financial Planning, News
A boon for most taxpayers was the increase in the standardized deduction starting in 2018. Prior to the Tax Cuts & Jobs Act, a full 30% of households itemized deductions; since the change, a mere 10% do. This year, single people can deduct $12,950.00...
by Heid Huiskamp Collins | Feb 22, 2022 | Financial Planning, News
You’ve lived a life together. You can close your eyes and remember walking down the aisle with grains of rice being sprinkled on your head and those early days of cheering each other on in your daily journeys whether that be a career or juggling all manner of duties...
by Heid Huiskamp Collins | Jan 3, 2022 | Financial Planning, News
Benjamin Franklin was famously quoted as saying that death and taxes are the only things in this life that are certain. If you are currently retired or nearing retirement, the big question is whether taxes collected, including payroll taxes of current and future...
by Heid Huiskamp Collins | Jan 3, 2022 | Financial Planning, News
Last month’s column was devoted to describing the consequences of late 2019’s SECURE (Setting Every Community Up for Retirement Enhancement) Act’s impact on the widely-used legacy-giving vehicle known as “Stretch IRAs”. Prior to January 1, 2020, a Stretch IRA...
by Heid Huiskamp Collins | Jul 29, 2021 | Financial Planning, News
At the end of 2019, Congress abolished a time-tested wealth legacy strategy called the “Stretch IRA” with the passage of the SECURE (Setting Every Community Up for Retirement Enhancement) Act. The rationale was that they were closing a “loophole” used mostly by...
