Planning Opportunities with SECURE Act 2.0

Cameron Hamilton

Uncategorized

SECURE Act 2.0 is good for retirement savers. Key Takeaways:   RMD Age Delayed from 72 to 73, then 75 for those born in 1960 & later Expanded Roth savings opportunities Expanded savings opportunities, especially for pre-retirees   It’s becoming a holiday tradition.  On the morning of Christmas eve, I sat down to a cup … Continued

Open Enrollment Period

Cameron Hamilton

Weekly Update

This week, we have a quick video from Cameron Hamilton. Many of you are currently in an open enrollment period for health insurance. Based on the plans we are seeing, for many, it may be better to choose a High Deductible or HSA Eligible plan. Give us a call and we can help you decide … Continued

Corporate Strategy: Trick or Treat?

Cameron Hamilton

Weekly Update

Corporate strategies can tell opposing stories about a firm’s future   Key Takeaways: Earnings season has seen growth companies downgraded amid rate hikes CEO’s actions must be weighed by investors at a firm-specific level Layoffs, buybacks, CapEx, debt, & dividends each contribute to firm outcomes     We are in the middle of third-quarter earnings … Continued

Employee Stock Ownership & Options

Cameron Hamilton

Atheneum

Key Takeaways:   Company stock plans & stock options have many customizable details Employees should understand their stock plan’s features & tax consequences With correct utilization, employee stock can meaningfully increase compensation     When evaluating a job offer, it is best not to focus only on salary or an hourly wage.  We have the … Continued

Should Business Owners Raise Their Salary to Earn More Social Security?

Cameron Hamilton

Atheneum

Key Takeaways: Pass-through entity owners can choose to take profits as wages or distributions Increasing owner salary raises payroll tax liability but also increases future Social Security benefits Older owners and owners with non-working spouses and/or incomplete earnings records stand to benefit the most from increasing their salaries       Lower taxes are better, … Continued

Most Couples Shouldn’t BOTH Delay Social Security

Cameron Hamilton

Atheneum

Key Takeaways: Two-income households have more complex Social Security timing decisions The higher-earning spouse generally benefits from delaying payments The lower-earning spouse generally benefits from starting payments early We’ve written a previous breakdown on the Social Security timing decision.  Briefly, between ages 62-70, if you delay taking income, your monthly benefit grows.  We discussed that … Continued

Tax Savings on Company Stock

Cameron Hamilton

Atheneum

If you work for a publicly traded company, chances are you can own company stock inside your 401(k) retirement plan.  We’ve seen many workers nearing retirement who have accumulated substantial shares of company stock.  These workers are often unaware that they have an option with the tax treatment of these shares that could potentially result … Continued

Takeaways From a Week at the Chicago Booth School of Business

Cameron Hamilton

Weekly Update

As all the children in our community are getting ready to go back to school, I am reflecting on my week back in the classroom this summer. I was lucky enough to spend time at the Chicago Booth School of Business learning from the country’s leading practitioners in estate and tax planning. Earlier this year, I set … Continued

Markets Finally Believe Fed is Serious about Inflation

Cameron Hamilton

Weekly Update

The Fed raised rates 0.75% last week, the biggest single move since 1994 Market participants imply that rates will move from 1.75% to 3.56% by year-end Perception of a hawkish Fed may help avoid a wage-price spiral & severe recession   Last week the Federal Reserve raised rates by 0.75% or 75 basis points (bps). … Continued

Give and Get: Qualified Charitable Distributions

Cameron Hamilton

Atheneum

Key Takeaways Tax reform has decreased the households who itemize to about 10% of taxpayers. Those who don’t itemize may not realize tax benefits from charitable donations. Qualified Charitable Distributions help donors above age 70 ½ realize a tax benefit. Donors younger than 70 ½ should consider the timing of their contributions. With Scottie Scheffler … Continued