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Yes, the Employee Retirement Income Security Act (ERISA) protects 401(k)s from creditors after a bankruptcy. One of the provisions of the Act prevents creditors from liquidating your retirement savings. This usually applies regardless of the amount held in...

The vast majority of income tax filers in the United States, regardless of their age, would prefer to minimize their tax burden. How you can go about maximizing deductions will vary based on your assets, income sources and your annual expenses. There’s no...

While some aspects of life become simpler in retirement, taxes are not necessarily one of them. Determining whether you owe income tax on your Social Security Benefits and the amount you owe can require a bit of extra work. It’s one of the reasons why so many retirees...

It’s not exactly accurate to say Social Security is taxed twice, but it can certainly feel that way. This is often attributable to people seeing Social Security being withheld during their entire working life, then finding out in retirement that those earned Social...

Yes, Social Security is taxed as income for retirees – if the retiree’s combined income meets the minimum requirements. Combined income is your adjusted gross income (AGI) and nontaxable interest combined with half of your Social Security benefits. Individual filers...

How the Tax Brackets Different From the 2022 – 2023 Tax Year? Post-pandemic inflation had more of an impact on tax policy than some people may realize. The IRS did make some adjustments to avoid bracket creep, or the phenomenon where people are inadvertently pushed...

There are a variety of reasons an Arizona taxpayer may receive a higher state or federal income tax refund than they expected: You may be self-employed and overpaid into the EFTPS earlier in the year.  A professional tax preparer may inform you of your eligibility for...

The list depends on the account or property type as well as the attributes of your trusts and estate. Some assets and financial accounts of value are designed to automatically sidestep probate by going straight to named beneficiaries. This can include all types of...

Which sectors are best for your investment dollars in 2024 will be highly dependent on who you ask and how the year progresses. If you have questions about how to optimize and diversify your portfolio in the upcoming year, it’s likely in your best interest to speak...

Defensive Positioning and Early-Cycle Recovery As we approach a potential economic slowdown, adopting a more defensive portfolio position may be advisable for some investors. This could mean favoring fixed income rather than growth-oriented investments. Some...

The transition from private or employer-provided health insurance to Medicare is a pivotal juncture for people nearing or entering retirement. Many older Americans are understandably concerned about their continuity of care as they embark on this new life chapter....

There are four different Medicare “Parts,” each of which offers different types of coverage. Medicare Part D only covers prescription medications and is typically purchased by itself in a standalone policy or rolled into a Medicare Advantage plan (Part C)...