by Fullerton FP | Jun 17, 2024 | Blog
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...
by Fullerton FP | May 24, 2024 | Blog
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...
by Fullerton FP | May 22, 2024 | Blog
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...
by Fullerton FP | Apr 18, 2024 | Blog
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...
by Fullerton FP | Apr 18, 2024 | Blog
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...
by Fullerton FP | Mar 26, 2024 | Blog
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...
by Fullerton FP | Mar 15, 2024 | Blog
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...
by Fullerton FP | Feb 21, 2024 | Blog
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...
by Fullerton FP | Nov 21, 2023 | Blog
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...
by Fullerton FP | Nov 21, 2023 | Blog
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...
