Thinking of planting that “For Sale” sign and heading for warmer pastures? Before you start picking out floor plans for a Florida condo, you might want to put down the packing tape. In the Garden State, leaving isn’t as simple as a handshake and a moving truck. Between the “Exit Tax,” a shifting “Mansion Tax,” and the questionable status of the state’s budget, the math on moving has changed.
New Hampshire, affectionately known as the “Granite State,” has quietly pulled off a sun-soaked Florida-level tax miracle, minus the palm trees and humidity. While Floridians boast about their endless white sandy beaches, New Hampshire counters with its own shimmering white ski slopes, cozy mountain towns, and now, a tax environment giving traditional retirement states a surprising run for their money. As of January 1, 2025, the state officially eliminated its Interest & Dividends (I&D) Tax, cementing its status as one of the most attractive tax havens in the Northeast, with no sunscreen required.
For many Americans approaching retirement, the 401(k) catch-up provision was one of the most practical and meaningful planning tools available. It was designed to help workers age 50 and older who, due to family obligations, housing costs, healthcare expenses, or career disruptions, were unable to fully maximize retirement savings earlier in life. By allowing additional contributions on a pre-tax basis, the rule helped late-career earners save more and reduce taxable income during what are often their highest earning years. With a new portion of the SECURE 2.0 Act taking effect this year, that lifeline was just ripped away.
Veterans deserve the retirement they’ve been dreaming about. Our guide explores the resources available to maximize benefits and help ensure a smooth and well-supported transition into retirement.
By Michael Russo Crafting tax-efficient strategies for affluent families is an essential part of preserving wealth and realizing long-term financial goals. Tax law complexities, coupled with shifting policies, require a complex and aggressive strategy. Keeping up with the most recent tax legislation and implementing strategic planning methods for minimizing tax liabilities is critical for maximizing […]
By Michael Russo Many provisions from the 2017 Tax Cuts and Jobs Act (TCJA) are scheduled to expire in 2025. Should you take action now? Unless Congress intervenes, key aspects of the TCJA will sunset on December 31, 2025. Now is the ideal time to assess your estate plan and tax strategy to preserve and […]
By Donald Albach Taxes are an inescapable part of life, touching nearly every financial aspect, from the income we earn to the things we buy, and even the investments and properties we hold. We come across taxes in many forms, like income tax, sales tax, and property tax. And when we travel, we’re faced with […]
When markets take a spill, especially when it comes to your retirement investments, it’s harder to find ways to meet your financial goals. If you were relying on IRA or 401(k) withdrawals to cover your expenses, doing so when markets are down would decrease the lifespan of your savings. And if you’re nearing retirement, market […]
Taxes are a common concern for people in retirement. You might be wondering how to start thinking about your tax strategy, so you aren’t taxed more than you need to be. These three scenarios can help start the conversation about what a comprehensive tax strategy might look like for you. Taking Too Much Income When […]
You’ll likely have several sources of income in retirement that can be taxed, such as IRA distributions and Social Security benefits. But, do you have any after-tax “buckets” that you can use strategically in retirement to help reduce your tax bill? There may be a few options available to you, so know how they work. […]
