Karla Abrams, EA, CFP®

Tax-Savvy Charitable Giving Strategies

Tax Planning, Uncategorized / By Karla Abrams, EA, CFP®

America holds the designation as the most charitable nation in the world. In 2020 alone, U.S. charitable giving totaled $471 billion. Interestingly, 69% of that giving came from individuals.

CARES Act – Retirement Plan Changes for 2020

Retirement Planning, Tax Planning, Uncategorized, Wealth Management / By Karla Abrams, EA, CFP®

Required Minimum Distribution Rules Are Suspended for 2020 In normal times, after reaching the magic age, you must start taking annual required minimum distributions (RMDs) from traditional IRAs and from qualified retirement plan accounts. The magic age is 70 1/2 if you attained that age before 2020 or 72 if you attain age 70 1/2 …

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Wealth Advisors do not provide specific tax/legal advice and this information should not be considered as such. You should always consult your tax/legal advisor regarding your own specific tax/legal situation. Separate from the wealth management plan and our role as wealth advisors, we may recommend the purchase of specific investment or insurance products or account. These product recommendations are not part of the wealth management plan and you are under no obligation to follow them. Life insurance products contain fees, such as mortality and expense charges (which may increase over time), and may contain restrictions, such as surrender periods.