Retirement benefits

Failing to pay taxes on side-gig earnings and keeping faulty records of business-related expenses must avoided to prevent an excessive tax burden.

This rise of the so-called grey divorce has created a number of uncommon and complex issues for retirement accounts.

Seniors can claim tax deductions for payments made on their homes, allowing them to reduce their tax burden when they retire.

It is important for entrepreneurs to have an exit strategy and to take control of their debt.

Ill-prepared investors are advised to vigorously plan their expenses and aggressively save in their 401(k)s and IRAs.

Developing a comprehensive plan can help "avoid the negative compound interest effect in a declining market."

More clients are opting to work after they retire "to stay active and contribute professionally while also supplementing their income.”

The Avantax Wealth Management parent views HK Financial as another way of working with CPAs and tax professionals branching into the field.

While some tax-planning tasks can be time-sensitive, the challenge is to tackle the others that aren’t in a calculated fashion, an expert explains.

The Secure Act was designed to expand retirement savers’ options but it has subsequently all-but-eliminated the stretch IRA for beneficiaries. It's on advisors to make clients aware of the major change.