Insights

Second Quarter 2016|Jim Williams| As a part of the year end legislation in 2015, Congress made permanent a special rule on IRA distributions that can be quite useful and beneficial to those IRA holders that are charitably inclined. Called the Qualifying Charitable Distribution (QCD) rule, the provision allows special tax benefits for an IRA owner who makes a distribution of IRA funds to a qualifying charity. The rule had been in place for several years before, but was of quite limited utility since the QCD was always in the "extenders" legislation that only were extended after the end of the year. That left the use of the provision in a state of being quite uncertain from a planning perspective. Again, now the QCD provision is permanent. How can QCDs work for you?

First Quarter 2013|Jim Williams| There is now a proposal to limit retirement accounts to about $3.4 million. My first reaction to this bit of news was quite negative. But then I started thinking about it and I realized that this is just a way of helping us do better financial planning. Yes, really. Read on.

Fourth Quarter 2012|Jim Williams| Earlier this month, a gridlocked Washington managed to pass a tax bill. After twelve years of uncertainty about tax rates at the end of the "Bush tax cuts" which were always temporary, tax rates are "permanent."

Fourth Quarter 2009|Jim Williams| 2010 is the year of Roth. The tax rules contain special provisions for 2010 for Roth conversions. This column should give you a head start on our current thinking on the matter.

Third Quarter 2006|Jim Williams| Buried in the various arcane and esoteric provisions of tthe Pension Protection Act of 2006 is a provision that allows the exclusion of up to $100,000 of income for contribution of IRA assets to charity for contributions made in 2006 and 2007, provided the donor has reached age 70½ (and other requirements are met).

Second Quarter 2001|Jim Williams| The recently enacted Tax Relief Reconciliation Act of 2001 includes some favorable changes in the law, including income tax changes, education related tax breaks, retirement savings and pension reform, and estate tax relief. While virtually any relief from federal taxes is welcomed, the "back-end loading" of the rate cuts and the "sun-setting" of the estate tax repeal make these changes less exciting than they might otherwise be.