Navigating Healthcare Taxes
As you approach retirement, it’s important to be aware of potential taxes that could affect your healthcarecosts, particularly if your income exceeds certain thresholds. Under The Affordable Care Act, individuals with higher income levels are subject to an additional 3.8% Medicare surtax on investment income, including taxable interest, dividends, capital gains, and rental property income….
A New Year’s Perspective on Market Trends and Opportunities [Matt’s Minutes January 2025]
Matt Curfman, CFP®, CEO & Co-Owner of Richmond Brothers, discusses the significant developments of 2024 and what Richmond Brothers is anticipating for the new year ahead. What does Richmond Brothers feel will continue to impact the sectors in 2025? Tune in to find out! Or check out the Closed Captions here! Sources: Research Reports Ycharts…
New Year’s Resolutions
Improving one’s financial health is often somewhere on the list of New Year’s resolutions, as many look toward 2025 with hopes of starting fresh. As you resolve to stick to your budget and increase your savings, don’t forget to add “organize retirement accounts” to the list. The new year provides a great opportunity to review…
The power of compounding
The power of compounding emphasizes the profound impact of small contributions over time. If offered a million dollars or a penny that doubles every day for 30 days, would you choose the million dollars? Many would not realize that smaller amounts can become large amounts over time. Similarly, many Americans have the power of compound…
How much control do you want over your heirs’ inheritance?
When the time comes for your beneficiaries to receive your IRA assets, are you confident they will use their inheritance how you’d want them to? There are options available for you to have varying levels of control over how your beneficiaries use your assets after you’ve passed. For example, you may want to consider a…
2024 Holiday Matching – DEADLINE EXTENDED
We haven’t quite reached 100% of our goals for this year, so we are extending our deadline to Friday, December 20. Please help us us to double the impact for one of the organizations below! Want to make YOUR charitable gift go further? Once again, Richmond Brothers is offering matching funds for donations made to…
President Trump wins. Now what?
President Trump has won reelection; what does that mean for investors? Let’s discuss. As of writing, Republicans have won the White House and a Senate majority, and may win a House majority.1 Markets reacted to the news by rallying to new highs.2 Does that indicate they see president-elect Trump’s promises as favorable for stocks? Or…
Planning for HSA Distributions
Health Savings Accounts (HSAs) offer tax benefits that can help you save for future healthcare costs. But how do you access the funds for out-of-pocket medical expenses once you’ve started saving? Like all qualified savings plans, you need to play by the IRS rules to enjoy the tax benefits and avoid expensive penalties. Failing to…
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