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Articles by Mathew Ryan
To Roth or Not to Roth (401k)?
A common sentiment among investors is to always contribute towards a Roth account when able. However, when it comes to 401(k) contributions, the decision to “Roth or not” isn’t quite as clear. IRAs and 401(k)s (or other qualified retirement plan accounts) have different attributes and therefore require different considerations. Roth vs.
How do you pay your income taxes?
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How Do You Pay Your Income Taxes?
Withholding is easy, but estimated tax payments may save you a penalty! Understanding how estimated quarterly tax payments work can help prevent an unexpected tax bill or potential underpayment penalty. Not everyone can rely on withholding from their paychecks. Business owners, independent contractors, retirees, and even traditional employees with income from other sources may need to make estimated tax payments throughout the year.
Equity Compensation: Private vs. Public Companies
Getting paid in company stock can be a great perk, but it's not always as simple as it sounds. A little clarity can go a long way in helping you make smart decisions. Restricted Stock Units (RSUs) RSUs are the most common type of equity compensation, especially in public companies. Think of them as a promise: your employer is saying, "If you stay with us for a certain period of time, we'll pay you with shares." For example, you might be granted 1,000 RSUs that vest over four years.
Tax day: A checkpoint, not a finish line
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Tax Day – A Checkpoint, Not a Finish Line
While tax legislation may be complex, filing your own income tax return shouldn’t be - if you plan appropriately! Streamlining Your Process Each year, before filing my personal return, I create a checklist (or use the spreadsheet I created the year prior if my personal situation remained unchanged) and follow that as a guide to ensure that I not only capture all forms and documents I expect to receive but also consider applying time-sensitive and ongoing tax strategies.
Year-End Planning - Control the Chaos
Top 100 Bedel Financial Named to CNBC’s Best Financial Advisor Firms....LEARN MORE Introduction While the holiday season is consuming much of your time, it’s important that you don’t miss some important year-end tax deadlines. Time’s Ticking First, the year-end must-dos! These items have a hard deadline of December 31, so make sure you give yourself enough leeway to avoid running afoul of the powers that be.
Year-end planning: Control the chaos
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Succession Planning for Family Farms
Notice: It has come to our attention that an online WhatsApp group has impersonated our company’s likeness, and even staff members of our firm, to create a chatroom to provide specific investment recommendation. Please know we are in no way affiliated with this group and do not, nor would we ever, provide investment advice through such channels.
The Eli Lilly dilemma
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The Eli Lilly Dilemma
Notice: It has come to our attention that an online WhatsApp group has impersonated our company’s likeness, and even staff members of our firm, to create a chatroom to provide specific investment recommendation. Please know we are in no way affiliated with this group and do not, nor would we ever, provide investment advice through such channels.
How the One Big Beautiful Bill Act Impacts Charitable Giving
Notice: It has come to our attention that an online WhatsApp group has impersonated our company’s likeness, and even staff members of our firm, to create a chatroom to provide specific investment recommendation. Please know we are in no way affiliated with this group and do not, nor would we ever, provide investment advice through such channels.
Taxpayer’s Guide to the “One Big Beautiful Bill”
Notice: It has come to our attention that an online WhatsApp group has impersonated our company’s likeness, and even staff members of our firm, to create a chatroom to provide specific investment recommendation. Please know we are in no way affiliated with this group and do not, nor would we ever, provide investment advice through such channels. To verify the identity of any of our employees, please click on contact us and we will respond promptly....Contact Us Time is funny.
Wealth transfer strategies
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Wealth Transfer Strategies
Notice: It has come to our attention that an online WhatsApp group has impersonated our company’s likeness, and even staff members of our firm, to create a chatroom to provide specific investment recommendation. Please know we are in no way affiliated with this group and do not, nor would we ever, provide investment advice through such channels.
The Alabama News Center - Alabama gets first of two future assault aircraft virtual prototypes
By: Mathew Ryan / Redstone Arsenal Program Executive Office, Aviation The Army has accepted its first MV-75 Future Long-Range Assault Aircraft (FLRAA) virtual prototype (VP) at Alabama’s Redstone Arsenal. Bell Textron, the original equipment manufacturer contracted to design and build the FLRAA weapon system, will deliver two VPs. Bell is scheduled to deliver the second VP in a few days to the U.S. Army Aviation Center of Excellence at Alabama’s Fort Rucker.
Alabama gets first of two future assault aircraft virtual prototypes
By: Mathew Ryan / Redstone Arsenal Program Executive Office, Aviation The Army has accepted its first MV-75 Future Long-Range Assault Aircraft (FLRAA) virtual prototype (VP) at Alabama’s Redstone Arsenal. Bell Textron, the original equipment manufacturer contracted to design and build the FLRAA weapon system, will deliver two VPs. Bell is scheduled to deliver the second VP in a few days to the U.S. Army Aviation Center of Excellence at Alabama’s Fort Rucker.
The Nanny Tax. How Does it Work?
For many families, the end of the school year means hiring a nanny. As an employer (yes, the IRS considers you an employer), you are now responsible for withholding and paying certain taxes on behalf of your employee. No pressure, right? Who Exactly Are We Talking About? When an individual works in someone's home and has specific tasks and responsibilities dictated by the homeowner, the IRS considers that individual a household employee.
Traditional vs. Roth IRAs
Between now and April 15th, millions of taxpayers can make a 2024 or 2025 IRA contribution. With the tax deadline approaching for 2024 contributions, understanding the nuances of Traditional and Roth IRAs can potentially lead to tax savings. Traditional IRAs Traditional IRAs provide a tax-advantaged way to save for retirement. For 2024 and 2025, the annual contribution limit is $7,000, with an additional $1,000 catch-up contribution allowed for individuals aged 50 and above.
How to Access Retirement Funds Before Age 59 1/2
The average retirement age in the U.S. falls in the early 60’s. That puts new retirees over the age where they can access their retirement funds without penalty (59 ½). For those who retire before that magical age, is there a way to access their retirement savings without penalties? The Rule of 55 The rule of 55 is an IRA guideline that allows workers to avoid the 10% early withdrawal penalty for distributions from a 401(k) or 403(b) account.
New and Updated 2025 Tax Laws
Happy New Year, and welcome to 2025! With the dawn of a new calendar year, some tax laws have been updated, some have changed, and others are set to end. You may want to bookmark this article and reference it as you move through the year. Retirement account contributions For 2025, the maximum IRA or Roth IRA contribution is $7,000. If you are age 50 or older, your maximum is $8,000. The maximum retirement plan contribution (401k, 403b) is $23,500.
“Trump Accounts”: A Family’s Guide to One Big Beautiful Opportunity
Notice: It has come to our attention that an online WhatsApp group has impersonated our company’s likeness, and even staff members of our firm, to create a chatroom to provide specific investment recommendation. Please know we are in no way affiliated with this group and do not, nor would we ever, provide investment advice through such channels.
401(k) Contribution Types: What to Consider
For a large number of workers, the primary vehicle for retirement savings comes through their 401(k). Half the battle is simply making contributions to these accounts and if you are doing that, good for you. However, many Americans don’t give much consideration to the type of contribution that they are making. Making an informed decision on whether to make traditional, Roth, or even after-tax contributions can have a big impact on what your retirement will look like.
Open Enrollment Excitement!
Making the optimal employee benefit elections can mean protecting your family in case something unexpected happens; improving your overall long-term financial security; and saving you money! Health Insurance A very common employee benefit is health insurance. If there are multiple plan options, how does one choose the best?
Financial Advice for New Parents
Focusing on the big picture is not easy for most new parents. I'm currently learning, as my wife and I are expecting our first child in just a couple months. I couldn't be more excited to meet our baby girl. However, I have to admit I'm nervous about the upcoming sleep deprivation, figuring out naps and feeding schedules, daycare routines, etc. Something that has helped alleviate stress is having a financial game plan.
COBRA or Marketplace Health Insurance - What’s the Difference?
Considering early retirement? Or maybe transitioning from one job to another? Then you are probably wondering how to maintain your health insurance coverage. Two common options are COBRA and Marketplace health insurance. Both allow you to maintain or acquire health coverage, but they differ significantly in cost, coverage, and eligibility. Is one better than the other? Which one is right for you and your family? This is a highly individualized decision.
Accidents happen: Are you covered?
Listen to this story This audio file is brought to you by 0:00 0:00 Loading audio file, please wait. 0.25 0.50 0.75 1.00 1.25 1.50 1.75 2.00 If a visitor falls at your home, will your insurance cover all the costs? It depends. Your homeowner and auto policies provide liability coverage, but if it isn’t enough, you may be stuck. A large liability judgement could jeopardize the financial security of your family. What can you do?
Accidents Happen: Are you covered?
If a visitor falls at your home, will your insurance cover all the costs? It depends. Your homeowner and auto policies provide liability coverage, but if it isn’t enough, you may be stuck. A large liability judgement could jeopardize the financial security of your family. What can you do? Have you considered the importance of obtaining umbrella liability insurance? Many times, umbrella coverage is overlooked. Unlike homeowner, auto, and health insurance, umbrella policies are not required by law.
Family Gifting Strategies
Giving financial gifts during one’s life means benefiting family members sooner rather than later, along with the added enjoyment of witnessing the impact on others. Awareness of gift tax rules is imperative when structuring a strategy. Whether gifting to adult family members or children, there are many ways to find a balanced approach to transferring assets. Gifting Rules The federal government specifies both annual and lifetime gift tax exclusion amounts.
Roth conversions and capital gain harvesting–why both have their place - Inside INdiana Business
Listen to this story This audio file is brought to you by 0:00 0:00 Loading audio file, please wait. 0.25 0.50 0.75 1.00 1.25 1.50 1.75 2.00 Though we cannot predict how future legislation may impact tax rates, we can use current information and a historical perspective to devise strategies to better position our overall financial situation. As a financial planner, my focus is on helping our clients achieve their financial goals, which entails maximizing every dollar.
Roth Conversions and Capital Gain Harvesting - Why Both Have Their Place
Though we cannot predict how future legislation may impact tax rates, we can use current information and a historical perspective to devise strategies to better position our overall financial situation. As a financial planner, my focus is on helping our clients achieve their financial goals, which entails maximizing every dollar. This can be accomplished by limiting clients' tax exposure on distributable income from their retirement or brokerage accounts.
Planning for a Sunset with a Tax Planning Perspective
When the sun sets on December 31, 2025, a substantial amount of tax legislation could go with it. In 2017, the United States Congress enacted the Tax Cuts and Jobs Act (TCJA). This bill significantly changed the US Tax Code, benefiting corporations and individuals. However, the bill was only scheduled to be effective until the end of 2025.
Investing in Uncertain Times
While numerous types of risks are associated with an investment portfolio, most investors are focused on the risk of a large stock market decline and its impact. What can be done to hedge those risks? Less Stocks More Fixed Income? For investors looking to lower their portfolio volatility, many more options are available today than in years past. The first option is to lower the amount of stocks you own. This was more difficult to do when bond and cash yields were virtually zero.
Tax Planning for the Soon-to-Be Retiree
Retirement can be a daunting topic—the idea of not receiving a paycheck anymore and starting to spend down your life savings can cause fear and anxiety. However, what if I told you that not receiving a steady paycheck is the best thing to happen to your tax planning options? The Right Candidate Individuals approaching retirement with the most tax flexibility carry a few common traits. First and foremost, they have a low tax base.
Table those capital gains: 1031 exchanges
Section 1031 of the IRS tax code allows an investor to defer the gains on a potential real estate sale if they purchase a property of similar nature and meet certain requirements as well as time constraints. How does this all work? The Logistics To qualify for a 1031 exchange, a few characteristics must be met.
Table Those Capital Gains - 1031 Exchanges
Section 1031 of the IRS tax code allows an investor to defer the gains on a potential real estate sale if they purchase a property of similar nature and meet certain requirements as well as time constraints. How does this all work? The Logistics To qualify for a 1031 exchange, a few characteristics must be met.
Understanding the Kiddie Tax: How it Works and What Parents Need to Know
A few decades ago, high-income families moved investments into their children's names so their investment income would be taxed at a lower rate. As you might suspect, Congress wasn't a fan of this strategy and retaliated with the Kiddie Tax in 1986, which was restructured in 2018 and again in 2019.
New Year, New Money Resolutions
According to the recent BMO Real Financial Progress Report, 74% of Americans feel optimistic about their financial situation going into 2024. At the same time, however, nearly half of Americans say their New Year's financial resolutions have changed due to higher living costs. So what's the true story? If setting money goals, creating budgets, and minimizing spending is at the top of your 2024 to-dos, the BMO survey suggests you're not alone.
Developing & Sharing your Legacy Plan
Too often individuals pass away before sharing personal information with spouse, children, other trusted individuals, and/or the individual settling their estate, which can complicate the estate settlement process. Losing a loved one is difficult and having time to grieve is necessary for the healing process. That’s why it’s so important to educate another about what you have and what you want to happen should you fall ill or pass away while you can.
Inheriting an Inherited IRA
It feels like yesterday the SECURE Act passed, changing the distribution requirements for the beneficiaries of Inherited IRAs. But the time has come when we are starting to see the ripple effects of these changes, specifically when it comes to inheriting these Inherited IRAs. As a refresher, two of the most notable changes of the SECURE Act were the elimination of the "stretch" provision for non-eligible beneficiaries and the creation of the 10-year rule.
Estimated tax payments
Planning for taxes never ceases. Whether you are a business owner, independent contractor, or a company employee, tax planning is a year-round endeavor. One component of that planning is estimated tax payments. But who needs to pay them? How much needs to be paid? And, when are they due? Tax Payments – The Basics To fully understand the concept, let’s start at the basics. The IRS tax system operates as a pay-as-you-go construct.
Millennials Doing Estate Planning
Millennial consumers have gone from storming their local Barnes and Noble stores when a popular book releases to pre-ordering an eBook on their Kindle. They’ve traded in their flip phones for smartphones and DVDs and CDs for streaming. They’ve lived through world-altering events like 9/11, the 2008 financial crash, and the COVID-19 Pandemic. These technological changes and economic events have made millennials more adaptable to change and altered their thoughts about money and the future.
Estimated Tax Payments
Planning for taxes never ceases. Whether you are a business owner, independent contractor, or a company employee, tax planning is a year-round endeavor. One component of that planning is estimated tax payments. But who needs to pay them? How much needs to be paid? And, when are they due? Tax Payments – The Basics To fully understand the concept, let’s start at the basics. The IRS tax system operates as a pay-as-you-go construct.
Protect your estate from taxes
Death and taxes are two of life’s unavoidable certainties! Though often viewed through separate lenses, in the financial world, the two are often intertwined. When an individual passes away, their estate could be faced with the prospects of estate taxes, which can be as high as 40%! Estate Taxes – Will I Have to Pay? Currently, the individual lifetime gift-tax exemption amount is $12.920M.
Business entities: Choosing the appropriate structure
Starting your own business isn’t for the faint of heart. One item that causes much consternation is how to structure your new business from a legal and tax standpoint. Here are some of the more common business entity types and the benefits and downsides of each. Entity Options – What Do I Choose? Sole-Proprietorship. The most common and least complex structure is the sole-proprietorship. The ‘sole-prop’ is tailored to companies with one owner.
Inheritors of IRAs – Proposed Changes - Inside INdiana Business
In one of his fables, Aesop’s coined the phrase “leave well enough alone.” Though his commentary and usage of the phrase centered around a fox and a hedgehog, the expression is well-suited for the new proposed changes to the SECURE Act that will impact distributions to IRA inheritors. On February 23, 2022, the IRS issued proposed regulations to address any ambiguity in the SECURE Act that was passed in December of 2019.
Goodbye 2021 – Oops, What Did I Forget? - Inside INdiana Business
All those year-end tax-planning issues! You only have a few more days to wrap up your tax savings. What do you need to know before saying goodbye to 2021? Ongoing political discourse and budget proposals have made financial planning in 2021 more challenging and stressful for individuals as well as professional advisors. Early versions of the Build Back Better (BBB) Act called for reducing the estate tax exemption to pre-Tax Cuts & Jobs Act (TCJA) levels.
How to Calculate Medicare Premiums
As you hit the retirement milestone, one of the items you'll likely need to address is enrolling in Medicare. Medicare has many complexities and the calculation of premiums that you will pay is one o
Mega Backdoor Roth: Too Good to be True?
Have you been told you aren't eligible to make Roth IRA contributions? Your income may be above the thresholds to contribute directly to a Roth account. However, that may not be the end of the story. There are two other paths to building up assets in a Roth IRA: Backdoor Roth IRA contributions and Mega Backdoor Roth IRA contributions.
2021 Tax Outlook: Proposals & Planning
"Uncertainty is the only certainty there is." It is doubtful that John Allen Paulos was pondering taxation and financial planning when he made this claim, but the sentiment applies. We are in the midst of a presidential transition, often accompanied by change across many spectrums. Political campaigns are riddled with promises and assurances, yet what follows is always speculative at best.
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