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Monthly Archives: November 2020

Social Security Announces Cost of Living Adjustment for 2021 by Lee F. Hediger

Posted November 25, 2020

The Social Security Administration recently announced a 1.3 percent cost-of-living adjustment (COLA) to the benefits it will pay in 2021 to more than 70 million senior citizens and special needs children and adults eligible for Supplemental Security Income (SSI). This modest increase, down from a 1.4 percent adjustment for 2020, marks the second-lowest COLA ever […]

The Basics of Tax-Loss Harvesting by Todd Moll, CFP®, CFA

Posted November 19, 2020

While investors welcome market gains, they should not overlook the substantial tax liabilities their positive performing investments may incur when the time comes to sell. Under tax reform, investors are subject to capital gains tax as high as 37 percent, when they sell non-retirement investments, real estate or other appreciating assets. However, it is possible […]

401(k) Plan Sponsors Must Be Careful of Unintended Partial Plan Terminations By Olga Ismail

Posted November 11, 2020

Employee terminations and extended furloughs spurred by the COVID-19 health crisis are setting off a tsunami of partial 401(k) plan terminations that employers must be prepared to address, both administratively and financially. Failure to do so may jeopardize a plan’s tax- exempt status and expose the plan sponsors to substantial tax penalties and legal claims. […]

Charitable Giving Provides Greater Impact, Tax-Efficiency in 2020 by Eric P. Zeitlin

Posted November 3, 2020

Although few families give to charity solely for a tax break, it is not unreasonable to consider that charitable giving historically has played an important role in tax-efficient wealth and estate planning. Under the new tax laws, however, fewer families qualify to write off their charitable gifts unless they take the time to develop financially […]