Author Archives: Melanie Bolster

The passage of the One Big, Beautiful Bill Act (OBBBA) on July 4, 2025, provides a reprieve to net-worth families who faced the prospect of losing many taxpayer-friendly provisions of the tax code that were set to expire at the end of this year. However, maximizing the potential benefits of the new law requires strategic […]

Physicians and other healthcare providers recognize the inherent risks of their profession, including legal and financial exposure to claims of medical malpractice. However, this professional liability is merely the tip of the iceberg when considering the complex legal landscape that all professionals must navigate when operating a business, employing staff, owning property, and even driving […]

Individual retirement accounts (IRAs) and 401(k)s serve an important purpose in estate planning, helping individuals save during their prime earning years to provide a financially secure retirement in the future. Contributions to these plans today reduce your taxable income in the year of contribution and grow tax-deferred until you take distributions in retirement. However, with […]

High-income earners who max out their 401(k) with pre-tax dollars each year may have additional opportunities to supersize their retirement savings with after-tax contributions that can be withdrawn tax-free in the future, depending on their employer’s plan documents. Annual Pre-Tax Contribution Limits to Employer-Sponsored 401(k) Plans Each year, the IRS sets the maximum amount that […]

According to the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN), financial abuse of Americans aged 60 and older continues to grow at an alarming rate, with total losses exceeding $28 billion. While it is common for the perpetrators of these scams and thefts to be unknown to the victims, they are too […]

Investors with remaining balances in 529 college-savings plans may roll unused balances into tax-free Roth IRAs for the benefit of named beneficiaries without risk of penalties or income-tax exposure. This provides young people with an opportunity to start saving for their future via an investment vehicle that offers tax-free growth and tax-free withdrawals in retirement. […]

Many of the provisions contained in the current tax law are set to expire on Dec. 31, 2025, signaling an immediate need for individuals to assess their existing estate plans to maintain long-term tax efficiency. Whether or not the current administration extends these laws, engaging in planning now can help reduce risks of potentially higher […]

Peer-to-peer mobile payment processing apps, such as Cash App, PayPal and Venmo, have made it easy for people to send and receive money with the click of a button. However, whether you are a business accepting these forms of payments or a consumer paying for products and services or splitting a shared expense with a […]

If you are turning 60 to 63 years of age in 2025 or later, you have a unique opportunity to supercharge your retirement savings with new, more substantial catch-up contributions. Background Historically, the tax laws cap the annual contribution limits to 401(k), 403(b) and other qualified retirement plans. They also provide additional means for individuals […]

You have many options when it comes to saving for retirement. You may contribute pre-tax dollars to a workplace 401(k) plan or traditional IRA, potentially reducing your current taxable income today and deferring taxes until you make required minimum withdrawals in retirement. Depending on your income, you may also put money into a Roth IRA, […]