Sometimes It’s Illegal to Spend Your Own Money!

by | Nov 5, 2024 | article

Hector asked me if it would be possible to make an early withdrawal from his retirement plan. He’s a small consultant and though he does well overall, his income tends to “roller-coaster” as he works on one project and then sets up a new one. “I’ve been saving for...

ERISA After 50!

by | Oct 1, 2024 | article

At my last SHRM chapter meeting, I found myself engaged in conversation with several HR managers who were responsible for managing their companies’ retirement plans. I was surprised to discover that none of the professionals at my table were aware of how dramatically...

Inheriting an IRA: Navigate the Tax Maze

by | Sep 3, 2024 | article

A client booked a meeting with me last week to discuss a question about an inherited IRA. Our conversation shed light on how to avoid potential pitfalls and make the most of the inheritance. “I just inherited my great aunt Harriet’s IRA. Free money is good but how do...

I Put My Spouse on Payroll. Now What?

by | Aug 6, 2024 | article

Like many business owners, Jack put his spouse on the payroll during COVID—and she’s still there. “It started as an emergency measure,” he explained, “but I don’t think I could have grown the business this way without her. But we’re on the same payroll. How does this...