As we enter the final stretch of the 2024 presidential election, it’s clear that Social Security has once again become a focal point. Both political parties are taking swings at each other over a familiar issue: the health of the Social Security...
Kotys Wealth Professionals
5 Things to Know about New Inherited IRA Rules
Over the last 5 years, the landscape of retirement accounts has changed drastically with the December 2019 SECURE Act and the December 2022 SECURE 2.0 Act. Of all the things Congress cannot agree on, retirement planning is not one of them with both...
Social Security transitioning to new Credential Service Providers
A few days ago, I received a surprising email from Social Security, which I believe is the first email I’ve ever received from ssa.gov. In the email the Social Security administration announced it would be discontinuing access...
What is Basis?
A common question we’ll hear from clients when we present a retirement income plan is, “what are the taxes going to be?” While some components of that answer are very straightforward, when you consider all the components together the...
All About the Girls Part 9 celebrates belonging for women across NWI
The ninth annual All About the Girls event, hosted by GreatNews.Life, created by Jenny Craig-Brown, continued the trend of empowering and inspiring women of all ages. With a young team of dancers, seven uplifting women (all who’ve faced trials of...
Roth IRA Part 3: Mega Backdoor Roth
May’s blog rounds out part 3 of our 3-part series on building Roth dollars for high-income households. In the last two months, we discussed: What to do when your income crosses the Roth IRA contribution limit for the first time and how to avoid any...
Roth IRA – Part 2 Backdoor Case Study
This month’s blog is part 2 of a 3-part series on building Roth dollars for high-income households. Last month we looked at what happens to high income households (for 2024: >$230,000 Married, >$146,000 Single) when they can no longer make...
Roth IRA Income Limits & Fixing Excess Contributions
It’s normal for me to get a few texts from friends & family throughout tax season looking for help. Something I’ve seen more this year than others is people making excess Roth IRA contributions. This is generally a fantastic problem to have...
Common Charitable Giving Strategies
One of the most gratifying things about this profession is that our clients entrust us to help them achieve their financial, and often non-financial, goals. We work with many wonderful people who have big hearts. Many times, after finding peace of...
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