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As we move towards April 15^th’s tax filing deadline, I wanted to spend a few blogs on explaining some of the more popular tax credits that may be available to you.  Up first, the American Opportunity Tax Credit (AOTC).  The AOTC is a credit for qualified education expenses paid for an eligible student during their first four years of higher education.  The credit is calculated by factoring

Can You Do It?

As 2020 comes at us quickly, here are a couple year-end tax tips you will want to review before the ball drops!

One of the requirements the IRS has in place for contributing to an IRA is that the person has to have earned income that is equal to or higher than the amount they are contributing.  What this requirement did not address were those households with only one working spouse.  Thus, the Spousal IRA was born.

I get asked a lot about what type of clients I work with, and what I do to help them.  In this case study, I talk about a client I worked with who was preparing for a military deployment.  This client hired me on an hourly basis to help them prepare financially for the deployment and maximize the benefits available to them during the deployment.  You can read the first case study in this series h

Saving for retirement can sometimes be confusing, today we are going to look at a common question I hear, can I contribute to an employer plan (TSP, 401k, 403B, etc.) and an IRA?

Short Answer

I get asked a lot about what type of clients I work with, and what I do to help them.  This will be the first of several case studies where I talk about a client situation and what we did together to help them live their ideal financial life.  This particular client hired me on an on-going basis.

Understanding Required Minimum Distributions for your Thrift Savings Plan (TSP) can get a little complicated when the account is your own, and when it is an inherited TSP account, it can be even more complex.  Understanding when you have to start and how much you have to take can depend on a couple of factors, which I am going to explain here.

Hopefully, if you are eligible for the TSP, you are taking advantage of all the benefits available to you.  Low fees, professionally managed funds, and new withdrawal rules aimed at giving you flexibility when taking your money out of your account are three main benefits to the TSP.  When contributing, you also need to be aware of the options available to you to maximize the tax efficiency and amount you are contributing.  Take a few minutes today to get to kno

What is your gameplan for "winning" the retirement savings game?  Contact us today for a free consultation on where you are at and what we can do to help you get to where you want to be.

John Cooney

508-217-6937

john@greenandgoldfinancial.com