The Wiser Wealth Blog
How do I avoid the 10-year rule for an inherited IRA?
In recent years, the distribution rules have changed for non-spouses who inherit retirement accounts. Previously, non-spouses could start taking distributions the year after the decedent passed, but could take them [...]
Saving for College: UTMA Accounts vs 529 Plans
When it comes to saving for college, there are different vehicles to use. Let’s compare UTMAs (Uniform Transfers to Minor Accounts) and 529 plans to see the best option. UTMAs [...]
Is there a downside to paying off a mortgage early?
Paying off a mortgage early is often seen as a financial milestone, a symbol of freedom from debt, and a significant reduction in monthly expenses. While the advantages of owning [...]
Why 2024 Offers the Best Wealth Transferring Environment
The financial landscape in 2024 presents unique opportunities for wealth transfer that savvy individuals and families should consider. Several factors converge this year, creating an ideal environment for transferring wealth [...]
Tax Savings Strategies for High Income Earners
As a CPA and Financial Advisor, I often receive inquiries on tax strategies to reduce taxable income. Being in a high tax bracket with your earnings is great, but not [...]
How to Align Charitable Giving with Financial Goals
Charitable giving is wonderful if it is not detrimental to your own financial goals. Don’t let your benevolent heart lead you into the poor house. Follow these tips to align [...]
Ways to Build a Legacy with Your Kids
Did you immediately think of money when you read the title? Or did your mind wander to your collection of state quarters or Star Wars figurines stored pristinely in boxes? [...]
How Does a Step-Up in Basis Work?
The step-up in basis is a powerful tool that can help manage the tax implications of inherited assets. By understanding and utilizing this provision, heirs can significantly reduce their tax [...]
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