To Roth or Not to Roth?

Many earners are in the smart retirement savings habit of making pre-tax contributions to company or individual retirement plans, such as a 401(k), 403(b) or SEP IRA.  Strong incentives include a tax deduction for the contribution and often some form of employer match or contribution.   Accumulated contributions are then invested, usually in stocks and bonds, […]

Good News for Philanthropic IRA owners

If you’re over age 70 1/2 and are looking to reduce your taxes while making charitable contributions, you should consider taking advantage of a Qualified Charitable Donation (QCD) from your Individual Retirement Account (IRA) this year. The IRS ruled that charitable donations after age 70 1/2 made from your IRA accounts will be exempt from […]

Willow Creek Commentary: Winter-2017

NEW TAX CUTS AND JOBS ACT The much-touted new tax legislation became law just before the end of last year. The banner headline is a significant reduction in corporate tax rates, however, most of us are wondering how it will affect the “ordinary” taxpayer. One of the stated goals of the Tax Cuts and Jobs […]

Willow Creek Commentary: Summer-2017

HEALTH SAVINGS ACCOUNT FOR RETIREMENT Many people don’t realize that a health savings account, or HSA, can be a powerful retirement savings vehicle. The reason is, from a tax perspective, the HSA is unique in that it offers a triple tax benefit: 1. The money you contribute reduces your taxable income 2. Money within an […]

Harvest Time for Tax Savings

As the end of 2015 approaches, a window is still available for tax savings. Here are a few ideas to help reduce your tax bite. TAX LOSS HARVESTING A popular strategy called tax-loss harvesting should be considered.  The stock market has been rough this year, with  various investment asset classes showing negative returns. If you […]