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Income Tax Spotlight: 7 Expenses You Can Claim in 2026
Every year, US citizens and residents are required to file a federal income tax return if they’ve earned more than the threshold. Income and expenses are reported to the IRS and can be filed electronically or by mail. The deadline for filing in 2026 is April 15, or…
A Look at the Importance of Diversifying Your Retirement Portfolio
When saving for retirement, the typical advice is to max out your 401(k) or individual retirement account (IRA) before anything else, but this is not always the best strategy. The problem comes with taxation in retirement. When you have only one type of retirement…
What Married Couples Need to Know about Trusts
While getting married is an exciting time, it can also prove stressful as couples combine their finances and define individual responsibilities related to them. This process can become particularly complicated if trusts are involved as part of an estate plan. Marriage…
An Overview of Lady Bird Deeds and Their Role in Estate Planning
An important estate planning tool to know about is a lady bird deed, also known as an enhanced life estate deed. This type of deed allows owners to pass down property without going through probate. Many people use a lady bird deed to maintain property within their…
Issues Inherent in Overspending Early in Retirement
People are living longer than ever before and this means that retirement nest eggs often have to stretch for more years than people planned. This can mean that people have less to spend in their early years of retirement than they thought. Unfortunately, spending…
The Best and Worst States for Retirement, According to Bankrate
While relocating for retirement is not the best decision for every person approaching that milestone, moving is something that individuals may want to consider as they come closer to retiring. A lot of factors need to be considered when thinking about where to retire,…
The Loper Bright Supreme Court Decision and Estate Planning
The recent Supreme Court case Loper Bright Enterprises v. Raimondo and its companion case Relentless v. Department of Commerce will have important ramifications for estate planning in general. The cases particularly address the tax ground rules that apply to…
Understanding Medicare: Insights from New Century Planning Inc.
Medicare, the cornerstone of healthcare for older Americans, has evolved significantly since its inception in 1965. In a detailed discussion with Peter Hegel, an expert in Medicare from New Century Planning Inc., several critical aspects of Medicare, including its…
Republicans Are Proposing an Increase in Retirement Eligibility Age – What You Need to Know
The Republican Study Committee, which consists of four-fifths of Republicans in the House of Representatives, recently called for a radical shift in retirement policy that would tie Social Security eligibility age to life expectancy. This proposal was a key component…