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Inherited IRAs for children
Inherited IRAs for children

Inherited IRAs for children

May 02, 2022 / The Merrill Anderson Company

One of the hot estate planning strategies earlier in this century was to name a minor child as the surviving beneficiary of an IRA. The child would have to take Required Minimum Distributions (RMDs) from the IRA every year…

Four Common Investment Misconceptions
Four Common Investment Misconceptions

Four Common Investment Misconceptions

April 20, 2022 / Warren Hurt

One of the biggest misconceptions I come across in the financial advice industry is that as you get older, you must reduce your allocation to stocks. While this philosophy might be grounded in some truth, it oversimplifies the reality.…

How Digital Banking Tools Can Help Your Business
How Digital Banking Tools Can Help Your Business

How Digital Banking Tools Can Help Your Business

April 11, 2022 / F&M Trust

Digital banking has come a long way in recent years, and now it can offer many ways for you to stay on top of your business needs.…

Saving for Retirement: IRA Changes for 2022
Saving for Retirement: IRA Changes for 2022

Saving for Retirement: IRA Changes for 2022

March 25, 2022 / The Merrill Anderson Company

In 2019, Congress revisited the rules for qualified retirement plans and IRAs, with an eye toward boosting retirement savings. To that end, the age limit of 70½ for making a contribution to a traditional, deductible IRA was eliminated. However, one still must have “earned” income to make any IRA contribution – income from investments, pensions, gifts, and Social Security benefits does not count. …

How small-business owners can offer retirement plans
How small-business owners can offer retirement plans

How small-business owners can offer retirement plans

February 22, 2022 / Chris Moore

As a small-business owner, you want to make a workplace retirement plan available to your employees. But you know you don’t have the time or technical background to handle 401(k) administration. So, what do you do?…

Five basic benefits of working with a financial planner
Five basic benefits of working with a financial planner

Five basic benefits of working with a financial planner

February 16, 2022 / The Merrill Anderson Company

Thanks to the Internet and YouTube, doing it yourself has taken on a new life. For example, a young person we know was able to diagnose a problem with his clothes dryer, then order the key part and install it, thus saving the cost of an in-home repair. Information that once might have been hard to find outside of specialized publications has become accessible to everyone. But there are limits to self-empowerment. One area in which some people may be overconfident is financial management. There is more to financial planning than setting some goals and pinching some pennies.…

An introduction to 401(k) plans
An introduction to 401(k) plans

An introduction to 401(k) plans

December 27, 2021 / F&M Trust

There are many ways to save for your retirement, and the time-tested 401(k) is one of the most popular. The retirement account, however, is still underutilized. A whopping 59% of employed Americans have access to a 401(k), and yet only 32% are investing in one.…

Tax Law Changes: A closer look at estate and gift taxes
Tax Law Changes: A closer look at estate and gift taxes

Tax Law Changes: A closer look at estate and gift taxes

October 12, 2021 / Erin Sunday

Part three of our four-part series on 2021 tax law changes is a topic that might not impact everyone, but if it does impact you, it’s important to understand what changes are in store. The topic at hand is proposed estate and gift taxes.…

Tax Law Changes: A closer look at individual taxes and what the changes mean for you
Tax Law Changes: A closer look at individual taxes and what the changes mean for you

Tax Law Changes: A closer look at individual taxes and what the changes mean for you

October 05, 2021 / Erin Sunday

A new presidential administration often means a variety of new tax law changes. In this four-part series, we’ll offer a closer look at some of the tax law changes being proposed by President Joe Biden and the House Ways and Means Committee. The series will include a review of the American Families Plan, estate and gift tax changes, corporate tax changes, and today’s post — individual tax changes.…

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