Resources

The New 2025 Tax Changes: Summary Guide

This guide compares pre- and post-OBBB tax rules effective in 2025, highlighting updates to standard and itemized deductions, child credits, premium tax credits, and retirement provisions. It helps individuals and families understand how upcoming law changes may affect deductions, credits, and overall tax liability.

Should I Take My Pension as a Lump Sum?

This decision guide helps evaluate whether a lump-sum payout or lifetime income stream is better for your situation. It explores key factors such as health, plan security, legacy goals, and other retirement income sources, offering practical direction for making an informed pension choice.

Am I Eligible for Social Security Benefits as a Spouse?

This flowchart outlines the rules for claiming Social Security spousal benefits. It walks through requirements such as marriage length, age, prior marriages, caring for a child, and your spouse’s eligibility, helping you determine if you can receive benefits under your spouse’s record.

What Issues Should I Consider With My Social Security Retirement Benefits?

This checklist highlights key factors to review before and after filing for Social Security retirement benefits. It covers timing, spousal strategies, taxation, work considerations, and coordination with other income sources, helping you make the most of your benefits and avoid common pitfalls.

Will My Social Security Benefits Be Reduced?

This flowchart explains how your Social Security benefits may be reduced based on your age, work status, and income. It covers early filing penalties, earnings limits, taxation thresholds, and strategies for delaying benefits, helping you anticipate reductions and plan more effectively for retirement income.

Can I Make a Backdoor Roth IRA Contribution?

This flowchart explains when and how you can use a Backdoor Roth IRA strategy. It reviews income limits, existing IRA balances, and employer plan options, while outlining the steps to contribute, convert, and avoid unnecessary taxes under the pro rata and aggregation rules.

Can I Make a Mega Backdoor Roth Contribution?

This flowchart explains the rules for making a Mega Backdoor Roth contribution through your employer’s 401(k) plan. It reviews income limits, plan provisions, after-tax contributions, rollovers, and conversion strategies, helping you maximize Roth savings while understanding tax implications.

How Must I Take Distributions From the Roth IRA I Inherited?

This flowchart outlines distribution rules for inherited Roth IRAs. It explains options for spouses, non-spouse beneficiaries, minors, and disabled heirs, including the 10-Year Rule, life expectancy RMDs, and special exceptions, helping you determine how and when funds must be withdrawn.

How Must I Take Distributions From the Traditional IRA I Inherited?

This flowchart guides beneficiaries of Traditional IRAs through required distribution rules. It explains how the 10-Year Rule, life expectancy RMDs, spousal options, and exceptions for minors or disabled beneficiaries apply, helping you understand when and how withdrawals must be made.

Should I Consider Doing a Roth Conversion?

This flowchart helps you evaluate whether a Roth conversion makes sense for your situation. It addresses tax rates, income-based program eligibility, timing of withdrawals, and beneficiary considerations, giving you a clear framework to decide if converting now provides long-term tax and estate benefits.

Should I Contribute to My Roth IRA vs. My Traditional IRA?

This flowchart compares Roth and Traditional IRA contributions. It helps you decide based on tax brackets, deduction eligibility, income needs, and long-term goals, showing when each option may provide greater tax advantages and flexibility in retirement.

Should I Inherit My Deceased Spouse’s Traditional IRA?

This flowchart explains the options available when inheriting a deceased spouse’s Traditional IRA. It outlines choices such as rolling the IRA into your own, keeping it as an inherited IRA, or electing treatment under SECURE Act 2.0, highlighting the impact on RMD timing, penalties, and income needs.

What Issues Should I Consider When Inheriting a Traditional or Roth IRA?

This checklist outlines key issues to review when inheriting a Traditional or Roth IRA. It covers distribution requirements, beneficiary rules, tax considerations, trusts, and coordination with other goals, ensuring you understand how inheritance affects RMDs, taxes, and long-term planning.

Will My Roth IRA Conversion Be Penalty-Free?

This flowchart explains when a Roth IRA conversion avoids penalties. It reviews rules for traditional and SIMPLE IRAs, RMDs, pro rata calculations, five-year holding requirements, and Medicare/insurance impacts, helping you determine if your conversion will be taxed but penalty-free.