Dear Friends,
As we work through the Russia - Ukraine developing situation and the conflicts in Israel, thoughtful planning and ongoing opportunistic adjustments will be more important than ever. Click HERE for a look back at quarter 4 of 2023 and our thoughts for the future.
The SECURE ACT and The CARES ACT: What's in it for ME?
Despite the contentious and partisan US political climate, congress passed NEW legislation in 2019 and in 2020 that will materially affect Retirement, Taxes, and College Savings now and for years to come.
There are several new tax provisions that may require a review of retirement and estate plans that incorporate Qualified (e.g. IRA, 401k, Profit Sharing, etc ) accounts. Click HERE for a short summary of the SECURE ACT. Click HERE for a short summary of the CARES ACT.
Feel free to contact us to have a conversation about any of the content above or to re-evaluate your overall goals and planning.
Thank-You again for your continued trust in our firm to help add clarity and confidence to your future.
Warmest Regards,
Anthony J. Marino, CLU ChFC FLMI
Marino Financial Advisors, (978) 649-2212
Newsletters
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New SAVE Repayment Plan Offers Key Benefits
In July 2023, the Department of Education launched a new income-driven repayment plan for federal student loans called the Saving on a Valuable Education Plan.
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SECURE 2.0: Big Impact for Small Businesses
This article discusses provisions in the SECURE 2.0 Act of 2022 that may be of particular interest to small business owners.
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Key Retirement and Tax Numbers for 2024
This article presents the IRS’ cost-of-living adjustments for 2024 that affect contribution limits for retirement plans and various tax deduction, exclusion, exemption, and threshold amounts.
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Child Care Is a Budget Buster: Take Advantage of These Tax Breaks
A tax credit and/or dependent-care flexible spending account might help offset some of the costs paid for a nanny, babysitter, day care, preschool, or day camp.
Calculators
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Home Affordability
Estimate of the maximum amount of financing you can expect to get when you begin house hunting.
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Car Affordability
How much can you afford to pay for a car?
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Cost of Retirement
Use this calculator to estimate how much income and savings you may need in retirement.
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Retirement Plan Early Distribution
Estimate how much would remain after paying income taxes and penalties if you took an early distribution from a retirement plan.