by Bryan Wisda, CFP® | Dec 24, 2024 | Advanced Planning, Financial Planning, Tax Planning
A common mistake many people make with Roth IRA conversions prior to age 60 occurs when they withhold taxes to pay for the conversion. At Almega Wealth Management, we recommend NOT withholding taxes from the conversion and instead paying the taxes with cash on hand....
by Bryan Wisda, CFP® | Dec 2, 2024 | Advanced Planning, Financial Planning, Retirement Planning, Tax Planning
As the retirement planning landscape continues to evolve, 2025 will introduce a groundbreaking opportunity for individuals aged 60, 61, 62, and 63: the new $11,250 super catch-up contribution for your 401(k). This provision, a game-changer for retirement savers,...
by Bryan Wisda, CFP® | May 27, 2024 | Advanced Planning, Financial Planning
Important Deadline: June 30th for FFEL Loan Holders Understanding the IDR Account Adjustment FFEL Student Loan Forgiveness Deadline 2024: The IDR account adjustment presents a significant opportunity for borrowers seeking credit toward Public Service Loan Forgiveness...
by Almega Wealth Management | Oct 1, 2023 | Advanced Planning, Financial Planning, Tax Planning
529 plans have long been recognized as a valuable tool for saving for higher education expenses. However, there is a lot more to these tax-favored accounts than meets the eye. In this comprehensive guide, we delve into the advanced 529 planning strategies and...
by Bryan Wisda, CFP® | Sep 26, 2023 | Advanced Planning, Financial Planning, Retirement Planning, Wealth Management, Wealth Transfer
Oh, the joys of federal ERISA law! Let’s dive deep, shall we? First and foremost, for those caught up in the world of ERISA-covered plans (pension plans and 401(k) type plans, including 403(B), 457, 412(i), and other employer-sponsored retirement plans),...
by Bryan Wisda, CFP® | Sep 13, 2023 | Advanced Planning, Financial Planning, Retirement Planning, Tax Planning
The intricacies of retirement planning and wealth management often introduce several provisions and rules that many may find complex. One such provision is the ‘Rule of 55,’ a rule that pertains to early withdrawals from one’s 401(k) account. This...
