by Bryan Wisda, CFP® | Apr 6, 2023 | Relationship Management, Wealth Management
When wealthy individuals establish trusts they often appoint friends or family members to serve as trustees after they pass away. If you are a trustee you become responsible to oversee investment management, distributions, and trust administration. But these friends...
by Bryan Wisda, CFP® | Mar 12, 2023 | Advanced Planning, Tax Planning, Wealth Transfer
With the signing of the SECURE ACT 2.0, anybody over the age of 70 1/2 may fund a Charitable Remainder Trust with a QCD of up to $50,000. A QCD is short way of saying Qualified Charitable Distribution. A QCD allows people to donate up to $100,000 from their IRA each...
by Bryan Wisda, CFP® | Mar 1, 2023 | Advanced Planning, Financial Planning, Tax Planning
If you are still working in your 70s, there is way to avoid having to take required minimum distributions (RMD) from your IRA. Once you reach the magical age when you have to start taking required minimum distributions, currently 73 (going to age 75 in 2033), you are...
by Almega Wealth Management | Jan 14, 2023 | Press Releases
Almega Wealth Management is pleased to announce the formal addition of Scott Braddock. He will be working in our new Raleigh, North Carolina office. Bryan and Scott met in August 2021 and quickly formed a working relationship and friendship. Scott brings a deep...
by Bryan Wisda, CFP® | Nov 16, 2022 | Advanced Planning, Tax Planning, Wealth Management, Wealth Transfer
The IRS has announced the 2023 Gift & Estate Tax Limitations. Gift Tax: In 2023 an individual may give $17,000 to another person ($34,000 per couple) without needing to file a gift tax return. This is an increase of $1,000 from 2016. Estate Tax: The Estate Tax is...
by Bryan Wisda, CFP® | Oct 12, 2022 | Investment Management
Congratulations Professor Douglas Diamond on being awarded the 2022 Nobel Prize in Economic Science. Professor Diamond is a professor of finance at the University of Chicago. He is also an independent board member for Dimensional Fund Advisors (DFA). Professor Diamond...
by Bryan Wisda, CFP® | Sep 20, 2022 | Advanced Planning, Retirement Planning, Tax Planning
When it comes to IRA RMD Charitable Contributions there are a few rules that you must follow. If you fail to follow these rules you could potentially run into problems with the IRS. Officially this strategy is known as a Qualified Charitable Distribution or QCD. For...
by Bryan Wisda, CFP® | Sep 5, 2022 | Advanced Planning, Financial Planning, Retirement Planning, Tax Planning
Did you take money out of an IRA or 401k in 2020? If you did you may be eligible to get a tax refund by repaying those monies to your IRA, 401k, or other employer sponsored retirement plan. The CARES Act created an exemption to the tax due on withdraws up to $100,00...
by Bryan Wisda, CFP® | Aug 30, 2022 | Investment Management
Early in 2022, the Federal Reserve made statements of its intent to raise interest rates due to high inflation. This was not a subtle statement. It was an outright announcement. Rarely do financial advisors get to look into a crystal ball, this was one! By announcing...
