A qualified charitable distribution (QCD) is a nontaxable distribution made from a taxpayer’s individual retirement account (IRA) directly to a qualified charity. To qualify for this type of distribution, the taxpayer must be at least 70 ½ years old. The maximum amount that can be transferred from an IRA account to a qualified charity is […]
Several years ago, New York State enacted a law to make the Secure Choice Savings Plan (SCSP) mandatory for certain employers. Secure Choice is a retirement savings plan for private-sector employees who are not offered a retirement plan through their workplace, which will encourage more people to save for retirement. The law provides that an […]
Small steps can lead to big improvements in monetary habits. In this article we will share best practices regarding your finances that can be beneficial for both businesses and individuals. Pay Yourself First Financial advisors suggest that people should begin funding their retirement accounts as soon as they start working. The compounding effect will allow […]