Street$marts

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Street$marts: Enhancing Your Charitable Giving–The Role of Donor Advised Funds and Qualified Charitable Distributions 

Today we’ll be discussing donor advised funds and qualified charitable distributions, which are two popular methods of charitable gifting. If you are one of the many individuals that donate to charity on a regular basis, you may find yourself wondering what your options are outside of the usual cash donation. Donor Advised Funds and Qualified Charitable Distributions are two methods of charitable giving that allow an individual to be strategic and thoughtful about how and when their donations are made.

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 Street$marts: What is an Index Fund? 

Indexing is a term that is thrown around a lot in the investment space. Admittedly, I forget that this is a finance term that not all investors fully grasp or understand. So, what is an index fund?

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Street$marts: What to Expect When Receiving an Inheritance

People I speak with have often thought a lot about leaving an inheritance. I encourage all my clients to check their beneficiaries, make an estate plan, and review and revise it, as necessary. However, it’s not as often that I have a conversation with someone planning to be on the other side of those estate plans. Although many of us may find ourselves as the beneficiary of an inheritance at some point in our lives, it’s less common to have a plan for that event.

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Street$marts: Clarification of the 10-Year Rule for Retirement Account Beneficiaries 

In July 2024, the IRS finalized regulations regarding required minimum distributions for inherited retirement accounts, providing crucial clarifications on the provisions established by the SECURE Act 2.0. This legislation significantly reshaped retirement savings laws, particularly concerning how distributions are managed for beneficiaries of retirement accounts inherited in 2020 or later, especially non-spousal ones. I’m Elizabeth Hutton, Vice President and Certified Financial Planner at Howe & Rusling. In today’s Street$marts we will tackle the implementation of the 10-Year Rule, which mandates that most non-spouse retirement account beneficiaries must fully deplete the inherited account within ten years of the original account holder’s death.

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Street$marts: 529 College Savings Plans–A Comprehensive Guide 

When it comes to saving for college, parents and guardians often search for tax-advantaged options that offer flexibility and growth potential. One of the most popular vehicles for this purpose is the 529 College Savings Plan. Introduced in 1996, 529 plans provide families with a tax-efficient way to invest money for education expenses. In this guide, we’ll dive deep into what 529 plans are, how they are taxed, key strategies to consider, how to change beneficiaries, and how withdrawals are taxed. Personally, I’m a fan of 529 plans. I have three New York 529 plans, one for each of my three boys.

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 A Guide to the 72(q)/72(t) Distribution Method 

In this episode of StreetSmarts, Dylan Potter, Vice President and Wealth Manager at Howe & Rusling, delves into the intricacies of Section 72(q)/72(t) of the tax code, which provides a distribution method that will allow you the flexibility to draw on retirement accounts, penalty-free, before the age of 59 ½.

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Navigating the Roth Conversion Window

In this episode of StreetSmarts, Elizabeth Hutton, Vice President and Financial Planner at Howe & Rusling, delves into the intricacies of Roth Conversions. Discover how high earners can navigate Roth IRA contribution limits, and explore the strategic “Roth Conversion Window” between retirement and required minimum distributions. She will guide you through the criteria for optimal candidates, shed light on critical considerations, and unveil the strategic benefits, from mitigating future tax risks to enhancing estate planning.

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