Importance of Personal Tax Planning Throughout the Year

As we continue through another year, I wanted to highlight the significant benefits of engaging in proactive personal tax planning. Whether you're a freelancer, business owner, or employee, effective tax planning can make a substantial difference in optimizing your financial situation and ensuring compliance with tax obligations.  We, at Merlak Tax, recognize this and encourage [...]

2024-08-06T10:30:41-07:00August 6th, 2024|financial, life insurance, retirement, Social Security, Tax|Comments Off on Importance of Personal Tax Planning Throughout the Year

Inflation Reduction Act and Medicare

As shared by Antonio Lugo: New laws are here! The new Inflation Reduction Act is a big enchilada of green energy spending, corporate taxes, and some pretty major changes to Medicare. Is this deal a big deal? Could be. I'll wrap it up for you at the end. First, here are some Medicare changes you [...]

2022-10-13T11:10:16-07:00October 13th, 2022|retirement|Comments Off on Inflation Reduction Act and Medicare

Women and Divorce

Divorce can be a very emotional time.  It is important to not ignore the impacts on you financially. Divorce can devastate your retirement plan but you need to be proactive and take action. Here is a good article from MSN that can provide helpful information and tips. Remember, I am her for you or someone [...]

2021-12-10T14:03:54-07:00December 10th, 2021|financial, financial news, retirement|Comments Off on Women and Divorce

In Depth Tax Analysis

People are asking what can I expect from an in depth tax analysis strategy session. Well, you first will see what tax bracket you are in and where the next cut off is so you can plan for filling that tax bracket.  You next will find out what deductions and credits you qualify for plus [...]

2021-11-10T07:54:27-07:00October 25th, 2021|retirement, Social Security, Tax|Comments Off on In Depth Tax Analysis

How to Save Money with Lake in the Hills Retirement Tax Strategies

Pay Fewer Taxes in Retirement with These Lake in the Hills Retirement Tax Strategies We all want to enjoy our retirement, but how do you get the most joy out of it? Many retirees think it’s as simple as saving up enough money to live comfortably. And while saving enough is part of it, people [...]

2021-07-20T07:57:20-07:00July 19th, 2021|retirement|Comments Off on How to Save Money with Lake in the Hills Retirement Tax Strategies

Third Quarter Market Outlook

Mark DiOrio, CFA, Chief Investment Officer at Brookstone Capital Management, shares his 3rd quarter market outlook on this quick zoom presentation. CLICK HERE   Investment advisory services offered through Brookstone Capital Management, LLC (BCM), a registered investment advisor. BCM and Carla Merlak/Merlak Tax Advisory Group, Inc. are independent of each other. Insurance products and services [...]

2020-08-06T12:15:35-07:00August 6th, 2020|financial, retirement|Comments Off on Third Quarter Market Outlook

SECURE Act changes Retirement Plan rules January 1, 2020

The SECURE Act is now in place - With Senate's passing and President Trump's signing, certain key law changes MAY IMPACT YOU RETIREMENT starting January 1, 2020. SECURE is an acronym for Setting Every Community Up For Retirement Enhancement.  This is the biggest change to retirement legislation in 13 years.  Those nearing retirement or in [...]

2020-01-07T10:52:28-07:00January 7th, 2020|financial, retirement, Tax|Comments Off on SECURE Act changes Retirement Plan rules January 1, 2020

Where will you live after you retire?

This is an important question when planning your retirement.  It may make sense to act sooner than later. Find out why.  Read this article from CNBC. Investment advisory services offered through Brookstone Capital Management, LLC (BCM), a registered investment advisor. BCM and Carla Merlak/Merlak Tax Advisory Group, Inc. are independent of each other. Insurance products [...]

2019-11-06T17:13:00-07:00November 6th, 2019|retirement|Comments Off on Where will you live after you retire?

Why reviewing your Medicare Coverage is even more important for 2020

Tuesday, October 15, 2019, began the “Annual Enrollment Period” (AEP) for 2020.   There are many changes for the health and drug plans in 2020 so you will need to be a little more involved in your decision-making process:   Medigap/Medicare Supplemental policy plan “F” will be phased out starting January 1, 2020. For those [...]

2019-11-04T12:34:08-07:00November 4th, 2019|retirement|Comments Off on Why reviewing your Medicare Coverage is even more important for 2020

Thrift Savings Plan Updates

New withdrawal options now available — (September 15, 2019) We’re pleased to announce that all participants now have more options when seeking to withdraw retirement savings from their TSP accounts.* Recent changes improve withdrawal options for TSP participants as discussed in this notice: TSP changes         *https://www.tsp.gov/whatsnew/Content/index.html#newoptions Investment advisory services offered through [...]

2019-09-18T10:30:56-07:00September 18th, 2019|financial, retirement|Comments Off on Thrift Savings Plan Updates

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