5 Strategies to Reduce RMDs

5 Strategies to Reduce RMDs

Nothing lasts forever. This includes tax deferral on your IRAs. Eventually, Uncle Sam is going to want his share and will require funds to come out of these accounts. That is when required minimum distributions (RMDs) must begin. What if you don’t need the money? What if you don’t want a tax hit? Here are […]

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Is there More to the Record Stock Markets?

Here we are, summer in full swing. On the economic front, we had a pretty light calendar in the month of June. We did see some positive things happen. If you just looked at the headlines you would think, “Wow the markets are just off to the races, it’s record, after record, after record.” In […]

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How is Social Security Taxed?

How is Social Security Taxed?

A common question we receive at Barber Financial Group is “How will my Social Security be taxed?” When Social Security was originally formed it was intended to be a tax-free source of income. However, during the Reagan Administration the laws were changed so that if a married couple filing a joint tax return had over […]

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How do I get more Social Security?

How do I get more Social Security?

Social Security is a very complex system. Social Security was originally formed to allow older workers to exit the workforce without the risk of running out of money in retirement, while allowing room for younger workers to come into the workforce. When Social Security was originally formed the average life expectancy was 62 years old. […]

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What is Probate?

What is Probate?

Probate is the process of collecting your assets, paying your debts and taxes, and transferring the property owned by you, at your death, to your heirs.  If you do not have a will before you die (intestate) the probate court will decide the disposition of your assets for your heirs. If you have a will […]

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Markets Counting on Trump Tax & Economic Plans

Not a lot really happened in the month of April, except for the fact that we had some really good corporate earnings out. We had a confirmation that first quarter GDP was subpar at best, however, better than last years zero rate. We have Congress in gridlock over Trump proposals for the tax plan. I […]

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