Math Errors, Fixed Income Strategies, and more

Meet Our Firm

Tim LaFalam, Senior Manager

Tim is a Senior Manager with the Firm. Tim has experience working from both planning and compliance perspectives with individuals, estates, trusts, corporations, and partnerships – in states across the United States. With a focus on effective client communication, he has built solid and trusting relationships with countless clients. [more]

Seniors Who Listen to Music May Slash Their Dementia Risk by Over a Third

Older people who listen to music often slash their risk of dementia by more than a third, according to a new study. The researchers studied people over the age of 70 and found that listening to music—or playing an instrument—is linked to a reduction of up to 39% in the chances of developing the debilitating condition. [more]

People without kids should make this money move before it's too late, estate planning expert says

If you don't have children and don't plan on having any, many of the "default" settings of personal finance may not apply to you. You may not, for instance, plan on leaving legacy wealth, as many parents do, and you certainly don't have to worry about paying for a kid's wedding or college education. But who will take care of you or make decisions on your behalf in the event that you can't make them for yourself? For many Americans, the default answer is, "my kids." [more]

Congress passes bill requiring IRS to clarify math error notices

The U.S. Senate on Monday passed the Internal Revenue Service Math and Taxpayer Help Act, H.R. 998, which, among other changes, requires the IRS to provide taxpayers with details on notices related to a math or clerical error. Other changes in the bill include that the IRS send a notice related to an abatement of taxes assessed due to a math or clerical error; provide procedures for requesting such an abatement; and implement a pilot program for sending notices of a math... [more]

Fixed Income Strategies These inherited IRA mistakes could reduce your windfall, advisors say. How to avoid them

While many investors welcome a windfall, the rules for inherited individual retirement accounts are complicated — and mistakes can be costly. Since 2020, certain inherited accounts are subject to the “10-year rule,” and heirs must empty the balance by the 10th year after the original account owner’s death. Plus, some non-spouse beneficiaries, commonly adult children, must begin taking required minimum distributions, or RMDs, in 2025 over the 10-year period, or face a hefty IRS penalty. [more]

Eight Biggest Financial Planning Myths: How Many Do You Believe?

"You need money to create a financial plan. Social Security is going bankrupt! You should always follow the 4% rule when saving for retirement." These and other common financial planning myths are widely held, but they don’t always stand up to scrutiny. Sure, the 4% rule may work for some people, but it’s not the only option. Yes, Social Security is struggling, but it's not bankrupt. It’s easy to get caught up in retirement financial planning myths, but doing so can be costly if it affects how you save, invest, and plan for the future. [more]

Mastering IRAs: Beyond the Basics with Kelly Braese

Individual Retirement Accounts (IRAs) are among the most powerful yet frequently misunderstood financial tools available to American investors. As a tax professional, I often see clients overlook the full potential of IRAs—not just as retirement savings vehicles, but as strategic instruments for long-term wealth building and tax optimization. One of the key advantages of IRAs is the flexibility and control they offer compared to employer-sponsored plans like 401(k)s. While 401(k)s are tied to your employer and often come with limited investment options, IRAs remain with you regardless of job changes and allow for a much broader range of investment choices. [more]

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