Pension & Retirement Planning

We assist our clients in evaluating and determining their retirement goals. There are many tax advantaged retirement vehicles and we help each client determine which ones are best for them. We assist clients in evaluating Traditional vs. ROTH IRAs, 401K plans, Simple plans, SEP plans, defined contribution plans, defined benefit plans and cash balance plans. Based on each client’s current and projected tax bracket we analyze whether pre-tax or post-tax contributions are most advantageous. We also assist our clients with retirement distribution planning, based on their cash flow needs and tax objectives.

Our retirement services include:

  • Retirement planning
  • Education planning
  • Wealth transfers
  • Inheritance planning
  • Beneficiary accounting and tax

Distributions from traditional IRAs and employer-sponsored retirement plans are taxed as ordinary income and, if taken prior to reaching age 59½, may be subject to an additional 10% IRS tax penalty. A Roth IRA offers tax-free withdrawals on taxable contributions. To qualify for the tax-free and penalty-free withdrawal of earnings, a Roth IRA must be in place for at least five tax years, and the distribution must take place after age 59½ or due to death, disability, or a first time home purchase (up to a $10,000 lifetime maximum). Depending on state law, Roth IRA distributions may be subject to state taxes.

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