As healthcare improves over time, the median age of adults in the U.S. also rises. While this is certainly a net positive for adults and their families, it also means that individuals have more planning to do regarding their elder years. Today, our blog reviews some important topics regarding senior…
McCulloch & Miller, PLLC is thrilled to officially announce that we are a part of the UpCity community of top B2B service providers! At McCulloch & Miller, we help guide small business owners and investors through planning strategies such as asset protection, tax consequences, and viable retirement planning. Every investor…
An IRA is one of the most popular ways to save for retirement. The possibility, however small, does exist that you will pass before using the entire IRA. How do you decide who to leave your IRA to? In addition to leaving assets, including IRAs and 401(k)s, to heirs, you…
You’d think no one would want to turn down free money. Yet that’s exactly what many working Americans do! One out of five Americans—20%—don’t take advantage of a terrific benefit: employee sponsored retirement savings accounts that include an employer match of some and sometimes all the employee’s contributions. Most workers…
A large percentage of Americans require assisted living care at some point during their senior years. Their understanding of how that gets paid for is way off base. It’s a hard lesson to learn. Approximately one-third of Americans (34%) thought that Medicare would cover their nursing home costs, as reported…
New regulations from the Department of Labor may come into play for Americans deciding which type of account is best for their retirement savings. There are significant differences between 401(k)s and IRAs, and as reported in a recent post on wjbf.com, “Advantages and disadvantages to a 401k and an IRA,”…
Blending a family is not an easy task, but doing so successfully can create a new and strong family unit. Among the challenges are how to blend finances. Blended families are no longer limited to television sitcoms. The Pew Research Center reports that 41% of all Americans have at least…
With many tech companies, universities and businesses, North Carolina has become home to many resident aliens who contribute greatly to the state’s growth. Estate planning requires special knowledge of non-citizen tax rules. More than $1 billion in annual foreign direct investment gives North Carolina’s private sector employment a huge boost,…
If you are working after 70 ½, there are still ways to save money tax-free. Wage earners are not permitted to put money into a traditional IRA in the year they turn 70 ½ according to the Kiplinger article, “Tax-Smart Ways to Save When You're Too Old for a Traditional…
If you are old enough to drive, work a job and have a bank account, you need to have an estate plan. It’s part of being a responsible adult. Leaving adolescence behind means a life that includes responsibility for yourself and for those you love. That has traditionally included basics…