Timothy Sumer

The pandemic threw many Americans and businesses for a loop, and many people struggled to stay on top of their bills and business expenses. The number of active business owners plummeted by three million from February to April 2020. To provide people with additional financial options, the federal government approved the CARES Act, which included the CARES Act 401(k) withdrawal option. If you’ve heard about this withdrawal option and you want to learn more about it and how you can use it, continue reading below. This brief CARES Act guide will cover all you need to know about the 401(k) withdrawal option and who you can contact for more information.... ( read more ) LEARN MORE ABOUT: 401k Plans REVEALED: Best Investment During Inflation HOW TO INVEST IN GOLD: Gold IRA Investing HOW TO INVEST IN SILVER: Silver IRA Investing The Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law on March 27, 2020, to provide relief to Americans

This is a special "mailbag" edition of Taxes in Retirement LIVE! where group members ask Andy all sorts of retirement planning questions. Questions addressed (and time stamps at which point in the video the question starts) in tonight's video are: 3:32 – Can you explain the Social Security Windfall Elimination Provision (“WEP”) 14:34 – Do I need to refile or amend prior year tax return to claim my deceased parents’ unclaimed property? 16:20 – If you make a large Roth conversion, do estimated federal and state taxes need to be paid in that quarter to avoid underpayment penalties? 20:08 – My defined benefit pension will increase by 0.5% per month for each month I delay it past age 65. Should I delay it? Or maybe start it early (with 0.5% per month reduction)? 27:10 – When is interest from a Home Equity Line of Credit (“HELOC”) deductible? 30:07 – If I have a Roth 401(k) and a Health Savings Account (“HSA”), will I have different “gross” and “taxable” wages

In this episode Dr. Dahle discusses tax credits, foreign tax credits, insurance tax code changes and how a 7702 is not something we are excited about at WCI. We talk about Roth conversions during retirement and a host of other topics. We also have a husband and wife doctor duo on the podcast. They are guests we have had before and the creators of the online course Zero to Freedom that will teach you all about cash flowing real estate properties. See full show notes here: SoFi has exclusive rates and offers for medical professionals, which could help you save thousands by refinancing your student loans. If you're still in residency, SoFi offers a lowered interest rate and the ability to reduce your payment to just $100 per month while in school. If you're out of residency, SoFi's great rates could help you save money and get on the road to financial freedom. Check out their payment plans and interest rates at SoFi student loans are originated by SoFi Bank, N.A.