Long Term Care University – Question of the Month – 02/15/19 By Aaron Skloff, AIF, CFA, MBA Q: We read the Long Term Care University article 1035 Tax-Free Exchange and are interested in Hybrid Combination Annuity and Long Term Care (LTC) Insurance policies. Can you review the Global Atlantic Forethought ForeCare Hybrid Combination Annuity and LTC policy? […]
Money Matters – Skloff Financial Group Question of the Month – February 1, 2019 By Aaron Skloff, AIF, CFA, MBA Q: Even though it is 2019, can we still contribute to Individual Retirement Accounts for 2018? How long do we have to contribute for 2018? A: The Problem — Foregoing Financial Planning and Tax Planning […]
Long Term Care University – Question of the Month – 01/15/19 By Aaron Skloff, AIF, CFA, MBA Q: We read the Long Term Care University article 1035 Tax-Free Exchange and are interested in Hybrid Combination Annuity and Long Term Care (LTC) Insurance policies. Can you review the OneAmerica State Life Annuity Care II Hybrid Combination Annuity and […]
Long Term Care University – Question of the Month – 01/15/19 By Aaron Skloff, AIF, CFA, MBA Q: Can long term care insurance be offered as a company benefit to all or a limited number of our employees? If so, are there any tax advantages for employers or employees? Are there tax advantages for individuals […]
Click to Enlarge Create a Jumbo Roth IRA with a Tax Free In-Service Withdrawal and Rollover If you are under the age of 50 you can contribute a combined $56,000 to your employer plan ($19,000 Roth plus $37,000 after tax). If you are 50 or over you can contribute $62,000 ($25,000 Roth plus $37,000 […]
Click to Enlarge Myth Versus Fact – Medicaid Home Exemption Myth: Under Medicaid, my home is “exempt”.there’s no cure for Alzheimer’s, there’s no need to plan. Fact: Eligibility criteria include a home equity limit, and, most stats recoup long-term care expenditures from beneficiary estates. Source: U.S. Department of Health and Human Services Click Here […]
Click to Enlarge Maximizing Contributions to Multiple Employer Retirement Plans Then Completing In-Service Withdrawals and Rollovers to Jumbo IRAs The IRS allows you to contribute to multiple employer retirement plans. The IRS places an $19,000 annual limit ($25,000 if age 50 or over) on employee contributions (elective deferrals) cumulatively across 401(k)s and 403(b)s and the […]
