Required minimum distributions (RMDs) from retirement accounts were suspended in 2020, as part of the federal government’s effort to keep the economy afloat despite medical and financial turmoil. Now they’re back, so most people who are 72 or older in 2021 will have to take at least as much as IRS tables dictate from their retirement accounts this year, and pay the resulting tax. Many IRA owners delay RMDs until yearend, but there are good reasons to act sooner rather than later.

Moreover, legislation passed in 2020 allows tax deductions up to 100% of adjusted gross income (AGI) for cash contributions, this year only. Normally, such deductions are capped at 60% of AGI.

Traditional retirement planning is less effective when spouses stop working at different ages. Here are a few things to take into account as you prepare for this next chapter.

The global pandemic has changed the way we interact with others - including your financial advisor. Should you consider working with a virtual advisor full time, or are you better off searching for someone local?

Californians may experience the country's first-ever wealth tax. Here's what you need to know right away about this proposed bill.

The 2020 presidential election results could have a profound impact on your estate and gift tax obligations moving forward. Here's what you need to know at year-end and beyond.