Posts by Mark Kutzke
Unsure When to Claim Social Security? Timing Has Its Benefits
For many Americans, social security benefits make up a significant portion of retirement income. When it comes to how much you will receive, you may be surprised to learn that you have a choice in the matter—and timing is everything. The longer you wait to claim your benefits, the larger your monthly payment will be,…
Read MoreA Crash Course in 529 Plans and Their Impact on Financial Aid
Are you worried about the rising cost of education? 529 plans can be powerful college savings tools when you understand how to take full advantage of them. Start with the Basics 529 plans are tax-advantaged college savings plans sponsored by a state or state agency, and there are two types: Qualified Expenses: · College/university cost of…
Read MoreTax Planning for Income
You don’t want to pay more in federal income tax than you have to. With that in mind, here are five things to consider when it comes to keeping more of your income. 1. Postpone your income to minimize your current income tax liability By deferring (postponing) income to a later year, you may be…
Read MoreRecord Keeping for Your Own Business
Keeping good business records will not only help you stay in business but may also help you increase profits. Your business records let you analyze where your business is and where it’s going. They point out potential trouble spots and serve as a guide to where you want your business to be. Your ideal office…
Read MoreConsiderations When Making Gifts to Children
If you make significant gifts to your children or someone else’s children (perhaps a grandchild, a nephew, or a niece), or if someone else makes gifts to your children, there are a number of things to consider. Nontaxable Gift Transfers There are a variety of ways to make transfers to children that are not treated…
Read MoreThe Auto-Features Advantage for Plan Participants and Sponsors
Workplace retirement plans play a major role in helping Americans reach their retirement goals. Access to a retirement plan, though, is really just a starting point. The next step is nudging employees to save, save, and save some more, particularly employees who may have scaled back how much they were saving due to the economic…
Read MoreDoes Your Credit Need Repairing?
Many people had their financial plans derailed in 2020. You or a spouse may have lost a job or been hit with unexpected expenses for medical care, assisting family members, or other reasons. Financial stress may have forced you to make tough choices, such as deciding which bills to pay, scaling back on your savings,…
Read MoreTo Keep or Not to Keep: A Guide to Common Records-Retention Questions
Living in an increasingly paperless world has its benefits, but when it comes to records retention, does it make a difference? Sure, digital recordkeeping on the cloud means more storage space, easy access, and less vulnerability to inadvertent destruction. But the questions of what to keep and for how long feel just as confusing as…
Read MoreTelemedicine offers benefits in the COVID-19 era and beyond
Mayo Clinic has enhanced its use of telemedicine during the coronavirus disease 2019 (COVID-19) outbreak to safeguard health care workers while optimizing patient care. Mayo’s positive experience provides a potential model for post-pandemic care. Read more on how Mayo Clinic is using telemedicine and how it will continue to be used after the pandemic: Telemedicine…
Read MoreUnderstanding the American Rescue Plan Act of 2021
On March 11, 2021, President Biden signed the American Rescue Plan Act of 2021 (“the Act”) into law, with large portions of the bill acting as an economic stimulus for individuals and businesses affected by the COVID-19 pandemic. At $1.9 trillion in total expenditures, the bill contains provisions pertaining to a variety of areas. This…
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