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Death and Taxes - Why Estate Planning is Important

As Ben Franklin wrote, "But in this world nothing can be said to be certain, except death and taxes." While we are in the midst of tax season, I would like to talk about death today.  It is not a pleasant topic and I know many who would just like to avoid the discussion. However, as a financial planner, I must often bring this topic up.  Where do you stand with estate planning? Do you have documents prepared? Have you looked at the documents recently?
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How much money can I put into my IRA or employer-sponsored retirement plan?

How much money can I put into my IRA or employer-sponsored retirement plan? IRAs and employer-sponsored retirement plans are subject to annual contribution limits set by the federal government. The limits are adjusted periodically to compensate for inflation and increases in the cost of living. IRAs For tax year 2020, you can contribute up to $6,000 to all IRAs combined (the limit is adjusted annually for inflation) which is unchanged from 2019. If you have a traditional IRA as well
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