Posted on November 4, 2022

Understanding the Increase in Limits for the Coming Year The IRS has announced that the amount individuals can contribute to their 401(k) plans in 2023 has increased to $22,500, up from $20,500 for 2022. This also applies to 403(b), most 457 plans, and the federal government’s Thrift Savings Plan. Also increasing is the catch-up contribution limit… read more

Posted on November 3, 2022

Before you can create an estate plan, you need to answer the following questions: What makes up my estate? Your estate consists of all the assets you possess at the time of your death, including: Securities Real estate Interest in a business Personal property Cash Retirement plans and IRAs Life insurance death benefits What’s the… read more

Posted on November 2, 2022

Probating a will can turn into a drawn-out process, and unfortunately, you can’t always avoid multiple probate processes. When a person dies and leaves property in one state to someone in a different state, it is typically necessary to obtain probate for each jurisdiction. On the other hand, if you plan ahead and take care… read more

Posted on November 1, 2022

There’s nothing like taking a day out of the office to focus on how to best serve our clients. Our team recently gathered for a full-day office retreat, let by renown facilitator Glenn Finch from Atticus, a national law firm coaching organization. The day included a dynamic exchange of ideas and a deep dive into… read more

Posted on October 5, 2022

A chamade was a Napoleonic drumroll that signaled to the enemy that an army was ready to surrender or retreat. Modern equities investors follow their own market signals for capitulation, which describes the final gasp during the stampede to the exits when the pain of a bear market has become unbearable. Also called a washout,… read more

Posted on October 4, 2022

Deductible levies for itemizers include their payments for income taxes, sales taxes, real estate taxes, and personal property taxes. But those write-offs come with strings attached as to which ones qualify, when they’re deductible, and how much is allowable. You should be aware that the IRS sets traps for unwary homeowners. While the IRS says… read more

Posted on October 3, 2022

In late September, the Internal Revenue Service sent out some new details on student loan relief, which was announced earlier this year. It has also provided links for further information. Meanwhile, opponents of loan relief are taking legal action to try to prevent it, although the administration continues to proceed. Who’s Eligible You are eligible if you have most federal… read more

Posted on October 1, 2022

 This month, Reggie Garcia, Operations Manager and Client Concierge, visited the Louisville Salt Cave for our regular series “Better Health, Longer Life.” (We like to say that while our work at Triplett & Carothers often includes drafting estate plans to provide for disability and death, our goal is to put off using them as long… read more

Posted on September 3, 2022

The first tip is to always question where you are planning to get your advice from when it comes to tax and finance tips for seniors. There are a lot of scams out there — from incompetent and so-called experts to downright crooked “professionals.” So says Julian Block, an attorney and former IRS special agent. Be especially suspicious… read more

Posted on September 2, 2022

If you opt to keep your will at home, discreet hiding places probably come to mind. Some popular spots include the back of the toilet water tank (always taped in a waterproof bag!), the freezer, the pantry, on a bookshelf, under floorboards, in a closet or even buried (in a can or jar) in the… read more