Posts by Simonet Financial

IRA and Retirement Plan Limits for 2020

If you or your spouse currently have multiple Individual Retirement Accounts open, please contact us to consider consolidating those accounts. Having multiple IRAs open can result in excessive management costs…
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SECURE Act Important Retirement Plan Changes

The $1.4 trillion spending package enacted on December 20, 2019, included the Setting Every Community Up for Retirement Enhancement (SECURE) Act, which had overwhelmingly passed the House of Representatives in…
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A Reality Check For Holiday Spenders

During the holiday season, like many people, you’re probably finding that in the process of spreading good cheer you’ve spent too much money. Along with needing to trim a few…
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Tax Planning for the Self Employed

Understand Self-Employment Tax and How It’s Calculated As a starting point, make sure that you understand (and comply with) your federal tax responsibilities. The federal government uses self-employment tax to…
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