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Wealth Planning

A man in a suit, glasses, and a striped tie bends under the heavy weight of three large binders labeled "TAX" stacked on his back. He appears strained as he balances the oversized folders, symbolizing the burden of estate tax mitigation, against a green background.

5 Estate Tax Mitigation Techniques You Should Consider

November 15, 2023

The Tax Cuts and Jobs Act In 2017, The Tax Cuts and Jobs Act doubled the amount that someone could pass to their heirs without incurring Federal estate tax. As a result, many families have enjoyed relief from the federal estate tax. In 2023, an individual can pass just under $13 million ($26 million for a couple) to their heirs without getting hit by the 40% federal estate tax. There is an important caveat note,

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2024 IRS limits announced

November 3, 2023

The IRS recently announced 2024 limits affecting retirement plans and other qualified savings vehicles. The amounts have increased in almost all categories.  You will see the changes in bold in this quick reference.  For advice on tax planning, contact a SYM advisor. 401(k) Related Limits 2024 2023 401(k) Elective Deferrals $23,000 $22,500 401(k) Catch-up Contribution $7,500 $7,500 415 Annual Additions Limit $69,000 $66,000 Annual Compensation Limit $345,000 $330,000 Social Security Wage Base $168,600 $160,200  

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A promotional graphic for the podcast "EMPOWHER: Financial Prowess for Women," hosted by Michelle Hipskind. The background features a gradient from white to purple with Michelle Hipskind's photo on the right, smiling, wearing a green necklace and a dark blazer. Topics include planning for pets.

Ensuring Your Pets are Cared For After You’re Gone

October 5, 2023

In this quick but packed full of information episode, Michelle discusses the importance of including plans for your pets in your estate planning. Many households now have companion animals, so it is crucial to consider what will happen to dogs, cats, or other pets if their owners become unable to care for them or pass away. Michelle recommennds speaking with your estate attorney about setting aside funds and establishing guardians for your pets. She also

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A promotional image for the podcast "EmpowHER: Financial Prowess for Women," hosted by SYM Financial Advisors. The episode features Michelle Hipskind discussing the implications of the SECURE Act. Michelle is smiling, wearing a green top and statement necklace, set against a partially blurred background.

Understanding Hidden Nuggets within the SECURE Act

September 21, 2023

We have a quick tactical nugget for you on this latest episode of the EmpowHER podcast. In this episode, Michelle Hipskind focuses on dissecting the changes brought about by the 2019 SECURE Act, with particular emphasis on the elimination of the “stretch IRA,” which imposes a 10-year limit for withdrawals for those inheriting IRA accounts. However, the podcast also sheds light on exceptions like qualified charitable distributions for beneficiaries close to 70 and a half years old.

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Podcast cover art for "Executive Decisions: A Podcast for Business Leaders" featuring Episode 22 with Dennis McKeever. The background is green with white and gray arrows pointing upward, and a photo of Dennis McKeever is at the bottom right corner.

Insight on Risks, Rewards, and the True Measure of Wealth with Dennis McKeever

September 12, 2023

Dennis McKeever has a bachelor’s degree in chemistry from the University of Pittsburgh along with a PhD in physical chemistry from the University of California, Irvine. Dennis retired from Dow Chemical after a thirty-year career where he primarily served as a senior manager in Research and Development.   However, he also had two business management experiences – first as the manager of the Chemicals business for Latin America and subsequently as the VP for the

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A person with short curly hair smiles warmly at the camera. Text on the image reads "The Owner's Corner, EP 16, Melissa Wolf," discussing everything from business insights to legal trusts.

Navigating the Maze of Charitable Giving and Trusts with Melissa Wolf

August 22, 2023

Melissa Wolf, CPA joined Baden Gage & Schroeder, LLC in 2012 with over seven years of tax experience specializing in gift, trust and estate planning. She directs tax engagements for clients with personal income, fiduciary income and gift tax service needs. Melissa has extensive experience in assisting clients with the formulation of retirement and estate plans. Melissa joins me for a powerful conversation spanning various topics, from Melissa’s diverse journey to becoming a CPA, to

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