Savant Blog

Savant offers perspective on a variety of topics. Entries range from current events to timeless insights in the world of finance and investments.

13 Jan
January 13, 2015

The season is upon us and those of us at Savant thought it would be a good idea to repost the following article on IRS phone call scams occuring across the nation. We’ve heard from numerous victims in the last couple months and we want to spread the word to keep people on guard and as safe as possible.

By this time of year, most people have received their tax-related documents. As more and more returns are filed and received by

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12 Jan
January 12, 2015

Is saving more money for retirement one of your New Year’s Resolutions? Well, good news awaits you! The IRS has increased the contribution limits to many retirement savings plans for 2015, providing additional opportunity for tax savings. Contributing to a tax deferred retirement plan can be the single best way to reduce your tax liability while saving for your future.

Here’s how:

401(k), 403(b), TSP, and most 457 plans:

- Maximum deferral (contribution) has increased to $18,000 from $17,500

- Catch-up contribution limit for those over

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06 Jan
January 06, 2015

As part of recent tax-extenders legislation, Congress passed the Achieving a Better Life Experience (ABLE) Act of 2014. The ABLE Act created a new Section 529-ABLE account that can be used for certain expenses of special needs beneficiaries. The new 529-ABLE accounts will be modeled using the existing 529 college savings plan framework. States will be responsible for establishing their own plans, similar to 529 college savings plan accounts.

Distributions will be tax free when used for

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29 Dec
December 29, 2014

There is a certain comfort in calculated numbers. They give us the chance to project certain outcomes, probabilities, balances, and funds. You might spend hours muddling over numbers or even hire someone to help you calculate the numbers your career and retirement depend on. Either way, most people embrace a calculation that gives them the security of knowing their plan is working or not.  The good news is that 401(k) retirement calculators are often available for free online, but the

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17 Dec
December 17, 2014

If you had the ability to take a refund of your Social Security tax withholding and invest the money yourself, would you do it? What about if the system changed and you were required to contribute your equivalent current withholding to a tax-deferred investment account from the beginning? 

Let’s review question number one first:

Pretend for a moment that you are 22, new to the workforce, and earning $35,000 annually.  The Social Security Administration continues as is during your first 10 years of

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