STRATA Trust Company’s Post

*Table D (used for calculating withdrawal benefits under EPS 95) revised w.e.f 14/06/2024* It defines rate (*multiplplying factor*)on month basis rather than year basis used till date. It will also enable the grant of withdrawal benefit for *less than six month* service.

💼 Inheriting IRAs: 4 Common Situations 💼 1️⃣ Spouse (Before RMDs Start) * Stretch: Small lifetime withdrawals. * 10-Year Rule: Empty account within 10 years. * Spousal Transfer: Treat as your own IRA. 2️⃣ Spouse (After RMDs Start) * Take year-of-death RMD, then treat as your own or stretch using IRS life tables. 3️⃣ Adult Child * Before RBD: No annual RMD, but must empty in 10 years. * After RBD: Annual RMDs for 9 years, empty by year 10. 4️⃣ Disabled Child * Stretch distributions over life expectancy. 📊 Tax Tip: RMDs were waived for 2020-2024, but the 10-year clock is ticking! Make sure your planner’s software is updated for precise calculations. 🧮 #IRAInheritance #TaxPlanning #RMD #FinancialPlanning #IRATips #CPA #TaxAccountant #SterlingTaxAndAccounting #SRQTax

🏢 Common Financial Error #5: Early Incorporation 🏢 While incorporating can be a smart move for physicians, jumping in too early can be costly. Many doctors face higher legal and accounting fees without truly benefiting from incorporation—especially when debts, mortgages, and underfunded RSPs and TFSAs still loom large. ⚖️ In my latest blog post, I explore 9 common financial errors made by physicians, including the downsides of early incorporation. Learn from Shane’s story 👇 and see if incorporation is right for you at this stage. 📊. https://lnkd.in/g_vq3jeZ 👉 Read more: https://lnkd.in/eV8yt-vS #PhysicianFinance #Incorporation #MedicalFinance #WealthManagement #FinancialPlanning #SmartMoneyMoves #DoctorLife #FinancialGoals #DebtManagement #PhysicianLife #FinancialFreedom #LegalFees #AccountingCosts #TaxPlanning #DoctorDebt #PhysicianWealth #RetirementPlanning #RSPS #TFSAS #PersonalFinance #FinancialAwareness #WealthBuilding #MedicalProfessionals #MoneyManagement #SmartInvesting #FinancialHealth #PhysicianGrowth

The penalty for not taking RMDs for beneficiaries under the 10-year rule will NOT be enforced (again) for 2024. While guidance on how things will be handled is still up in the air, we recommend still taking the RMDs to avoid complications down the road. https://bit.ly/4agSIz6

You must take your first required minimum distribution (RMD) for the year in which you reach age 73. However, you can delay taking the first RMD until April 1 of the following year. For example: - If you reach age 73 in 2024, you must take your first RMD by April 1, 2025, and the second RMD by Dec. 31, 2025. - If you reach age 73 in 2025, your first RMD for 2025 is due by April 1, 2026. Note that the age for taking RMDs increased from 72 to 73 starting in 2023, as per the SECURE 2.0 Act. This change applies to individuals who turn 72 after December 31, 2022. A different deadline may apply to RMDs from pre-1987 contributions to a 403(b) plan. Remember, these rules are subject to change, so it's always best to consult with a financial advisor or the IRS for the most up-to-date information. Contact me for personalized financial advice. #RMD #RetirementPlanning #SECUREAct #FinancialLiteracy #RetirementSavings #TaxPlanning

DDV PROVIDED MEDICARE CPA NET15 3$ per hour (3) quota per day Or $25 per sale if quota is not met ACA CPL NET7 120sec 3$ per hour (5) quota per day Or $7 per sale if quota is not met DEBT CPL NET7 120sec 3$ per hour (5) quota per day Or $7 per sale if quota is not met PLUS BONUS IF QUOTA IS EXCEEDED

📢 𝗜𝗺𝗽𝗼𝗿𝘁𝗮𝗻𝘁 𝗡𝗲𝘄𝘀: CMS is recalculating the 2024 Star Ratings due to recent court rulings. This recalculation could significantly impact your 2025 plan bids, but the window for adjustments is limited - 𝗝𝘂𝗻𝗲 𝟮𝟴𝘁𝗵 𝗶𝘀 𝘁𝗵𝗲 𝗱𝗲𝗮𝗱𝗹𝗶𝗻𝗲.   𝗪𝗵𝗮𝘁 𝗬𝗼𝘂 𝗡𝗲𝗲𝗱 𝘁𝗼 𝗞𝗻𝗼𝘄: ✔️ The recalculated Star Ratings may lead to increased financial gains for some payors. ✔️Analyze the difference between your 2023 Star Ratings calculated using the Tukey method and your actual 2023 Star Ratings. A larger gap suggests a potential for higher revenue. 𝗚𝗼𝗼𝗱 𝗹𝘂𝗰𝗸 𝗻𝗮𝘃𝗶𝗴𝗮𝘁𝗶𝗻𝗴 𝘁𝗵𝗲𝘀𝗲 𝗮𝗱𝗷𝘂𝘀𝘁𝗺𝗲𝗻𝘁𝘀! 𝗜𝗳 𝘆𝗼𝘂 𝗵𝗮𝘃𝗲 𝗮𝗻𝘆 𝗾𝘂𝗲𝘀𝘁𝗶𝗼𝗻𝘀 𝗼𝗿 𝗻𝗲𝗲𝗱 𝗾𝘂𝗶𝗰𝗸 𝗵𝗲𝗹𝗽 𝘄𝗶𝘁𝗵 𝘁𝗵𝗲𝘀𝗲 𝗮𝗱𝗷𝘂𝘀𝘁𝗺𝗲𝗻𝘁𝘀, 𝘄𝗲'𝗿𝗲 𝗵𝗲𝗿𝗲 𝘁𝗼 𝘀𝘂𝗽𝗽𝗼𝗿𝘁 𝘆𝗼𝘂. https://lnkd.in/gUa9KEA8 #MedicareAdvantage #Medicare #MedicareInsurance

Your Wealth is a half-yearly publication produced by Morgans, that delves into key insights for Wealth Management. Our latest Issue 27 is out now. This latest publication will cover understanding the benefits of a CarePlus annuity for aged care, the proposed Div296 tax, averting a world recession, super and tax next financial year and expectations on how illiquid assets in SMSFs are valued. Terri Bradford #WealthManagement Explore Your Wealth: https://lnkd.in/gRfNfAHK

5 Ways for NDIS Participants to Build Financial Boundaries 🛡️💵 Protect your finances by: 1. Saying No When Needed: It's okay to decline lending money. 2. Setting Spending Limits: Know your budget and stick to it. 3. Avoiding Peer Pressure: Make choices based on your needs. 4. Keeping Personal Info Private: Don't unnecessarily share bank or NDIS details. 5. Reviewing Joint Accounts: Understand any shared financial responsibilities. Setting boundaries helps you stay in control of your money. #ndis #budgeting #disabilityawareness #financialliteracy

Whether it's a TFSA, RRSP, or FHSA, registered accounts are awesome. The problem with these accounts is deciding which one(s) to maximize first. "Many counsel us to put the maximum allowable amount into both our RRSPs and our TFSAs. For big-income, childless people living rent-free in their parents' basements, that's unquestionably solid advice. The rest of us are probably going to have to prioritize. We need to figure out which vehicle to focus on first." - David Chilton https://lnkd.in/g8RbD5xQ The introduction of the FHSA adds another layer of complexity to Chilton's statement but the premise is the same. Disappointingly, the boring answer is "it depends." However, the article below is a good starting point to understanding the three accounts and beginning to make an informed decision.