Rick Brooks
Rick Brooks's Latest Posts
Retirement Accounts: Distribution Rules
With the year-end approaching, an important deadline for retirement account owners is also coming, so this column will deal with some of the rules surrounding IRAs and distributions. A significant caveat applies here: the rules can be very complex and people have literally written books on the topic. So I won’t be able to cover […]
Tax Efficient Charitable Giving
A couple of months ago, I wrote about having a charitable giving plan, and how that can allow people to be strategic about their charitable gifts. As tax rates have been on the rise lately, many people have been looking for ways to reduce their income tax bill while benefitting the community. The whole point […]
Life Insurance – What’s The Catch?
Life insurance is an important part of any financial plan. It is designed to provide financial resources for a family in the event that a member’s premature death would cause financial hardship for the survivors. However, life insurance is often used for a variety of creative purposes beyond its intended design, and therein lies the […]
Charitable Giving is on the Rise
By Rick Brooks According to a report by Giving USA, gifts to charity totaled $335.2 billion last year, up 4.4 percent from 2012 and almost back to the peak levels reached in 2007. I’ve also had the pleasure of being able to assist some very generous clients with their personal gifts recently, so I thought […]
Retirement Plans for Small Businesses
Many of the requests we get from business owners around this (tax preparation) time of year relate to lowering the tax bill or saving for retirement. Many contribute to retirement plans steadily throughout the year, but several business owners also make last minute contributions to their plans as they figure out their tax liability and […]
Saving for College
According to a 2011 report by the Census Bureau, a college graduate can earn over 80 percent more during his or her lifetime than someone with just a high school diploma. But that advantage comes with a price tag. Currently, the annual cost of a four year private college can top $30,000 for tuition, fees, […]
Extra Crispy
By now, it can’t come as a surprise to San Diegans that California is facing one of the worst droughts in recorded history, and according to one report, maybe the worst since 1580. In a recent interview on KPBS, CAL FIRE San Diego Deputy Chief Kelly Zombro stated that local brush moisture levels are at […]
What Happens to Your Digital Assets?
As more and more of our life moves from filing cabinets and desk drawers into “the cloud,” it is becoming more important to plan for the management of your electronic assets at death or disability. Think about your iTunes library. Or (for the six people reading this column who don’t own an Apple product) think […]
Have You Reviewed Your Beneficiary Designations Lately?
When was the last time you reviewed the beneficiaries for your retirement accounts and insurance policies? When you open a retirement account or buy an insurance policy, part of the process is determining who will receive the assets when you pass away: your beneficiary. Unfortunately, many people never review those choices, even when life changes. […]
