The recent SECURE 2.0 legislation has changed a handful of rules pertaining to retirement accounts, including the distribution requirements of beneficiaries. Key Changes in Distribution Requirements Previously, the rules were more lenient, allowing beneficiaries to extend the annual required minimum distributions over their expected lifetime. This has been changed, and now we see one
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Business Owner Requirement If you are the owner of an LLC or corporation, the Financial Crimes Enforcement Network of the United States is requiring you to file a report. The deadline is 12/31/2024 and the fine is $500 per day if you do not file a report. If your tax team has not discussed this
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We would like to take this opportunity to introduce you to our company and our team. Bob Wink has been a financial advisor for over 36 years and is the President of our firm, Summit Financial Consulting, LLC. Along with his sons, Ken and Jim Wink, our in-house CFP® professional, Zach Bachner, and our newest
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Credit cards can be a very polarizing topic when discussing personal finances. There are some out there that swear they will never own a credit card and there are some who solely use their credit card to pay for as many expenses as possible. Today, we will break down our view of using credit cards
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We wanted to take this opportunity to refresh our mindsets and explain what we believe is required to achieve a high net worth status. 2024 is in full swing, and each day seems to be busier and busier. It is important not to fall victim to life’s craziness and to remain committed to your long-term
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