Hamilton McGregor Associates

04/29/2026

04/22/2026

Navigating an uncontested divorce can feel overwhelming, but it doesn’t have to be. Reflecting on what many clients go through, I’ve seen how having the right guidance and properly prepared documents can make the entire process smoother, faster, and far less stressful. It’s all about staying organized, understanding the steps, and moving forward with clarity and confidence.

Every individual deserves support during life transitions like this. With the right preparation, you can handle your uncontested divorce efficiently and focus on your next chapter.

Let’s get through it together. I’d love to hear your thoughts—have you gone through this process or are you considering it? Share your experiences or questions below.

04/17/2026

5 Ways to Potentially Reduce RMD Taxes After Age 73

Here are five actionable strategies to consider when managing RMD-related taxes:

1. Convert Traditional IRA Funds to a Roth IRA
Roth IRAs are not subject to RMDs, making them a potentially powerful tool for reducing your taxable income in retirement.
By converting portions of your traditional IRA to a Roth IRA over time, you may be able to lower the overall balance of accounts subject to RMDs. For example, at age 73, you might consider converting a portion of your IRA during a year when your other income is limited, such as after completing a major home sale or other large expense. Keep in mind that Roth conversions are taxable in the year they occur, so it can be important to calculate the potential tax impact ahead of time. A fiduciary financial advisor may be able to help with this. You can get matched with advisors at no cost by clicking here and taking a short survey.

2. Make Qualified Charitable Distributions (QCDs)
If you’re feeling generous, qualified charitable distributions (QCDs) may help offer a dual benefit: supporting causes you care about while reducing your taxable income. A QCD allows you to transfer up to $100,000 per year directly from your IRA to a qualified charity. For example, a 74-year-old who has already fulfilled their personal financial needs might use a QCD to donate part or all of their RMD to a favorite charity, which could help ensure it doesn’t potentially increase their taxable income. This strategy has the potential to be particularly effective for reducing taxes without increasing your adjusted gross income (AGI), which can impact other tax factors like Medicare premiums.

3. Strategically Withdraw to Manage Future RMDs For individuals already past 73, strategically withdrawing more from tax-deferred accounts may be able to help manage future RMDs by reducing their size and potential tax impact. This approach involves taking distributions to stay within lower tax brackets, preventing larger RMDs in later years. For example, a 74-year-old might withdraw extra funds to cover anticipated expenses or reinvest in a taxable account, maintaining control over their taxable income.
Proactive planning can potentially help you avoid unnecessary tax spikes while meeting your financial needs. A fiduciary financial advisor could help you determine if this is a smart strategy for you. Click here to take SmartAsset’s quick, free quiz to get matched with advisors who serve your area.

4. Adjust Your Investment Allocation
The mix of assets in your retirement accounts has the potential to influence the growth of your balances and impact the size of your RMDs. Shifting to investments that generate lower returns in tax-deferred accounts and higher returns in taxable or tax-free accounts may help manage the potential growth of RMD-triggering accounts. For example, a 73-year-old might prioritize holding income-generating bonds in their IRA while keeping growth-focused stocks in their Roth IRA, potentially keeping the traditional IRA from growing to a point that it inflates future RMDs.
Always consider your overall financial goals and risk tolerance before making changes to your portfolio. This is another area where a financial advisor may be able to help.

5. Use RMDs to Pay for Qualified Expenses
At age 73 and beyond, leveraging RMD funds strategically for essential expenses could potentially help reduce the need to dip into other taxable accounts. For example, you could use RMD funds to pay for qualified medical expenses, home modifications, or even long-term care premiums. If these costs exceed a certain percentage of your AGI, they may also provide potential tax deductions. This approach could allow your RMDs to be used effectively while potentially offsetting their tax impact.

04/16/2026

15 Cheapest States to Form an LLC

Here are the 15 cheapest states to form an LLC, based on their LLC filing fees:

1. Kentucky: $40
Kentucky's low filing fee, business incentives, and affordable cost of living make it an attractive option for entrepreneurs. The state also provides resources and support to help businesses succeed.
2. Mississippi: $50
Mississippi has the lowest LLC filing fee, making it an affordable option for entrepreneurs. The low cost of living and business-friendly environment contribute to its attractiveness.
3. Arkansas: $50
Arkansas offers an affordable LLC filing fee and a low cost of living. The state also provides various resources and support for small businesses.
4. Colorado: $50
Colorado's low LLC filing fee and thriving economy make it an attractive option for startups. The state has a business-friendly environment and offers various resources to support new businesses.
5. New Mexico: $50
New Mexico has a low LLC filing fee and a low cost of living. The state offers various resources and incentives for businesses, including access to funding and tax breaks.
6. Michigan: $50
Michigan's low filing fee and revitalized economy make it an attractive option for entrepreneurs. The state provides resources and support to help businesses grow, including access to funding and tax incentives.
7. Indiana: $95
Indiana has a low LLC filing fee, a business-friendly environment, and a low cost of living. The state offers resources and support for small businesses, including access to funding and tax incentives.
8. Ohio: $99
Ohio has a low LLC filing fee, a business-friendly environment, and a strong economy. The state offers resources and support for small businesses, including access to funding and tax incentives.
9. Oklahoma: $100
Oklahoma's affordable filing fee, low cost of living, and business-friendly environment make it an attractive location for entrepreneurs. The state also provides resources and support for small businesses.
10. Louisiana: $100
Louisiana offers a low LLC filing fee, a low cost of living, and various resources and support for small businesses, making it an attractive option for entrepreneurs.
11. Missouri: $105
Missouri offers an affordable LLC filing fee, a low cost of living, and a business-friendly environment. The state also provides resources and support for small businesses.
12. South Carolina: $110
South Carolina's low filing fee, combined with its business-friendly environment, makes it an attractive location for entrepreneurs. The state provides various resources and support for small businesses.
13. Alabama: $200
Alabama has relatively low filing fees and offers a business-friendly environment with incentives and resources for small businesses, including access to funding and tax breaks.
14. Tennessee: $300
Despite a higher filing fee, Tennessee has a strong economy, no personal income tax, and offers resources for small businesses, making it an attractive option for entrepreneurs.
15. Texas: $300
Texas has a higher filing fee, but its strong economy, no personal income tax, and business-friendly environment make it an attractive option for entrepreneurs.

03/25/2026

How do I know whether I have what it takes to run my own business?
Before starting out, list your reasons for wanting to go into business. Some of the most common reasons for starting a business include wanting to be self-employed, wanting financial and creative independence, and wanting to maximize your skills and knowledge.

When determining what business is "right for you," consider what you like to do with your time, what technical skills you have, recommendations from others, and whether any of your hobbies or interests are marketable. You must also decide what kind of time commitment you're willing to make to running a business.

Then you should do research to identify the niche your business will fill. Your research should address such questions as what services or products you plan to sell, whether your idea fits a genuine need, what competition exists, and how you can gain a competitive advantage. Most importantly, can you create a demand for your business?

11/15/2020

www.hamiltonmcgregorassociates.com

Hamilton McGregor & Associates Providing Business Formation Serices, Document Prepration, Credit Repair