Kerfoot Financial Services

12/24/2025

Wishing You All A Very Merry Christmas and A Happy New Year!

01/14/2023

The 2023 Tax Season Is Starting. Here are some key changes!

The Internal Revenue Service announced Thursday that the agency will begin accepting 2022 tax returns on Jan. 23 ...

01/04/2022

401(k) and IRA: A Combined Savings Strategy!

Contributing to an employer-sponsored retirement plan or an IRA is a big step on the road to retirement but contributing to both can significantly boost your retirement assets. A recent study found that, on average, individuals who owned both a 401(k) and an IRA at some point during the six-year period of the study had combined balances about 2.5 times higher than those who owned only a 401(k) or an IRA. And people who owned both types of accounts consistently over the period had even higher balances.

Do you know the differences between a 401(k) and an IRA? Find out how they might work together to boost your retirement assets.

12/29/2021

Year End Tax Planning?

Review some of the deductions available.

Changes to the tax code have left a few key deductions for itemizers, like medical, dental and some business expenses.

12/23/2021

Do You Have a Tax-Smart Withdrawal Strategy?
Your plan for drawing down retirement assets could be just as important as your approach to accumulating retirement savings. Experts recommend various methods, such as the so-called 4% rule — withdrawing 4% of your nest egg each year (with adjustments for inflation) — or a three-phase system dividing your assets into groups for short-term, mid-term, and long-term retirement needs.

Explore the tax treatment of different types of retirement accounts and the tax consequences of withdrawals, especially from multiple accounts.

12/21/2021

Should You Speed Up Your Retirement Plans?
According to a March 2021 survey, an estimated 2.8 million Americans age 55 and older decided to file for Social Security benefits earlier than they expected because of COVID-19. This was about double the 1.4 million people in the same age group who said they expected to work longer, presumably due to pandemic-related financial losses.
https://www.patkerfoot.com/Should-You-Speed-Up-Your-Retirement-Plans.c9812.htm

12/20/2021

Year-End 2021 Tax Tips
As we come to the end of 2021 here are some tips to save you money as we head into 2022...

This article outlines various tax-related financial moves to consider before the end of the calendar year.

11/15/2021

Medicare Part B Premiums to Jump 14.5% Next Year!
Part of Biden's "Build Back Better"!

The standard premium for Part B, which covers outpatient care and durable equipment, will be $170.10 next year, up $21.60 from $148.50 this year.

11/12/2021

OPEC Tells Biden to Pound Sand!
In a move to lower domestic energy prices the Biden administration asked OPEC to increase production. OPEC's reply was "pump your own oil." Wasn't too long ago that the United States was energy independent and a net exporter of energy. The administration has abdicated American energy independence and put us at the mercy of foreign energy cartels. "Build Back Better" ?

Biden is walking a difficult tightrope. While he wants to commit to fighting climate change, he risks placing himself in an untenable economic and geopolitical position.