Stateline Senior Services, LLC

Stateline Senior Services, LLC Our business helps with people who are retired or are about to retire to plan for their retirement.

Due to the coronavirus, we are currently working remotely but still operating at full capacity. Stateline Senior Services was founded by Bill McCloskey having a wealth of experience serving over 10,000 senior citizens in Connecticut and Western Massachusetts over the past 30 years._x000D_
Expertise in helping his clients with the Three Pillars of Retirement Planning:_x000D_
• Protect their

wealth and ensure that it lasts._x000D_
• Preserve their assets against the risks of retirement, such as stock market and long term care risks._x000D_
• Distribute the highest income with the least amount of taxation and risk.

Chances are, most people know a family impacted by Alzheimer's.It's a difficult diagnosis—one that affects not only memo...
09/04/2025

Chances are, most people know a family impacted by Alzheimer's.

It's a difficult diagnosis—one that affects not only memory, but also family dynamics, financial stability, and extended-care decisions.

September is World Alzheimer's Month, and for those with aging parents or loved ones showing early signs of cognitive decline, now is the time to:

👉 Review powers of attorney and healthcare directives

👉 Check that trusted contacts are listed with financial institutions

👉 Consider extended-care strategies and funding options

👉 Have open conversations before capacity becomes a concern

These aren't easy topics, but addressing them early is one of the most caring things families can do.

If you're concerned about whether your current approach is built to support these possibilities, we're happy to meet and make sure it's on track.



https://www.williamjosephcapital.com/events/10-warning-signs-of-alzheimers-featuring-chelsea-rule-from-the-alzheimer

10 Warning Signs of Alzheimer’sDate: Tuesday, September 10Time: 6:00 – 6:30 PM EST Virtual via Zoom Register here: https...
09/02/2025

10 Warning Signs of Alzheimer’s

Date: Tuesday, September 10
Time: 6:00 – 6:30 PM EST
Virtual via Zoom

Register here: https://zoom.us/webinar/register/WN_u0z5xlD8QNSbwYdroIuwGQ #/registration

We’re honored to be hosting the Alzheimer’s Association for a special educational webinar.

You’ll learn about:
• Normal aging vs. Alzheimer’s
• Key warning signs
• Importance of early detection
• Next steps in the diagnostic process

Now that it's September and we’ve had time to digest the 887-page law passed this July, here’s a snapshot of the provisi...
09/02/2025

Now that it's September and we’ve had time to digest the 887-page law passed this July, here’s a snapshot of the provisions that may impact you:

👉 TCJA provisions now permanent, including tax brackets, standard deductions, and the 20% pass-through deduction

👉 2025 standard deduction increases—$15,750 (single), $23,625 (head of household), $31,500 (married filing jointly)

👉 Senior bonus deduction—up to $6,000 more for taxpayers 65+ (through 2028)

👉 SALT cap raised—up to $40,000 (2025–29) for incomes under $500K

👉 Child Tax Credit boosted—$2,200 per child, with up to $1,700 refundable

👉 Estate & gift exemptions increased—$15M individual / $30M married (effective 2026)

👉 Small business incentives—permanent 20% QBI deduction, Section 179 expensing raised to $2.5M, and 100% bonus depreciation

Several provisions are temporary (expiring 2028–29), so proactive, coordinated strategies remain essential.

If you have questions, we’re here to help.

As financial professionals, we can coordinate with your tax advisor, estate lawyers, and accounting professionals to help your tax strategy keep pace with evolving policies.



This information is for educational purposes only and is not intended as tax, legal, or investment advice. Please consult a qualified professional regarding your individual circumstances

Sources

1 CNBC, June 18, 2024

https://www.cnbc.com/2024/06/18/plan-for-expiring-trump-tax-breaks.html

2 CNBC, July 3, 2025

https://www.cnbc.com/2025/07/03/trump-big-beautiful-bill-tax-changes.html?msockid=37a2e58496ac672b39a4f4af9742667d

3 Journal of Accountancy, July 7, 2025

https://www.journalofaccountancy.com/news/2025/jun/tax-changes-in-senate-budget-reconciliation-bill/

4 CNBC, July 4, 2025

https://www.cnbc.com/guide/what-trumps-one-big-beautiful-bill-means-for-your-money/ -2017-tax-cut-extensions

5 The Wall Street Journal, June 13, 2025

https://www.wsj.com/personal-finance/taxes/republican-tax-bill-529-college-savings-a035f7e7?mod=Searchresults_pos1&page=1

6 Fidelity, July 2025

https://www.fidelitycharitable.org/articles/obbb-tax-reform.html

7 Fortune, July 2025

https://www.msn.com/en-us/money/smallbusiness/how-the-big-beautiful-bill-is-rewriting-the-rules-for-small-business-success/ar-AA1IcHJM?ocid=BingNewsVerp

8 USA Today, July 1, 2025

https://www.usatoday.com/story/graphics/2025/07/01/winners-losers-trump-big-tax-bill-senate/84391469007/

Do you hesitate to spend your money because it might mean selling investments and paying taxes?You’re not alone. Shifti...
08/29/2025

Do you hesitate to spend your money because it might mean selling investments and paying taxes?

You’re not alone.

Shifting into “spending mode” can feel uncomfortable even when you’ve saved more than enough to meet your goals.

But those early retirement years are often your best chance to turn wealth into meaningful memories.

Some thoughts:

🔸 Set experience goals, not just financial ones.

🔸 You can’t earn back time. Don’t miss the chance to enjoy the benefits of your wealth while health, mobility, and opportunity are on your side.

🔸 Spending with purpose—even if it means a tax bill—is just as important as saving all those years.

🔸 Above all, stick to a strategy. Retirement spending often moves through stages—from the active go-go years to the slower years ahead—so being prepared for what’s next is part of spending wisely.

What would you do this year if you gave yourself permission to spend a little of that nest egg you’ve built?

Note: Always consult with your tax professional about the specific consequences of selling an investment. This content is for educational purposes only and does not constitute tax, legal, or investment advice.

When’s the right time to transfer wealth—at death, or during life?For some, that answer is shifting. Lifetime gifting i...
08/27/2025

When’s the right time to transfer wealth—at death, or during life?

For some, that answer is shifting.

Lifetime gifting is becoming an increasingly strategic part of estate management not just for tax reasons but also to help provide some clarity, preserve control, and align decisions with long-term goals.

Key considerations:

✅ $13.99M federal exemption in 2025 ($27.98M for couples)
✅ $19,000 annual exclusion per recipient ($38,000 for couples)
✅ Don’t forget that your state may also impose estate taxes, and those may be well below the federal threshold
✅ Tools like trusts, donor-advised funds, and 529 plans allow for flexible, value-aligned giving
✅ Lifetime gifting may help manage your estate and unintended conflict

Gifting isn’t the right fit for everyone, but for those confident in their financial position, it may be worth a closer look as part of a proactive estate strategy.

This post is not a replacement for real-life advice. Your tax, legal, and accounting professionals can help structure your estate strategy.

Before moving forward with a trust, consider working with a professional familiar with the relevant rules and regulations. As financial professionals, we can help you structure this type of conversation with other professionals.

Some donor-advised funds are considered mutual funds and are sold only by prospectus. The prospectus will provide information on charges, risks, expenses, and investment objectives and should be reviewed carefully before investing. Investment companies can provide a prospectus, or you may prefer to ask your financial professional. Please read it carefully before you invest or send money.

A 529 plan is a tax-advantaged college savings plan. Before choosing a plan, it's important to consider not only the state tax treatment, but also any associated fees and expenses. Availability of a state tax deduction will depend on your state of residence, as state tax laws and treatment may vary from federal tax laws. If you make nonqualified distributions, earnings will be subject to income tax and a 10% federal penalty tax.

Sources:

1. Cerulli Associates, December 5, 2024

https://www.cerulli.com/press-releases/cerulli-anticipates-124-trillion-in-wealth-will-transfer-through-2048

2. MassMutual, March 18, 2024

https://blog.massmutual.com/planning/lifetime-gifting

3. Fidelity, January 01, 2025

https://www.fidelity.com/viewpoints/wealth-management/insights/lifetime-gift-and-estate-tax-exclusions

4. Merril Lynch, May 2025

https://www.merrilledge.com/article/should-you-give-your-kids-an-early-inheritance

5. The College Investor, April 4, 2025

https://thecollegeinvestor.com/55020/how-to-gift-money-to-a-529-plan/

6. Saving For College, December 30, 2024

https://www.savingforcollege.com/article/whats-the-difference-between-custodial-and-individual-529-plans

Do you know how much is left to spend in your FSA?With fall approaching, it'll be year-end before you know it and a few ...
08/25/2025

Do you know how much is left to spend in your FSA?

With fall approaching, it'll be year-end before you know it and a few quick checks can help make the most of your health benefits:

👉 Got an FSA? Many Flexible Spending Accounts have a use-it-or-lose-it rule. Fall’s a smart time to use pre-tax dollars on eligible expenses like dental work, eye care, or approved health products. It’s worth checking your plan, as many items you might not think would be eligible may actually be!

👉 Met your deductible? If you’ve already hit it, consider scheduling any remaining doctor visits or procedures before year-end while your coverage is still working in your favor.

👉 Have an HSA? Health Savings Accounts roll over year to year, but fall is a great time to review how you're using those funds and plan for next year.

Note - Once you start Medicare, you can no longer contribute pretax dollars to your Health Savings Account (HSA). Any money withdrawn from your HSA for a nonmedical reason is considered taxable income and faces an additional 20% penalty. This penalty is void after age 65; however, it would still become taxable income.

A quick review now can help you use your benefits wisely and perhaps avoid leaving money on the table before the year wraps up.

This information is for educational purposes only and is not intended as tax, legal, or investment advice. Please consult a qualified professional regarding your individual circumstances.

Sources:

https://www.hrblock.com/tax-center/filing/adjustments-and-deductions/deducting-medical-expenses-paid-with-hsa/

Plan on leaving an IRA to your kids? Read this first.Starting this year, the IRS will begin enforcing new required minim...
08/22/2025

Plan on leaving an IRA to your kids? Read this first.

Starting this year, the IRS will begin enforcing new required minimum distribution (RMD) rules for inherited IRAs. Missing a withdrawal could result in a tax penalty.

Here’s what you need to know:

📌 The “stretch IRA” is mostly gone. Most non-spouse beneficiaries must now fully deplete the account within 10 years.

📌 Annual RMDs may be required, depending on when the original owner died.

➡️ If they died before RMDs were required: No annual RMDs, just empty the account by year 10
➡️ If they died after RMDs began: Annual withdrawals are required in years 1–9



📌 Who’s exempt from the 10-year rule?
✔ Spouses
✔ Minors (Children)
✔ Beneficiaries with disabilities or chronic illnesses
✔ Heirs

📅 August 21, 2025 at 6PM ESTIt’s almost time for "The Ins and Outs of Trusts and How to Avoid Probate"!There’s still tim...
08/19/2025

📅 August 21, 2025 at 6PM EST

It’s almost time for "The Ins and Outs of Trusts and How to Avoid Probate"!

There’s still time to save your spot — don’t miss practical tips to help your family avoid probate and prepare for the future.

👉 Sign up here:
https://zoom.us/webinar/register/WN_FaLY09mTQB6zmNUPwNDJ9Q #/registration

Here’s what nobody tells you about passing on wealth… The legal documents are important, but the conversation is what c...
08/18/2025

Here’s what nobody tells you about passing on wealth…

The legal documents are important, but the conversation is what creates a real legacy. 💬

We see it all the time: a solid estate strategy, but no alignment among the people it impacts most.

✅ Have you shared your goals with your family?

✅ Do your heirs understand why your estate is structured the way it is?

✅ Have you prepared them for both the assets and the responsibilities?

Your legacy isn’t just what you leave behind—it’s what you pass forward through conversations, values, and clarity.

If you could write one sentence to be passed down through generations, what would it say?



This information is for educational purposes only and is not intended as tax, legal, or investment advice. Please consult a qualified professional regarding your individual circumstances.

📅 August 21, 2025 at 6PM ESTYou’re invited to "The Ins and Outs of Trusts and How to Avoid Probate" with guest experts f...
08/14/2025

📅 August 21, 2025 at 6PM EST

You’re invited to "The Ins and Outs of Trusts and How to Avoid Probate" with guest experts from Members Trust Company.

Learn how a trust can help your family avoid probate and protect what matters most.

👉 RSVP today: https://zoom.us/webinar/register/WN_FaLY09mTQB6zmNUPwNDJ9Q #/registration

Anyone else shocked by how quickly back-to-school expenses add up this year?Between private school tuition increases, co...
08/13/2025

Anyone else shocked by how quickly back-to-school expenses add up this year?

Between private school tuition increases, college prep programs, and those "optional" technology upgrades that aren't really optional, August can feel financially intense even when you're prepared.

Here's what we see with successful families: they use education expenses as an opportunity to optimize their overall strategy.

Worth considering:

Are you maximizing 529 contributions for the tax benefits?
Could prepaying tuition help with cash flow and potential discounts?
Does your investment timeline align with upcoming college costs?

Education is one of the best investments you can make in your children's future. The key is making sure these expenses work efficiently within your broader financial picture.

Here's to a successful school year! 📚

This information is for educational purposes only and is not intended as tax, legal, or investment advice. Please consult a qualified professional regarding your individual circumstances.

Address

48 South Road, # 2
Somers, CT
06071

Opening Hours

Monday 8:30am - 2pm
Tuesday 8:30am - 2pm
Wednesday 8:30am - 2pm
Thursday 8:30am - 2pm
Friday 8:30am - 2pm

Telephone

+18607490482

Website

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