Tax Planning


Examining The Roth IRA From Lee Sherbakoff, The Nalls Sherbakoff Group, LLC Dear Friends, There are many vehicles to choose from as you travel the road to retirement. One of the more advantageous means you may utilize to build a nest egg is the Roth IRA. A Roth IRA is an Individual Retirement Account that allows you to contribute after-tax dollars into a savings or brokerage account. With a Roth IRA, you get no up-front tax deduction,...

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Tax Time Is Finally Here From Lee Sherbakoff,The Nalls Sherbakoff Group, LLC. Dear Friends, Due to the Covid-19 pandemic, businesses were forced to close, and jobs were lost. So, the federal government extended tax season to give taxpayers a break, moving Tax Day to July 15. Taxes can be confusing, and more so now with the unprecedented changes. Let us look at four key topics related to the 2020 tax extensions affecting your 2019...

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CARES Act RMD Suspension From Lee Sherbakoff,The Nalls Sherbakoff Group, LLC. Dear Friends, On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act – better known as the CARES Act – was signed into law by President Trump. The CARES Act was third in a series of COVID-19-related relief legislation beginning with the Coronavirus Preparedness and Response Supplemental Appropriations Act of 2020 which was followed shortly...

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Your Financial Plan and COVID-19 From Lee Sherbakoff, The Nalls Sherbakoff Group, LLC. Dear friends, We all vividly recall the global financial crisis of 2008. The economy was quickly contracting, several financial institutions required bailouts, layoffs abounded, and the stock market plunged.  But we weren’t grappling with fear tied to a health crisis then. We could go to a movie, eat at a restaurant, travel, or enjoy...

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Socially Distance Yourself From COVID-19 Scams From Lee Sherbakoff, The Nalls Sherbakoff Group, LLC. Dear friends, Whenever there is a natural disaster, there are always people who prey on those who want to help. Today, the disaster is a pandemic. Many are fearful, many are scared. It makes us especially vulnerable. The FTC has warned Americans to beware of the potential scams that are proliferating. Here are some precautions to take...

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Volatility and Expectations From Lee Sherbakoff, The Nalls Sherbakoff Group, LLC. Dear friends, Fear and uncertainty linked to the COVID 19 pandemic have created mayhem in the stock market. As an investor, it’s easy to lose perspective and allow your worst instincts and emotions to overwhelm you. To gain some perspective, let’s look at what the evidence shows. Let’s start by looking at drawdown—the peak-to-trough decline. The market...

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