It is crucial to understand your tax situation and how you file each year. Do you file Married Filing Jointly? Do you use TurboTax or Intuit? Do you have a CPA or tax professional assisting you? Ask yourself whether you prioritize saving money on preparation fees or whether you value strategic insight that can reduce your long-term tax liability. Understanding your tax situation can make a significant difference in how much you ultimately pay—or save—with the IRS. Knowing your situation is the foundation of good financial decision-making. How do I file my taxes? Going back to the basics, it’s important to know how you file—whether through an online provider or a CPA professional . Keep a few key factors in mind: Your stage of life. Are you single, married, or do you have dependents? Your income and deductions. Do you take advantage of the standard deduction or prefer to itemize? Are you charitable? Your assets and business activities. Do you own a business or rental property? Are you familiar with depreciation and how it affects your return? It’s also important to know which state you file in, as state tax laws can vary widely. Having clarity on these details ensures your filing process is accurate and strategic. Value Add of your Tax Professional If you don’t know the answers to the questions above—or even if you do—a tax professional can help you understand how all the pieces fit together. A CPA (Certified Public Accountant) or EA (Enrolled Agent) is licensed to prepare and file taxes on your behalf. Working with one provides not only compliance but also strategy. Financial advisors should “know enough to be dangerous”— and be able to connect your tax strategy with your investments, income sources, and retirement planning. A collaborative approach between a CFP® professional  and a CPA allows you to operate at full efficiency. These professionals’ value lies in helping you save money now and in the future, for example, by guiding you through Roth IRA contributions or Roth conversions. Staying up to date with ever-changing tax laws, such as recent legislative acts, ensures that your strategy remains proactive rather than reactive. Implementing the Strategy To implement your tax strategy effectively, you’ll likely need to work with both a financial advisor and a CPA or EA. In some cases, your financial advisor may also be an enrolled agent, providing a more holistic approach to your tax situation. A team-based approach—with multiple sets of professional eyes—ensures your strategy is thorough and customized. Open communication between your CPA and financial advisor is essential, especially when realizing gains from brokerage accounts or adjusting income to balance long-term tax efficiency. As Dave Ramsey often says, this might involve using a “bridge account” to create flexibility between tax-deferred and tax-free growth strategies. Ultimately, implementing the strategy means staying fluid—continuously reviewing your income, investments, family changes, and new laws to ensure you’re optimizing your tax situation each year. It’s not about avoiding taxes—it’s about paying them in the smartest way possible. Conclusion Knowing your tax situation is one of the most empowering steps you can take toward financial confidence. It allows you to work with professionals who not only understand complex topics but also have the heart of a teacher, helping you learn along the way. At Whitaker Myers Wealth Managers, we believe filing your taxes doesn’t have to be stressful or confusing. Working with a team of tax professionals and financial advisors provides immense value by uncovering opportunities and questions you may not have even known to ask. After all, you don’t know what you don’t know—and that’s exactly why expert help   matters. Implementing smart tax strategies can help you save money, build wealth, and minimize unnecessary taxes for years to come.

When it comes to retirement planning, most people focus on two main phases: the accumulation phase and the decumulation phase. Folks want to know how much they need to save and how to allocate their investments. Then, once they retire, they want to ensure their investments generate steady income and that it’s done in a tax-efficient manner. However, there are some less obvious “success taxes” that retirees might face due to their sizable asset base. These include required minimum distributions (RMDs) , which can push them into higher tax brackets, and Medicare’s IRMAA  surcharges that kick in during years of high income. The good news is these challenges can be managed with proper planning — the key is having a financial advisor who brings these issues to your attention before they sneak up on you. One often-overlooked area in retirement planning is the so-called widow's trap , also known as the widow penalty. It tends to fall between traditional retirement planning and long-term survivor planning, and it’s a hidden financial risk that affects the surviving spouse. When couples file jointly, they benefit from a higher standard deduction and wider tax brackets. However, if one spouse passes away unexpectedly, the surviving spouse faces lower tax brackets and a smaller standard deduction. This often means higher taxes on less income for the survivor. And it’s not just retirees who are affected. Even younger couples in the accumulation phase can feel the widow's trap. Take John and Jane, a couple in their 30s who make $140,000 together. Filing jointly, they pay taxes at a lower rate—around 12% and get a standard deduction of roughly $31,500. But if John passes away, Jane must file as a single taxpayer. Her income drops to about $105,000, but with narrower tax brackets and a lower standard deduction, she could be pushed into a higher tax bracket and end up paying more taxes despite earning less. For someone like Jane, it’s crucial to update paycheck withholdings and work with a CPA to ensure she’s filing correctly—potentially as Head of Household to reduce her tax burden. For retirees who are fortunate enough to live long lives, it’s essential to think ahead. Good planning can soften the blow of the widow trap. Here are some smart strategies to consider: Tax Diversification of Retirement Accounts Having a mix of traditional tax-deferred, Roth (tax-free), and taxable accounts gives you flexibility to withdraw funds in the most tax-efficient way during retirement. Strategic Roth Conversions While Married One major source of pain from the widow trap comes from RMDs, which can push you into higher tax brackets once you hit the required withdrawal age. If a spouse passes, tax brackets get narrower, and your tax bill can jump. By converting some traditional retirement dollars to a Roth IRA while you're still married (and in a lower tax bracket), you reduce your future RMDs and create a pool of tax-free income. Qualified Charitable Distributions (QCDs) If your RMDs exceed what you need for living expenses, consider directing those distributions straight to a qualified charity through a QCD . This helps satisfy RMD requirements without adding taxable income.  QCDs are available at the account holder’s age of 70 ½. Asset Location Position tax-inefficient assets—such as bonds and actively managed funds that generate taxable income—inside tax-deferred accounts like IRAs or 401(k)s. Meanwhile, hold tax-efficient assets—like appreciating stocks, index funds, and municipal bonds—in taxable accounts. This approach leverages the step-up in basis at death, helping to minimize future tax burdens and enhance after-tax returns, thereby preserving wealth over time. Effective asset location is a key tax strategy for maximizing retirement income and reducing the impact of the widow's trap. If you have questions about how the widow trap might affect your financial situation or would like help planning to avoid it, our experienced advisors   are here to assist you. Feel free to reach out to one of our team members for personalized guidance and strategies tailored to your unique needs. Planning ahead can make all the difference.

There is a new kind of retiree emerging—what we might call the Everyday Millionaire , Generation 2.0. These are men and women who didn’t stumble into wealth. They were raised—often quite literally—on God’s wisdom and Grandma’s advice, later reinforced by decades of Dave Ramsey’s teaching. They avoided consumer debt, bought homes they could afford, saved faithfully, and committed to investing 15% of their income  year after year. As we saw in the Ben & Arthur  example, that discipline almost always leads to more than enough . And because they paired wise saving with good financial planning and thoughtful tax strategy , many in this group will not only retire securely—they will be able to retire early, if they choose. But that raises an important question: What does “early retirement” even mean? Social Security calls full retirement age 67. Medicare opens the door at 65. Your retirement accounts remove penalties at 59½. So there is no single, universal retirement age. For the purposes of this chapter, we’ll define early retirement as leaving the workforce before  age 59½, when retirement accounts normally become accessible without penalty. That’s where the anxiety often sets in. “If I retire at 55 or 56, am I locked out of my retirement money?”“Do I have to rely only on a bridge account?” The encouraging answer is no. There are two well-established, IRS-approved ways to access retirement funds early without paying the 10% penalty— if  you follow the rules carefully: Rule of 72(t)  – also known as SEPP (Substantially Equal Periodic Payments) Rule of 55  – specific to employer retirement plans Let’s walk through each. The Rule of 72(t): Turning Retirement Savings into an Early Paycheck The Rule of 72(t) is part of the tax code that allows you to take penalty-free distributions from a retirement account before  age 59½, as long as those withdrawals follow a very specific structure called a SEPP plan. Think of this as voluntarily turning part of your retirement account into a temporary pension. How a SEPP Plan Works Under a 72(t) plan: You take substantially equal periodic payments Payments must continue for at least 5 years, or  until you reach age 59½—whichever is longer Payments can be taken monthly, quarterly, or annually Once started, the plan is largely locked in If you follow the rules precisely, the IRS waives the 10% early withdrawal penalty. However—this is important—the withdrawals are still taxed as ordinary income, so tax planning on these distributions is still important. One Account at a Time A SEPP plan applies to one retirement account at a time. That’s actually a feature, not a bug. For example, someone who has $2 million of retirement savings could put $1,000,000 in a 72(t) IRA where they are largely locked into their distribution strategy, whereas the remaning $1,000,000 could be put into a separate IRA where the distributions would be free of the rule of 72(t), giving additional flexibility if needed. It allows careful planners to: Isolate a portion of assets for income Leave the rest invested for long-term growth Maintain flexibility elsewhere in the plan The Three IRS-Approved Calculation Methods The IRS allows three primary ways to calculate your 72(t) distribution. Each produces a different income level. 1. Required Minimum Distribution (RMD) Method Based solely on IRS life expectancy tables Payment recalculates every year Generally produces the lowest income This method often appeals to those who want maximum preservation of retirement assets while drawing a modest income. 2. Fixed Amortization Method Uses life expectancy and an interest rate Produces a fixed payment every year Usually results in higher income than RMD This is often chosen when predictable, paycheck-like income is the goal. 3. Fixed Annuitization Method Uses IRS mortality tables and an interest rate Payments remain fixed Income typically falls between RMD and amortization Each method has trade-offs, and the “best” option depends on your cash-flow needs, tax situation, and long-term plan. A Real-World Example Let’s look at a hypothetical 55-year-old with $500,000 in a retirement account. Depending on the method used, annual income could range roughly from: $11,000–$16,000  (RMD method) $24,000–$28,000  (Fixed amortization) That’s meaningful income—without penalties—created from savings you already built. The Strengths—and Serious Commitments—of 72(t) Advantages Avoids the 10% penalty Creates predictable income Can serve as a bridge to Social Security or other benefits Offers some customization at the start Disadvantages Inflexible once started Payments generally cannot be changed or stopped No additional withdrawals allowed Reduces long-term compounding if not planned carefully This is not a strategy to “try out.”It is a strategy to commit to—with professional guidance . The Rule of 55: A Simpler Path for Workplace Plans The Rule of 55 is often overlooked, but for the right person, it is beautifully simple. If you separate from service in the year you turn 55 or later, you may take penalty-free withdrawals from that employer’s retirement plan—typically a 401(k) or 403(b). Key Distinction ✅ Applies to employer plans ❌ Does not apply to IRAs ❌ Does not apply if funds are rolled into an IRA In other words, where your money is located matters. Important Considerations with the Rule of 55 Some plans do not allow partial withdrawals Roth 401(k) earnings may still face taxes if the 5-year rule isn’t met Funds must stay in the former employer’s plan Withdrawals reduce future growth—so moderation matters Susie’s Story: Early Retirement with Purpose Susie spent 32 years in corporate America, faithfully following Baby Step 4. By her early 50s, she had built a $2 million 401(k). As she approached age 55, she felt called to step into ministry work at a local pregnancy center. Here’s how the Rule of 55 helped: Susie retired in the year she turned 55 Because of that timing, she could access her 401(k) if needed She later contributed to the Pregnancy Center's 403(b) up to their modest 3% match When she retired again at age 58, the 403(b) account also became accessible under the Rule of 55 She never rolled her funds into an IRA—and that choice preserved her flexibility. That’s not luck. That’s planning. Bringing It All Together Early retirement is not about escaping work. It’s about retiring to something better. For the Everyday Millionaire 2.0, the question isn’t “Can I retire early?” It’s “How do I do it wisely?” The Rule of 72(t) and the Rule of 55 are not loopholes. They are tools—meant to be used carefully, prayerfully, and strategically. When coordinated with: Bridge accounts Roth strategies Tax-aware withdrawal planning And wise counsel They allow faithful stewards to enjoy the fruit of decades of discipline— without fear . “The plans of the diligent lead surely to abundance.”  — Proverbs 21:5 If early retirement is on your horizon, this is where thoughtful planning turns possibility into peace.

It was July 4th, 2025. I happened to be down in Orlando, Florida, near one of our firm’s offices in Lake Nona . As summer nights go in Florida, it was still incredibly warm as I sat by the pool around 10:00 p.m. Fireworks were going off indiscriminately in the distance as people celebrated the 249th birthday of the United States. I had a sparkling water in my hand—my drink of choice—and found myself reflecting on how blessed we are to live in this country, at this moment in time. A moment where, economically and geopolitically, it felt like peace was becoming the new world order. Earlier that day, President Trump had signed something that only months before seemed like a political pipe dream: the One Big Beautiful Bill , finalized and signed on Independence Day. Now, unlike many politicians who simply regurgitate talking points—and unlike the millions who repeat those talking points without doing a single ounce of research—my job as a financial advisor and our co-chief investment officer requires something very different. Research everything. So instead of headlines or opinions, let’s focus on facts—because buried inside this legislation was one of the most meaningful charitable-giving opportunities we’ve seen in years. The Largest Standard Deduction in U.S. History One of the cornerstone provisions of the One Big Beautiful Bill was the extension and enhancement of the standard deduction. For the 2026 tax year, it became the largest standard deduction in U.S. history in nominal dollar terms. What does that actually mean? It means that every American—regardless of income—gets a portion of their income tax-free. Does this benefit someone making a million dollars a year? Sure. Roughly 3% of their income might be tax-free. But for a family earning $100,000 per year? Nearly 30% of their income is effectively tax-free. So who actually benefited more? The answer becomes obvious when you look beyond the rhetoric and into the math. The SALT Deduction Makes a Comeback (Temporarily) To help secure enough votes—particularly from high-tax states—the bill also temporarily expanded the SALT (State and Local Tax) deduction. Previously capped at $10,000, the SALT deduction was temporarily increased to $40,000, subject to income limits. Key details matter here: Duration:  2025 through 2029 (five tax years) Cap Amount: $40,000 in 2025 Adjusted upward by 1% annually $40,400 for the 2026 tax year Married Filing Separately:  Half the limit Reversion:  Scheduled to return to $10,000 for all taxpayers in 2030 This provision played a critical role in getting the legislation across the finish line—but it also created meaningful spillover effects for charitable giving. To understand why, we first need to understand why anyone itemizes deductions at all. Standard Deduction vs. Itemizing For the 2026 tax year, standard deductions are as follows: Married Filing Jointly:  $32,200 Single or Married Filing Separately:  $16,100 Head of Household:  $24,150 There are also additional deductions  available: Age 65 or older / blind (2026): $2,050 for single or head of household $1,650 per qualifying spouse for married filing jointly New Senior Bonus Deduction (2025–2028): $6,000 per eligible taxpayer age 65+ Subject to MAGI thresholds Importantly, that $6,000 senior bonus applies whether you itemize or take the standard deduction. It’s on top of everything else. So the real decision remains: Do I take the standard deduction, or do I itemize? And if you itemize, what actually counts? The Three Itemized Deductions That Matter For most households, itemizing comes down to just three categories: Mortgage Interest: Though many of you reading this have already paid off your mortgage. State and Local Taxes (SALT): Now temporarily more powerful due to the increased cap. Charitable Giving: This is the centerpiece of this chapter—and the only one you truly control. There are a few other itemized deductions, but they’re far less common. Charitable giving is where planning makes a real difference. Johnny and Suzie: Before and After the OBBB Let’s bring this to life. Johnny and Suzie give $20,000 per year to their local church. They also pay $19,000 in state and local taxes. Their mortgage is paid off. Before the OBBB Charitable Giving: $20,000 SALT Deduction: Capped at $10,000 Total Itemized Deductions: $30,000 That’s below the $32,200 standard deduction.They wouldn’t itemize. Their generosity produced no additional tax benefit. After the OBBB Charitable Giving: $20,000 SALT Deduction: $19,000 Total Itemized Deductions: $39,000 Just like that, Johnny and Suzie are itemizing.Their tax return improved instantly on July 4th, 2025. But should they stop there? In our opinion—absolutely not. Enter Baby Step 7… and the Bridge Account Johnny and Suzie have no mortgage. That likely means they’re living in Baby Step 7—living and giving like no one else. Instead of a house payment, they’ve been building a brokerage (or “bridge”) account. Let’s assume it’s worth $50,000: $40,000 in contributions $10,000 in growth Now the question becomes: How do we give more wisely, not just generously? Donor-Advised Funds: The Strategy That Changes Everything A Donor-Advised Fund (DAF) is a charitable account that allows you to: Take an immediate charitable deduction While distributing gifts to charities over time Here’s the key: When you donate appreciated investments to a DAF, you do not realize the capital gain. So Johnny and Suzie contribute their entire $50,000 brokerage account to a Donor-Advised Fund. What happens? They avoid paying capital gains tax on the $10,000 of growth They receive a $50,000 charitable deduction, assuming they don’t meet certain phaseouts They can continue giving monthly to their church from the DAF Their personal budget no longer needs to fund charitable giving during the period of the DAF Those monthly dollars now refill their brokerage account instead They don’t miss out on any market growth, presumably because the DAF remains invested. Over the next two to three years, they rebuild the brokerage account—this time with a $50,000 cost basis, not $40,000. The Power of Bunching Let’s look at the tax impact in the year they fund the DAF: Donor-Advised Fund contribution: $50,000 SALT deduction: $19,000 Annual Giving Before Funding DAF (assuming it was funded in late December): $20,000 Total Itemized Deductions: $89,000 Compare that to the $39,000 they would have otherwise deducted. That’s not clever accounting. That’s intentional stewardship. Yes, there are limits on charitable deductions depending on income and whether you’re donating cash or appreciated assets. That’s why it’s essential to coordinate with a qualified tax professional—like the team at Whitaker-Myers Tax Advisors. But make no mistake: this strategy existed before the One Big Beautiful Bill. The bill simply supercharged it. A Limited Window, A Lasting Impact The expanded SALT deduction is temporary. The planning opportunity is real. And the families who benefit most are the ones already inclined to give. On that warm July night, as fireworks echoed across the Florida sky, it was hard not to feel grateful—not just for the freedoms we enjoy, but for the opportunity to steward wealth wisely, generously, and intentionally. Sometimes the tax code rewards behavior that aligns with good values. And when it does, it’s worth paying attention. God bless America.

Let’s establish the fact that money will have an impact on your most important relationship on earth. You cannot ignore the topic, because one or both spouses will deal with money, either in small or large amounts, virtually every day. This is why the Bible mentions money, wealth, or possessions 2,350 times. God knew the importance and impact of money on people’s lives, so he covers it thoroughly to guide our habits, attitudes, and decisions. Money issues are the #1 cause of divorce, so clearly, this is a topic that couples should take very seriously, both in avoiding problems and making poor decisions, and in proactively making good choices to strengthen their marriage relationship. Financial Benefits of Marriage need to be more emphasized Kaz Nejatian  is a credible and wealthy business leader. He has been a lawyer, worked in government, was the COO of Shopify, and is now the CEO of Opendoor. He is worth well over $100 million, is married with three kids, and says that marriage is a significant factor in his success. He felt passionate enough about it to write a book called: Why Saying “I Do” Might Save Your Life. He says that graduating from high school, securing steady employment, and getting and staying married dramatically increase people’s chances of wealth and health compared to those who do not do all four. The average net worth of a married person who is 35 is 15 times greater than the net worth of a single female and 5 times greater than that of a single male. Additionally, according to Dave Ramsey’s research, the median income for a married 35-year-old male is 26% higher than that of a single 35-year-old male. One obvious financial benefit is a reduction of expenses. Having only one house, utility, furniture, and maintenance bill, rather than two, is a significant benefit. The most significant benefit and compelling statistic from Dave Ramsey’s research is that married men live approximately 9 years longer and women almost 5 years longer than their single counterparts. This is not strictly about money, but given that it is the top reason for divorce, it is reasonable to conclude that financial success in marriage helps extend the relationship's longevity. Tax benefits, such as doubling your standard deduction regardless of whether your spouse works, are financial benefits. On the proactive end of things, you can double the amount that you can put into retirement plans. Related to IRAs, even if your spouse does not work, you can max out a contribution each year, something that you could not do if you were single. Communication: could be a strength, could be a weakness Some of you may be thinking, “I thought communication was the #1 cause of divorce over money”. Technically, both are correct, and multiple sources cite roughly two-thirds of the time that poor communication is a significant factor. The common thread between the two is obviously communication about money, or the lack thereof. As Dave Ramsey often says, “Winning with money is 20% knowledge and 80% behavior,” and this is certainly true when it comes to communicating about money. Whether you are single, engaged, or newlywed, it is a good time to review a detailed budget with your significant other. Another good idea is to track every dollar you spend, regardless of category, for at least 30 days and ideally 60 days, then review the list and discuss it with your significant other. As simple and straightforward as this sounds, it can be eye-opening and help you and your potential spouse, or your new husband or wife, take accountability. If you have been married for several years, this process may be more challenging, but both budgeting and spending accountability can be valuable exercises for your marriage and may help you start fresh to improve your money communication and habits. Yes, some people are willfully ignorant of how much they spend on various items or experiences, but others simply have not been taught to budget and evaluate their spending. Here, effective communication about money is vital, and being honest and understanding of each other, given their different weaknesses, backgrounds, interests, and financial priorities. All stages of life and levels of money require a couple’s attention Many people assume that once they reach a certain age, income, or net worth, the need to communicate or engage in dialogue disappears; this is not true. Sometimes, more problems arise from having too much money than from not having enough. The issues change, and what frustrates us does as well, but because we interact with money so often, money frequently causes problems. The repeated phrases of “It doesn’t cost that much money”, “It’s only a little bit of debt , I should be able to pay it off soon”, “Investing such a small amount of money won’t get me anywhere, what’s the point” are common to hear and creep into our thinking. Regardless of your age or stage in life, avoid these phrases and attitudes in your marriage. Obviously, the sooner you adopt a winning financial attitude and practice good stewardship, the better. In Matthew 25, when Jesus tells the Parable of the Talents, he describes 2 servants (employees) who have been given money to manage and ideally grow it. After the master checks in with the servants and hears they have doubled the allocated small amount of money, he responds with “Well done, good and faithful servant. You have been faithful and trustworthy over a little; I will put you in charge of many things.” So, if you are thinking that you will spend everything you get as soon as you get it, then you’ll start paying attention to money and pursue investing when you finally have a “decent” amount, you are setting yourself up for failure, and likely will retain that mindset even after your income and opportunities have grown. Finally: How do I make money more of a strength than a struggle in marriage As with many other topics we discuss in marriage, there will be nuances and minor differences within the context of a core belief or principle we follow. Money definitely falls into this category, and it is wise for a husband and wife to adhere to the main point and give each other grace and understanding of minor ongoing differences. For instance, a core principle for all marriages to apply to money is to get and stay out of all consumer debt  and save and invest something every month, even if it is a small amount. Then, within those parameters, have some give-and-take on how to allocate funds and what to prioritize. If both of you are committed to the core principle, disagreements and differing perspectives should be workable without causing major problems or leading to divorce. If a husband and wife are on the same page about avoiding all debt beyond a reasonable, affordable house and saving and investing every month, then it becomes fun and satisfying to achieve financial goals. Then responsibly using money to take vacations, give your children memorable experiences, put in the long-desired hot tub, etc., can foster a sense of teamwork and a shared blessing, and a byproduct of working together with your money. Seeing yours or your spouse’s IRA or 401(k) hit the 6-figure mark for the first time, even when neither of you has ever made 6 figures, can be a very rewarding and encouraging experience for you to stay the course with working together as a couple to apply good money habits.  Then, transitioning to retirement should be a smoother process if sound, agreed-upon financial principles are in place, and a comfortable nest egg is a mutually satisfying accomplishment that provides more opportunities for you to enjoy as a couple. Lastly, regarding communication, it is vital to apply these principles at every stage of your marriage and to communicate them to your children. As you have seen the importance of good money habits and effective communication, pass that knowledge on to your children so they are prepared to manage their finances wisely as they eventually marry and start a family.

The Whitaker-Myers Group is pleased to announce a second recent acquisition by Whitaker-Myers Tax Advisors : Goude Tax , led by Starr Goude, Enrolled Agent with the Internal Revenue Service. This acquisition represents a thoughtful and values-aligned transition—one that prioritizes client continuity, legacy, and long-term stewardship. Honoring a Legacy Built Since 1996 Starr Goude has been enrolled to practice before the IRS as an Enrolled Agent since 1996 and has faithfully served individuals and families for nearly three decades. Goude Tax itself was originally founded by Starr’s father-in-law, whose expertise focused on the unique and often complex tax needs of U.S. military members. When Starr took over the firm, she carried that legacy forward—continuing to serve military families with care, precision, and deep institutional knowledge. Now residing in Lynn Haven, Florida, Starr is the proud mother of three children and grandmother of four. As she begins planning her transition to retirement, Starr sees Whitaker-Myers Tax Advisors as the right long-term home for her clients—one where relationships are honored and service standards remain uncompromising. Starr will continue to maintain many of her client relationships for the foreseeable future, ensuring a smooth, relational transition and ongoing familiarity for those she has served faithfully since 1996. A Natural Fit with Whitaker-Myers’ National Military Focus Goude Tax is a particularly strong fit for Whitaker-Myers Group due to the firm’s nationwide work with Dave Ramsey listeners and SmartVestor Pro clients, many of whom are active-duty military members, veterans, and military families. These households often face complex tax considerations related to deployments, housing allowances, state residency, and retirement benefits—areas where Starr and her firm bring decades of practical expertise. “Starr Goude represents exactly the kind of professional we want joining our team—experienced, client-centered, and deeply committed to stewardship,” said Kage Rush , President of Whitaker-Myers Tax Advisors . “This acquisition allows Starr to thoughtfully transition toward retirement while ensuring her clients continue to receive the same level of care and personal attention they’ve trusted for years.” The Value of Tax and Financial Planning on the Same Team As with all Whitaker-Myers acquisitions, this partnership reflects a broader belief: clients benefit most when their tax professional and financial planner work together. Coordinated planning can uncover opportunities in retirement strategy, charitable giving, tax-efficient investing, and long-term legacy planning that are often missed when advisors operate in silos. John-Mark Young , President of Whitaker-Myers Wealth Managers , shared: “Many of our military and Dave Ramsey–aligned clients want simplicity, clarity, and confidence. When your Enrolled Agent and CFP® professional are on the same team, planning becomes proactive instead of reactive—and families are better served over the long run.” A Warm Welcome to Goude Tax Clients Whitaker-Myers Group warmly welcomes all Goude Tax clients into the Whitaker-Myers family. For those who would like to explore how integrated tax planning and financial planning can work together to support their goals, clients are encouraged to contact any member of the Whitaker-Myers team at NationalSmartVestorPro@whitakerwealth.com . With roots dating back to 1869, Whitaker-Myers Group remains committed to serving families across generations—honoring legacies like Starr Goude’s while building a future defined by thoughtful transitions, coordinated advice, and enduring relationships.

The Whitaker‑Myers Group is proud to announce the acquisition of John Mosca CPA, PC , located at 1 Mallett Way in Bluffton, South Carolina. This strategic addition strengthens the Group’s integrated tax, wealth management, insurance, and benefits platform while deepening its commitment to long-standing, relationship-driven client service. Whitaker-Myers Group is comprised of Whitaker‑Myers Insurance Agency , Whitaker‑Myers Benefit Plans, Whitaker‑Myers Wealth Managers , and Whitaker‑Myers Tax Advisors . The addition of John Mosca, CPA, PC, meaningfully expands Whitaker-Myers Tax Advisors’ and Wealth Managers' footprint in the Lowcountry and reinforces the Group’s long-term vision of delivering coordinated financial guidance under one roof. Continuity, Familiar Faces, and a Thoughtful Transition Clients can expect continuity and familiarity throughout the transition. John Mosca  will continue working closely with the Whitaker-Myers team throughout 2026, maintaining a few of his long-standing client relationships—mainly those he has historically served out of New York City. In addition, John’s employee Gabriel Reyes , who recently earned his Enrolled Agent (EA) designation with the IRS, will be joining Whitaker-Myers Tax Advisors—bringing deep knowledge of the client base and a shared commitment to service excellence. To further support clients in the region, David Gearhart , Associate Advisor with Whitaker-Myers Wealth Managers and an Enrolled Agent (EA) with the IRS, has relocated to the Bluffton area. David will help serve existing wealth management clients while assisting John Mosca CPA clients who are interested in transitioning their financial planning and investment management to Whitaker-Myers’ team of CFP® professionals, including John‑Mark Young , Logan Doup ,  and Timothy Hilterman . The Power of Integrated Tax and Financial Planning One of the defining strengths of the Whitaker-Myers model is genuine collaboration between tax and wealth management professionals. When your CPA and financial planner are on the same team, opportunities don’t get missed—Roth conversion planning, retirement income strategies, charitable giving, estate coordination, and proactive tax planning all work together seamlessly. “As CPAs, we see firsthand how decisions made in isolation can create unnecessary tax consequences,” said Kage Rush , President of Whitaker-Myers Tax Advisors. “Bringing John Mosca CPA, PC into our firm allows us to elevate the client experience by aligning tax strategy with long-term financial planning—intentionally and proactively, not reactively.” John‑Mark Young , President of Whitaker-Myers Wealth Managers, added: “Our clients benefit most when planning is coordinated. When tax professionals and CFP® practitioners are working side by side, clients gain clarity, confidence, and better outcomes. This acquisition reflects our belief that families deserve a team—not a collection of disconnected advisors.” A Legacy of Multi-Generational Service Whitaker-Myers Group has served families since 1869, helping multiple generations navigate changing financial landscapes with wisdom, stewardship, and care. That long-term mindset aligns naturally with the relationships John Mosca has built over decades—relationships Whitaker-Myers is honored to continue. “We warmly welcome the John Mosca CPA clients into the Whitaker-Myers family,” Young added. “Our goal is not just to serve you well today, but to walk alongside your children and grandchildren for generations to come.” Looking Ahead in Bluffton The Bluffton office at 1 Mallett Way will soon be rebranded as Whitaker-Myers Group, reflecting the expanded services now available to clients. A client appreciation and introduction event is being planned for March 2026, allowing clients to meet the broader Whitaker-Myers team before the close of tax season. As Whitaker-Myers Group continues to grow thoughtfully and strategically, its mission remains unchanged: to provide integrated, values-driven financial guidance that helps families plan wisely, reduce complexity, and move confidently into the future.

As families prepare to expand their financial strategy toolkits in 2026 and beyond , a brand-new investment vehicle is entering the landscape: Trump Accounts . Designed to give children a head start on long-term saving and investment growth, these accounts blend features of traditional retirement accounts with a focus on early financial empowerment. Inevitably, this may complicate the savings landscape for what and how to save for your children. Many people thought it was confusing when they have to choose between putting money in a brokerage account in their own name, with the implied goal of having this money benefit my children, putting money into a state sponsored 529 plan thereby earmarking the funds for some educational endevor (or perhaps a Roth contribution later in life) or finally the freedom and flexibility of a UTMA , with the limited tax benefits they provide. Now enter the fourth option: Trump Accounts. What Are Trump Accounts? Trump Accounts are federally established, tax-advantaged investment accounts for children under the age of 18. They are crafted to help young Americans build savings through long-term investment in broad U.S. stock market index funds. The initiative officially launches in July 2026, with contributions and access mechanisms rolling out progressively. The goal? Encourage financial literacy and compound growth from an early age, allowing children and families to harness the power of time in the market. In this way, many families never darken the door of a financial planner or never attend something as foundational as Financial Peace University and in this way, these accounts will hopefully begin the process of our government (which is typically not known for it's financial stewarship), filling the gap for some familes of what Proverbs 13:22 tells is actual wealth transition - knowledge! A good man leaves an inheritance to his children's children, but the sinner's wealth is laid up for the righteous. Key Features Explained 1. Tax-Advantaged Growth Money in a Trump Account grows tax-deferred, meaning earnings are not taxed until withdrawal — similar to a traditional retirement account. 2. Federal Seed Contribution Eligible children receive a one-time $1,000 contribution from the U.S. Treasury, provided the account is opened before the year they turn 18, and they were born between January 1, 2025, and December 31, 2028. This $1,000 does not  count toward annual contribution limits. 3. Contribution Flexibility Family members, friends, employers, and even corporations or nonprofits can contribute: Up to $5,000 per year per child  from personal sources (indexed for inflation after 2027). Employers may contribute up to $2,500 annually  for a child through cafeteria or benefit plans — excluded from employee taxable income . Qualified organizations and government entities can make additional contributions that do not count against  the $5,000 limit. 4. Investment Requirements By law, contributions must be invested in broad U.S. equity index funds (for example, S&P 500-type funds ) with low fees (typically no more than 0.10%). This focus on diversified, long-term market exposure is intended to support growth over the years. Frequently Asked Questions (FAQ Highlights - These can be found on trumpaccounts.gov Here are the key points from the frequently asked sections that you should understand about Trump Accounts. Who Is Eligible? Any U.S. child under 18 with a valid Social Security number can have a Trump Account established on their behalf. Parents or guardians set up the account and act as custodians until the child reaches adulthood. When Can Funds Be Used? Funds generally cannot be withdrawn until age 18. After that point, the account operates similarly to a traditional IRA: Contributions can continue (subject to IRA rules and earned income requirements). Withdrawals follow traditional IRA taxation and penalty rules, including potential early withdrawal taxes if taken before age 59½. Certain exceptions (like higher education or first-home purchase) may reduce penalties for qualified expenses. How Do I Open an Account? Initially, a Trump Account can be elected when filing IRS Form 4547 with your 2025 tax return. Starting in mid-2026, families can also open accounts via the online portal at trumpaccounts.gov . After making the election, Treasury or its agent will guide activation and setup with a financial institution. One basic piece of advice to make sure you are in the know of any changes or updates that may take place with Trump Accounts would be to go to their website https://trumpaccounts.gov/ and put your email address in their "Email me updates" section, which, as of today, is currently right at the top of the website. By the way, speaking of their website, one thing President Trump understands is messaging and marketing, and isn't this website beautiful? The founder of Airbnb, through the work of the national design studio, put this website together, and it doesn't look like a government website (and trust me, I have spent lots of time on the Social Security, IRS, and other government websites). Great job Joe Gebbia! Can I Use My Preferred Brokerage like Schwab, Fidelity, or Betterment ? Trump Accounts begin with the Treasury’s designated financial agent. At a later stage, parents or guardians will have the option to transfer the full account balance to a preferred brokerage firm via a trustee-to-trustee rollover. Who Else Can Contribute? Beyond family contributions, grandparents, friends, employers, and philanthropies can participate. In workplace plans, employer contributions up to certain limits may even be tax-favored. Perhaps be on the lookout for the potential for your employer to add this benefit to their employee benefit plans starting realistically in 2027 and beyond. What This Means for Families Trump Accounts represent a forward-looking mechanism to embed long-term investing habits in young Americans’ financial lives. The combination of a government seed contribution, tax-deferred growth, and broad market exposure sets the stage for meaningful compounding over decades. Families who take proactive steps early—especially by understanding contribution limits and rollover options—can play a pivotal role in building generational wealth. As your financial professional , Whitaker-Myers Wealth Managers will continue to stay out in front of any news on Trump Accounts, and we will begin to integrate Trump Accounts into holistic planning conversations, comparing them with 529 plans, custodial accounts (UTMA), and retirement strategies to choose the most aligned path for your family's goals.

Basic Insurance In addition to health, home, umbrella, and auto insurance, each family and most individuals should consider a few other types of insurance to protect their assets and overall financial plan. Planning for the unexpected is important, and insurance serves that purpose. It's a safety net that provides relief in times of crisis, ensuring your financial plan stays on track. It's not an investment that grows over time; it's a shield that protects your financial plan from being derailed, provides peace of mind, and reduces the burden of unexpected events. Here are a few additional types of insurance to consider for yourself and your family.   Life Insurance Life insurance is a must for individuals who have people who depend on their income or even their non-income support to get by day to day. And even if you are single, you might consider a policy that will at least cover your funeral expenses vs. leaving it to your family/friends to figure out and arrange when already dealing with grief.   Among the various life insurance options, term life insurance  stands out for its affordability and suitability for most individuals. Other types, such as whole life or universal life, often come with a higher price tag for the coverage they offer.   Several factors, including age, health, coverage amount, term length, and occupation, influence the cost of life insurance. A common guideline is to choose a policy with a death benefit of ten to twelve times your household income. As the Ramsey Solutions Team  suggests, stay-at-home parents should also consider a policy covering child care and home care costs, somewhere between $250,000 to $400,000.   As far as length of term goes, consider a 15 to 20-year policy. Life insurance is only necessary when someone depends on one’s income to go about their daily life. Eventually, children grow up and move out, and this should be enough time to build wealth and become self-insured.   Lastly, life insurance costs continue to increase, so getting covered sooner rather than later will save money. Locking into a level-term policy will ensure the price does not change for the policy's full term. The need for an additional policy may occur as income goes up. In that case, adding extra coverage is possible with an additional policy.   Long-Term Disability Insurance Long-term disability insurance  is also a must-have for working adults. Becoming disabled and unable to work for a prolonged period can be devastating to a family. The Social Security Administration claims that “About 1 in 4 of today’s 20-year-olds will become disabled and entitled to Social Security disabled worker benefits before reaching age 67, and 65% of the private sector workforce has no long-term disability insurance.” - SSA.gov     That is a crazy statistic and furthers the need for long-term disability insurance. You can get Social Security Disability, but that can take a long time. First, you need to be approved for the government benefit, and then, if you are approved, you must wait five months before you can get your first payment.   Having a long-term insurance policy can bridge that gap. A common question is, “Should I have short-term disability too?” Short-term benefits last between three to six months, depending on the coverage. That is also how long it takes for long-term policies to start. Planning correctly can avoid the need for short-term disability insurance if you have a fully funded three to six-month emergency fund .   The cost of long-term disability is typically 1-3% of your income. Even if you have a relatively safe job, that does not eliminate the need for coverage. However, it can help lower the cost.   Identity Theft Protection With the rise of AI and technology in general, protecting your identity is more critical now than ever. Millions of people are victims of identity theft  every year, and that number is growing. In 2023, 5.7 million identity theft cases were reported to the Federal Trade Commission (FTC), and identity theft cases have almost tripled in the last decade. – FTC Stats   The cost of identity theft protection varies, but finding an affordable policy with a quick internet search is easy. Here are a few easy ways to avoid becoming the victim of identity theft: Beware of phishing emails or spam calls. Do not give away your social security number unless you know it is safe to do so. Watch for mail or packages and get them promptly when they arrive. Shred documents with sensitive information. Use strong passwords or a password generator  for online accounts. Do not use easy-to-guess security questions. Always use two-factor authentication. Do not use public wi-fi to check your bank account or other sites with sensitive information. Add alerts to your credit cards and bank account.   Where to look These additional types of insurance can be a lifesaver when one least expects it. This article is meant for general informational purposes and should not be taken as advice. Several of our agents at Whitaker-Myers Group  are licensed in multiple states and would be happy to discuss in more detail these insurance products or any other type of insurance you are looking for.     If you would like to talk to someone about how these could benefit your financial plan, we suggest contacting your advisor. If you do not have an advisor, Whitaker-Myers Wealth Managers has a team of advisors  ready to help answer your questions.

Every year, the IRS makes adjustments to retirement account limits. Some years, they barely move. Other years, like 2026, they give you more room to build wealth. If you’re serious about winning with money and investing consistently for retirement, these changes matter as they might mean your Baby Step 4 calculations could and should be adjusted. Along with the IRS adjustments, your employer may be adjusting your salary to start the year, and that also necessitates a review of what and where you should be saving money towards retirement. Let’s break them down in plain language. 2026 IRA and Roth IRA Contribution Limits For 2026, the IRA and Roth IRA contribution limit increases to $7,500. That’s up from $7,000 last year. If you’re age 50 or older, the catch-up contribution also increases, from $1,000 to $1,100, bringing your total to $8,600. This is a big deal for disciplined investors. But there’s a catch. If you’re contributing monthly, weekly, or biweekly, you may need to adjust your automatic deposits to actually hit the new limit. Otherwise, you’ll leave money on the table. This is one of those “set it and forget it” moments that deserves a second look. Roth IRA Income Limits for 2026 Roth IRAs are a favorite for a reason. You pay taxes now, then your money grows and comes out tax-free in retirement. That’s a win. But Roth IRAs come with income limits. Here’s how they break down: Full Roth IRA Contributions Single filers:  Less than $150,000 Married filing jointly:  Less than $236,000 Partial Roth IRA Contributions Single filers:  $150,000 to less than $165,000 Married filing jointly:  $236,000 to less than $246,000 No Roth IRA Eligibility Single filers:  $165,000 or more Married filing jointly:  $246,000 or more If you’re over the limit, don’t panic. You still have options, such as the backdoor Roth IRA . Make sure to talk to your Financial Advisor about your eligibility to consider a backdoor Roth. Traditional IRA Deduction Limits for 2026 Even if you can’t contribute to a Roth IRA, you may still be able to deduct a traditional IRA contribution. The rules depend on whether you or your spouse are covered by a retirement plan at work. If You ARE Covered by a Retirement Plan at Work Single filers $81,000 or less: Full deduction $81,000 to less than $91,000: Partial deduction $91,000 or more: No deduction Married filing jointly $129,000 or less: Full deduction $129,000 to less than $149,000: Partial deduction $149,000 or more: No deduction Married filing separately Less than $10,000: Partial deduction $10,000 or more: No deduction If You Are NOT Covered by a Retirement Plan at Work Single, head of household, or qualifying widow(er) Any income level: Full deduction Married filing jointly Spouse not covered at work: Full deduction at any income Spouse covered at work: $242,000 or less: Full deduction $242,000 to less than $252,000: Partial deduction $252,000 or more: No deduction Married filing separately Less than $10,000: Partial deduction $10,000 or more: No deduction (Source: Internal Revenue Service, November 13, 2025) Don’t Forget Your Workplace Retirement Accounts IRAs are important, but Dave Ramsey teaches that your best wealth-building tool is consistent investing over time , especially inside tax-advantaged accounts. Here’s what changed for 2026: 401(k) contribution limit:  $24,500 (up from $23,500) Age 50+ catch-up:  $8,000 (total $32,500) Super Catch-Up (Ages 60–63) If your plan allows it, the catch-up jumps to $11,250, allowing total contributions of $35,750. The maximum total 401(k) amount, including employer match and after-tax contributions (what is called the Mega Back Door Roth) if your plan allows them, is $72,000. SIMPLE IRA Limits Contribution limit: $17,000 Age 50+ catch-up: $4,000 The Real Takeaway Limits going up don’t automatically grow your wealth. Intentional action does. Now is the time to: Review your monthly, weekly or biweekly contributions Make sure you’re on track to max out when possible Confirm you’re using the correct account for your situation At Whitaker-Myers Wealth Managers, we believe in simple, proven principles: live on less than you make, stay out of debt, and invest consistently for the long term, as taught by God, grandma, and our friend Dave Ramsey . If you’re not sure how these new limits fit into your plan, that’s precisely the kind of question your Whitaker-Myers Wealth Managers Financial Advisor will help you answer.

Most people know the basics of IRAs and HSAs . Very few know that, under the right conditions, you can move money from one to the other. Tax-free. It’s called a one-time IRA-to-HSA rollover, and for someone with a large IRA balance in their early 60s, it can be a small but powerful planning move. Even many advisors aren’t familiar with it. As a Financial Advisor who also owns and operates a tax practice, we constantly consider lifetime tax liabilities. The most basic, lay-up approach to handling lifetime taxes for retirement is to save in a Roth IRA and a brokerage account as part of your Baby Step 4 journey. Then, dealing with Roth conversions during those pivotal pre-RMD years from retirement to 73-75 (depending on when your RMDs start ). But this can also be a tool, useful especially if you're not completely leveraging your HSA to its maximum savings potential each year. Here’s how it works, who it’s for, and when it makes sense. What Is a One-Time IRA-to-HSA Rollover? If you are: Covered by an HSA-eligible high-deductible health plan, and Not yet enrolled in Medicare You are allowed to make a one-time, tax-free transfer from your IRA directly into your HSA. This is not a withdrawal.The money moves trustee-to-trustee, never touches your checking account, and does not show up as taxable income. In simple terms, you’re taking tax-deferred IRA dollars and repositioning them so they can eventually come out completely tax-free when used for qualified medical expenses. How Much Can You Transfer? The rollover amount is limited by your HSA contribution limit for the year. For 2026 , the HSA contribution limits are: $4,400  for self-only coverage $8,750  for family coverage If you are age 55 or older , you can add a $1,000 catch-up , bringing the maximums to: $5,400  (self-only) $9,750  (family) Important detail:The rollover uses up your HSA contribution room for that year. You also can’t contribute new cash on top of it. The 12-Month Rule (This Part Matters) After completing the rollover, you must remain HSA-eligible for the next 12 months. If you enroll in Medicare or lose HSA eligibility during that period: The rollover becomes taxable A penalty applies This is why timing is critical. For someone planning to enroll in Medicare soon, this strategy may not fit. For someone in their early 60s with a few years before Medicare, it often does. Why This Can Be So Valuable Think about what you’re really doing. IRA money is tax-deferred, not tax-free HSAs, when used correctly, are triple tax-advantaged Deductible going in Tax-deferred growth Tax-free coming out for medical expenses For retirees, healthcare is one of the largest and most predictable costs. This strategy creates tax-free dollars specifically earmarked for those expenses. It also reduces future required minimum distributions (RMDs) by shrinking your IRA balance, which can help with taxes later in retirement. A Long-Term Care Example Here’s a simple illustration. Assume: Age 60 Family HSA coverage $9,750 rolled from an IRA into an HSA Invested and averaging 8% annually By age 85, that single rollover could grow to approximately: $71,566 That’s money available tax-free for healthcare costs at the stage of life when long-term care and medical expenses are most likely to occur. This isn’t a silver bullet. But it is meaningful. Helpful Scenarios to Consider Scenario 1: Large IRA, Modest Tax Savings Today You don’t need the IRA money now, and you don’t mind giving up a deduction today (assuming you were contributing salary dollars into the HSA) in exchange for future tax-free healthcare dollars. This is often a good fit. Scenario 2: Early 60s, Medicare Is Still a Few Years Away You have enough runway to satisfy the 12-month rule comfortably. Timing works in your favor. Scenario 3: Concerned About Future RMDs Even a small reduction in IRA balances can help manage taxes later. This strategy quietly moves money out of the RMD system. Scenario 4: Planning for Healthcare and Long-Term Care You expect healthcare to be a major retirement expense and want dollars specifically set aside for that purpose. One More Key Detail: How Your HSA Is Invested This strategy works best when the HSA is invested , not sitting in a bank account earning almost nothing. Not all HSAs allow proper investment options. Some limit choices or require large cash balances before investing. If your HSA can’t be invested effectively, the long-term benefit drops significantly. The Bottom Line The one-time IRA-to-HSA rollover isn’t flashy. It won’t change your retirement overnight. But for the right person, at the right time, it quietly converts tax-deferred dollars into tax-free money, reduces future RMDs, and creates flexibility for healthcare and long-term care costs. Those are real benefits. The key is understanding the rules, the timing, and whether your HSA is set up to make the strategy worthwhile. If you’re in your early 60s with a large IRA balance, this is a conversation worth having with your Whitaker-Myers Wealth Managers Financial Advisor .

We are proud to share that John-Mark Young has officially earned his Enrolled Agent designation. This is the highest credential awarded by the IRS, and it reflects a deep commitment to tax knowledge, accuracy, and client advocacy. With this designation, John-Mark can now represent clients before the IRS, prepare and file tax returns at the highest professional standard, and provide the informed guidance our clients rely on. Even more important, it strengthens the connection between our tax practice and Whitaker-Myers Wealth Managers' broader mission of holistic financial planning. John-Mark’s work has always centered on helping clients make confident, well-informed decisions. As an Enrolled Agent, he is now equipped to deliver even more value, ensuring that tax strategy, financial planning, and long-term goals all work together. Please join us in congratulating John-Mark on this achievement. His dedication raises the bar for our team and enhances the experience we strive to provide for every client at Whitaker-Myers Wealth Managers and Whitaker-Myers Tax Advisors .