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Important Tax Tips for HFC Clients!


Attention Clients!

Hello! I have so much information this month, there is room for only one picture! Asher and I did a father-son weekend at Daytona in February for the 24-hour Rolex IMSA race! Think of it as “Ford vs. Ferrari!”


IMPORTANT INFO FOR HFC CLIENTS!


2022 Tax Filing is Near

If you are trying to make sure you have your correct 2022 Tax Documents in order, You’re Not Alone! If you are unsure, send us an email or give Stephen or me a call to verify what you should be on the lookout for.

Some general HFC client tips:

  • If you have an account like Allianz, American –Equity, American Funds (just to name a few), 2022 Tax Documents will be from the same company just as in past tax years.

  • If you are a client that previously had accounts with Pershing and/or PlanMember, you will have 2022 Tax Forms from these companies. This will be the last tax year you will receive tax forms from them.

  • If you currently have NFS-Fidelity or Schwab and either had a 2022 IRA withdraw or a 2022 Non-Qualified trade/rebalance, then you will receive a 2022, 1099.

SECURE ACT 2.0

At the end of 2022, Congress passed and enacted SECURE ACT 2.0. We will have conversations directly with you about how this may affect your specific financial situation, but here are a few general highlights:

  • For current Retirement Plan Contributors, increased deferral and contribution limits to plans like, 401(k), IRA, SIMPLE, SEP

- Enhanced Roth contribution options for 401(k), SIMPLE, SEP plans

- Higher catch-up limits for ages 60-63 starting year 2025

  • Inherited Non-Spouse IRA, ‘10-year Rule’, ‘as-is’

  • On the other end of the spectrum for Distribution Planning

- Updated RMD ages/years

- For those of you turning age 72 in 2023, you will NOT need to start your RMD until age 73, year 2024

- QCD Planning stayed ‘as-is’, age 70 ½+

- Improved RMD provisions for IRA Annuities

  • SECURE ACT 2.0 Reference, ‘Cheat Sheet’:

- https://www.troweprice.com/financial-intermediary/us/en/insights/articles/2023/q1/secure-2-0-act-cheat-sheet.html


Thanks for your relationship. We have some wonderful things we are working on and will be sharing with you throughout 2023. You and Your Family are a Blessing to Us.

-Josh Hebrews 11:1

p.s. Reminder, go to https://www.hattigfinancial.com for the latest Info and Login to Schwab or NFS-Fidelity accounts

















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