A Safer Retirement and Environment – What We’re Implementing to Help Keep You Safe: READ MORE

Here at Chadmere Capital Inurance and Financial Services, we are adhering to state and local guidelines in order to protect both the health and safety of clients and staff. Keeping our clients and staff safe is our highest priority and we’re taking all appropriate measures to ensure a safe environment. Should you prefer to not meet face-to-face, we are continuing to serve our clients through virtual settings such as Zoom or phone calls.

We look forward to continuing to help individuals and families achieve their ideal retirements.

Chademere Capital Insurance and Financial Services
(803) 242-1050

CLOSE

DISASTER RELIEF INFORMATION FROM IRS

A lot has changed in the last six months for certain federally declared disaster areas. The Bipartisan Budget Act of 2018 added relief for the California wildfires and mudslides of late 2017. The Disaster Tax Relief and Airport and Airway Extension Act of 2017 included relief for the victims of Hurricanes Harvey, Irma and Maria. The Tax Cuts and Jobs Act of 2017 granted retroactive relief to all federally declared disaster areas in 2016. Where can you find information on all these changes? IRS has put together Publication 976, Disaster Relief. The publication includes information for all three of the above mentioned disaster areas with links to several different websites. It has information on casualty loss deductions, provisions allowing for breaks on distributions from retirement accounts, provisions that apply to relief for employers, a description of affected counties that were declared disaster zones or disaster areas, and the various deadlines that apply to each area. Individuals who meet the requirements for any of the disaster related provisions but were unaware of the new rules, can file an amended return to claim any tax relief that is applicable to them. In addition, Forms 8915A and 8915B and their instructions were released in time for the 2017 tax filing season. There is a lot of information contained in the instructions for these forms. The forms are used to report disaster related qualified disaster retirement plan distributions and their repayments. If an individual met the requirements for a qualified disaster distribution in 2016 or 2017, they can amend their return and file the appropriate form to claim the benefits that were granted for those qualified disaster distributions.

https://www.irahelp.com/slottreport/disaster-relief-information-irs

Ready To Take

THE NEXT STEP?

 

For more information about any of our products and services, schedule a meeting today.

Or give us a call at (803) 242-1050

Investment advisory services offered through Foundations Investment Advisors, LLC (“Foundations”), an SEC registered investment adviser. Nothing on this website constitutes investment, legal or tax advice, nor that any performance data or any recommendation that any particular security, portfolio of securities, transaction, investment or planning strategy is suitable for any specific person. Personal investment advice can only be rendered after the engagement of Foundations, execution of required documentation, and receipt of required disclosures. Investments in securities involve the risk of loss. Any past performance is no guarantee of future results. Advisory services are only offered to clients or prospective clients where Foundations and its advisors are properly licensed or exempted. For more information, please go to https://adviserinfo.sec.gov and search by our firm name or by our CRD #175083.

 ADV Part 2A & Form CRS              Privacy Policy