Tax Savvy Archives - Charles W. Rawl & Associates, LLC

How the “One Big Beautiful Bill Act” May Affect Your Retirement Income Planning

Impact of this Law on Your Retirement The "One Big Beautiful Bill Act" (OBBBA) was signed into law on July 4, 2025. Many provisions take effect immediately, while others will take effect in 2026. Expanded state and local tax (SALT) limits, bonus depreciation renewals, $6,000 tax deduction for seniors 65 and older¹, and the overtime/tip deduction apply to the 2025 tax year, affecting filings in 2026. Other changes, such as the elimination of the religious exemption and the elevated estate/gift tax thresholds, take effect for the 2026 [...]

By cwrawl|July 21, 2025|Categories: News, Smart Investing|Tags: Income Maximized, Risk Managed, Tax Savvy|

Three Retirement Account Takeaways from OBBBA

By Sarah Brenner, JD Director of Retirement Education On July 4, 2025, President Trump signed into law the “One Big Beautiful Bill Act” (OBBBA). This mammoth domestic policy and tax law is hundreds of pages long and will impact many people in all kinds of ways. What does it mean for your retirement account? Here are three takeaways from the “Big Beautiful Bill”: 1. Rothification will continue. While OBBBA does not include any new Roth account provisions, it is likely that in its wake the trend of “Rothification” will [...]

By cwrawl|July 14, 2025|Categories: IRA Best Practices|Tags: IRAs, Roth IRA, Tax Savvy|

When You Should Name a Trust as IRA Beneficiary

By Sarah Brenner, JD Director of Retirement Education We hear many stories about trusts being named as IRA beneficiaries and the problems that follow. Often, there seems to be no purpose for naming the trust and it brings unnecessary complications. Trusts won’t help with income taxes. In fact, they can increase the tax hit because IRA funds may be subject to high trust tax rates. Naming a trust is not something that should be done without a clear purpose. Here are six good reasons to name a trust as [...]

By cwrawl|June 11, 2025|Categories: IRA Best Practices|Tags: Estate Planning, IRAs, Tax Savvy, Trusts|

Tax Diversification is Key to Achieving a Tax Savvy Retirement Income Plan

A tax-savvy plan contains money in three tax buckets One critical outcome in your retirement income financial planning – on the journey toward a Wonderfully Rich Retirement – is for your plan to become tax savvy. It’s important to manage your taxes each year, and even more important to manage your lifelong taxes. A tax savvy retirement income plan means managing both annual and lifelong tax obligations. It contains money in each of three tax buckets: pre-tax income, such as from your 401(k) account or IRA; after-tax income, [...]

By cwrawl|October 11, 2024|Categories: Smart Investing|Tags: feature, Retirement Planning, Tax Savvy|

Charlie Rawl is keenly focused on helping his clients work toward their retirement dreams through a comprehensive financial strategy. He has distinguished himself throughout his career as a troubleshooter and problem-solver, designing and implementing creative solutions to often-complex challenges.

He has three decades of experience in financial services, encompassing commercial banking, insurance and investment management. This diverse experience gives him an invaluable perspective in conducting detailed analyses and creating state-of-the-art wealth management and retirement income solutions.