Martinson & Beason, P.C.

M&B Attorney Will Pylant Named to Alabama Senior Lawyer-New Lawyer Task Force

Martinson & Beason, PC is pleased to announce that Will Pylant has been named to the Alabama Bar Association’s Senior Lawyer-New Lawyer Task Force for the 2018-2019 Bar year. The Senior Lawyer-New Lawyer Task Force was commissioned in order to “review trends within the legal profession in Alabama with a targeted emphasis upon the challenges inherent upon passing the leadership roles within a law firm to the next generation and offer solutions to meet the identified challenges.” The Task Force reviews demographics of Alabama legal practitioners and in some circumstances may match younger and older lawyers who are planning for retirement.

Mo Show Live with Daniel Kasambira of Heart of the Valley YMCA

The next episode of the Mo Show Live will air Wednesday, September 12^th at 3:00 PM central time and will feature Daniel Kasambira, Executive Directive of the Hogan Family Branch YMCA. Morris and Daniel will be discussing the mission of the YMCA, the organization’s history, and the services it provides to the community. Daniel Kasambira joined the Heart of the Valley YMCA Association as Executive Director of the Hogan Family Branch YMCA in Madison, AL in January 2015. Prior to joining the Heart of the Valley YMCA, Daniel served as Director of Alabama A&M Student Health and Wellness Center in Huntsville, AL from 2010-2014. Previously, he was a Relationship Manager at the United Way of Central, AL from 2007-2010. He has also served as Executive Director of four YMCAs during his non-profit career. During his YMCA career, he has garnered resources in grants, annual and capital campaigns over $3.0 million dollars.

How Will Social Security Affect Your Retirement?

According to a recent CNBC article, Social Security is expected to be a primary source of retirement income for baby boomers—a full 69 percent of baby boomers expect Social Security to be a “major” source of retirement. Within the next ten years, 50 million of those baby boomers will turn 65, causing a major impact on the system. Yet despite the fact that many of these retirees will be extremely dependent on Social Security income, many do not understand the benefits available through Social Security. This lack of knowledge regarding Social Security can result in significant losses of money.

Social Security and Planning Ahead for Your Retirement

Most Americans are unaware that when they begin drawing Social Security can have a huge impact on how much they will receive over their lifetime. An equal amount of those who will draw Social Security are unaware they may have to pay taxes on those benefits. In fact, about 56 percent of Americans do pay taxes on their Social Security benefits, however, Social Security tax treatments are typically more favorable than the tax treatments for traditional IRA or 401(k) withdrawals. Further, there are things you can do now, even if you are only in your thirties, forties or fifties to ensure your retirement years are not fraught with financial difficulties.

Consider a Roth Conversion

While not every person in America is able to contribute to a Roth 401(k) or Roth IRA, some can benefit from a Roth IRA’s tax-free growth potential. Existing money from a traditional IRA or workplace retirement savings account can potentially be converted to a Roth IRA account (a partial Roth conversion). Remember, withdrawals for a Roth account are potentially tax-free. What this means is that you might consider converting only the amount which would bring you to the top of your current federal income tax bracket, as it will be considered taxable income.

Martinson & Beason, PC Welcomes the Lamont Landers Band to Northside Square!

Martinson & Beason, PC is pleased to sponsor the Lamont Landers Band on Thursday, September 6^th at 5:00 PM, as part of Downtown Huntsville, Inc.’s Under the Lights summer music series. The Under the Lights series consists of free live music and fun for all ages every Thursday from July through September. The band will play outside the Martinson & Beason office at 115 Northside Square, Huntsville, AL 35801. Make sure to bring your lawn chair and enjoy the food and drink offered by nearby restaurants and bars! The Lamont Landers Band is currently based out of Nashville, Tennessee, and was recently featured on the Fox TV talent competition Showtime at the Apollo. The band plays an eclectic mix of Soul, Funk, and R&B. Their music is available on iTunes, Spotify, Amazon, and in CD format.

Mo Show Live with Geoffrey Middleton and Nate Klose of TEDxVoyagerWay

The next episode of the Mo Show Live will air Wednesday, August 15th at 3:00 PM central time and will feature Geoffrey Middleton and Nate Klose of TedXVoyagerWay. Morris, Geoffrey, and Nate will be discussing the role of TedXVoyagerWay in our community, the recent events they have hosted, and the types of ideas promoted by TedXVoyagerWay. TED is a national organization that organizes TED conferences and TED talks. TED is devoted to disseminating “Ideas Worth Spreading.” A TED talk is completed in 18 minutes or less. TED talk speakers have included Roger Ebert, Bill Gates, and Sheryl Sandberg, amongst many more well-known thought leaders. TED talks have gained widespread attention thanks to sharing on social media platforms and YouTube.