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Terwilliger, James

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Mar 20, 2020
The SECURE Act: What You Need to Know
Last December, the SECURE (Setting Every Community Up for Retirement Enhancement) Act of 2019 became a reality. This far-reaching legislation will have a significant impact on everyone who has a 401(k)-or-similar employer retirement plan or IRA.
Mar 20, 2020
Feb 11, 2020
Podcast: Unpacking The SECURE Act - What it is & What it Means for Your Retirement Future
Ask the Experts is a financial forum for education and advice as CNB’s experts answer your questions on financial topics that interest you.
Feb 11, 2020
Nov 21, 2019
How to Use Qualified Charitable Distributions to Achieve a Win-Win
On December 18, 2015, President Obama signed into law the Protecting Americans from Tax Hikes Act of 2015. One provision benefitting seniors that was made “permanent” is the Qualified Charitable Distribution (QCD). I say permanent with tongue-in-cheek, of course, since very little Congress does can ever be considered permanent, particularly when it comes to tax legislation.
Nov 21, 2019
Feb 11, 2019
Podcast: Recent Changes to Income Tax Laws
Ask the Experts is a financial forum for education and advice as CNB’s experts answer your questions on financial topics that interest you.  The experts of this show featured Jason Fitzgerald, CFP®, Senior Vice President, Wealth Advisor
Feb 11, 2019
Dec 18, 2018
Lots of Changes in the New Year
Many of the numbers coming out of Washington that impact our tax and retirement planning lives are different in 2019, just as they tend to be every year.
Dec 18, 2018
Feb 15, 2017
Podcast: Enhancing your Financial Fitness in 2017
The experts of this show featured Jason Fitzgerald, CFP® and Jim Terwilliger, PhD, CFP®, Senior Vice Presidents from the Wealth Strategies Group, Canandaigua National Bank and Trust.
Feb 15, 2017
Jan 10, 2017
Tax Law Changes Impact 2016 Tax-Year Returns

Most of us are gathering 2016 data and getting ready to prepare (or have someone else prepare) our 2016 income taxes. It is important to be mindful of federal legislation that impacts tax returns we’ll be filing soon.

Jan 10, 2017
Aug 31, 2016
Roth Contributions, Roth Conversions - What to Do?
I often say that the Roth IRA, and more-recent Roth 401(k), is one of the greatest gifts bestowed by the US Congress on the American taxpayer. It amazes me that so many folks do not understand its value and, consequently, do not employ it as part of their retirement savings plan. When should the Roth be used?
Aug 31, 2016
Aug 24, 2016
Managing Distributions from Your Retirement Nest Egg
Those of us offering advice in the financial planning world like to identify two primary time periods in our clients’ financial lives: accumulation phase and distribution phase. Here is some insight on how to create a distribution strategy.
Aug 24, 2016
Aug 12, 2016
Tax Law Changes Help Most Folks... Including Retirees

On December 18, 2015, President Obama signed into law the Protecting Americans from Tax Hikes Act of 2015 (PATH Act) and the omnibus fiscal year 2016 budget bill. This legislation addressed many individual and business tax provisions which expired at the end of tax-year 2014. Here is a summary of some of the more-popular personal tax provisions impacted by the legislation.

Aug 12, 2016
Aug 08, 2016
Diversifying Investment Accounts

The media have done a good job emphasizing the importance of diversification with regard to two factors: macro allocation and asset class allocation. However, there’s another very important diversification factor that’s often neglected: diversifying across account types (tax-deferred, taxable, and tax-free).

Aug 08, 2016
Nov 10, 2015
Inheriting Retirement Plan Assets
As I often like to say, “How can something that should be so simple be so complicated”. But, it’s true when it comes to inheriting retirement plans. The rules are many and confusing when managing the associated Required Minimum Distributions (RMDs). The penalty for violating such rules is severe – equal to 50% of the RMD amount.
Nov 10, 2015
Sep 03, 2015
Working Past Age 70

Age 65 tended to be the standard retirement age back a generation or more ago. That was when working for a single company for 40 plus years and receiving a guaranteed lifetime pension during retirement were the norm. My, how

Sep 03, 2015
Jul 15, 2015
Planning for a Successful Retirement

Think back 40 or 50 years. Formulating personal and career goals often led to thoughts about training, education, career, family, community … How to best prepare oneself to achieve these goals? Yet, how many folks give as much thought to

Jul 15, 2015
Mar 04, 2015
11 Years of Retirement-Related Milestones

Remember the days when it seemed like an eternity waiting those 1 2 years until we could drive …or vote …or graduate?Fast forward 40 or more years, and we are faced with a series of new, not nearly as exciting

Mar 04, 2015
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