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Clients who will be turning 70 ½ this year are being advised to PAUSE with regards to taking their Required Minimum Distribution from their IRA for 2019. Clients of this age AND who have an IRA or a 401(k)…
I recently suggested to my son that he open a Roth IRA. Here are the 3 reasons why. 1) He’s Young The Roth IRA offers a huge advantage over a regular IRA. This is particularly so for younger people. …
Roth IRA Eligibility To be eligible for a Roth IRA you need to have earned income. This is typically from wages earned as an employee. Earnings from self-employment also qualify. The annual contribution is the lesser of your earned…
The American Taxpayer Relief Act of 2012 has temporarily extended the ability of certain taxpayers to make charitable donations from their IRA. The Basics Charitably inclined taxpayers over age 70 1/2 can donate up to $100,000 per year from their…
The New Year’s celebrations are over. The New Year’s Resolutions are starting. We’ll see how long they last. Many people feel income taxes are going up. I’m confident they are for the higher income earners.
