09 Jan
January 09, 2013

The recently passed American Taxpayer Relief Act of 2012 (ATRA) not only resolved the issue of income tax rates, but also addressed other issues including the extension of the Qualified Charitable Distribution (QCD). This option allowed taxpayers age 70 ½ and older to contribute up to $100,000 of IRA distributions directly from their IRA to charity. It has been available since 2006, but was set to expire on December 31, 2011. The $100,000 could include the taxpayer’s Required Minimum Distribution

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08 Aug
August 08, 2011

We’re not seeing a lot of patriotic arguments about paying taxes these days, so you might want to check out this short cartoon movie, which was funded by the government during World War II. It makes the argument, in an extremely subtle way, that paying high tax rates is actually good for the country: http://www.youtube.com/watch?v=gJ69X1qt4sQ&feature=related. Plus it features Donald Duck…

We’re hearing a lot about taxes in these more modern days, mostly about the need for Congress to

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05 Aug
August 05, 2009

From Employer Retirement Plans

Employees who make (or who have made) after-tax contributions to your employer’s retirement plan, listen up. You can now take that money and convert it to a Roth IRA tax-free.

For 2009, to qualify for a Roth conversion, your adjusted gross income may not exceed $100,000, whether you are single or married. Good news though, the income limit on conversions disappears in 2010. Income limits on new contributions to Roth IRAs,

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22 Jul
July 22, 2009

The decision to waive Required Minimum Distributions (RMDs) for 2009 was made to allow the investments in various retirement accounts the opportunity to recover before selling assets to make RMD withdrawals. This applies not only to tax-deferred retirement accounts like IRAs and 401(k)s, but also to inherited IRAs and Roth IRAs.

Inevitably, changes to the tax code – even temporary ones – can raise some questions. So what exactly does this mean for inherited IRAs/Roth IRAs in

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18 Jan
January 18, 2009

Historically low mortgage rates may prompt you to consider refinancing your mortgage, but yes, it is different this time.

In the old days you would call your local mortgage lender and ask for the rate du jour (just like soup) on a 30-year fixed mortgage. All day long the rate that was quoted stayed the same, like Chicken Noodle at your local diner. Now, the mortgage process is a WHOLE different ballgame! No longer can the lender just quote you a

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