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Timeless Thoughts on Investing
I was recently re-reading an older book, The Money Game, by “Adam Smith”, and I came across a very poignant passage that I thought I should share. This book was written in 1967, and it is a very...
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Property Flipping Gains Deemed Ordinary Income, Not Capital Gains
Since the housing market downturn, the national pastime of “property flipping” has fallen in popularity – heck, I haven’t seen a TV show on property flipping in ages. But the activity of buying a...
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NUA and the Roth Conversion
You may or may not be familiar with the concept of Net Unrealized Appreciation (NUA) as it relates to company stock owned in your 401(k) plan. Click the link to get a rundown on it if you’re not...
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Required Minimum Distributions for IRAs and 401(k)s
Photo credit: jb This is one of those subjects that can be a bit confusing – and it’s based on the rules that apply to the different kinds of plans, as well as different kinds of beneficiaries. You are...
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Advice on Social Security Benefits
I get a lot of questions about when to take Social Security benefits most efficiently, and when to begin Spousal Benefits. And unfortunately, I am often at a loss for giving a specific answer to the...
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Avoid Errors In Your Tax Filing
Photo credit: jb As we approach the extended income tax filing deadline, folks all over the country are in a mad rush to fill out returns and complete the filing process. Software for return...
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More Clarification on Rollovers and Transfers
Photo credit: diedoe I’m compelled to provide an additional update to the posts I’ve provided in the past in the article Running Afoul of One Rollover Per Year Rule and its follow-up More on the...
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10% Penalty Applied to Roth Conversion? Maybe
Photo credit: jb In general, when you withdraw funds from an IRA prior to age 59½, your withdrawal is subject to both income tax and the 10% early withdrawal penalty. The 10% penalty is waived if your...
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How to Get Your Prior Year Tax Return Information From the IRS
If you’re trying to find information from your prior years’ tax returns and you don’t have the old forms (who has the space to keep all that!?), you have a few options available to you. Generally...
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Which Retirement Account Should You Tap First?
Photo credit: jb If you have multiple options of various different kinds of accounts to choose from, such as an IRA, a Roth IRA, a qualified retirement plan (such as a 401(k) plan) also known as a QRP,...
View ArticleClik here to view.
Avoid Errors In Your Tax Filing
Photo credit: jb As we approach the extended income tax filing deadline, folks all over the country are in a mad rush to fill out returns and complete the filing process. Software for return...
View ArticleClik here to view.
More Clarification on Rollovers and Transfers
Photo credit: diedoe I’m compelled to provide an additional update to the posts I’ve provided in the past in the article Running Afoul of One Rollover Per Year Rule and its follow-up More on the...
View ArticleClik here to view.
10% Penalty Applied to Roth Conversion? Maybe
Photo credit: jb In general, when you withdraw funds from an IRA prior to age 59½, your withdrawal is subject to both income tax and the 10% early withdrawal penalty. The 10% penalty is waived if your...
View ArticleClik here to view.
How to Get Your Prior Year Tax Return Information From the IRS
If you’re trying to find information from your prior years’ tax returns and you don’t have the old forms (who has the space to keep all that!?), you have a few options available to you. Generally...
View ArticleClik here to view.
Which Retirement Account Should You Tap First?
Photo credit: jb If you have multiple options of various different kinds of accounts to choose from, such as an IRA, a Roth IRA, a qualified retirement plan (such as a 401(k) plan) also known as a QRP,...
View ArticleClik here to view.
The Affect of Earnings on Your Social Security Benefit
Photo credit: coop Your wage earnings and other income can impact your Social Security benefit in several ways. These earnings can increase the amount of your Social Security benefit that is taxable....
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Required Minimum Distributions and the Successor Beneficiary
Photo credit: diedoe If the beneficiary of an inherited IRA dies before exhausting the inherited IRA or qualified retirement plan (QRP) through distributions, how are the ongoing distributions to be...
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The Protective Filing Statement
Photo credit: jb When planning for your Social Security benefits, there is an additional tactic that you may never have heard of: the Protective Filing Statement. This statement is a way to apply for...
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Forget your RMD? Here’s What to Do
Photo credit: jb If you have an IRA that you have to take Required Minimum Distributions (RMDs) from, you need to do this every year by the end of the year. So what if you forget one year? The rule is...
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Did You Break Your SOSEPP?
Image via Wikipedia If you don’t know what a SOSEPP is, that’s okay – chances are if you don’t know what it is, you don’t have one. SOSEPP stands for Series Of Substantially Equal Periodic Payments....
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