Money Matters: Timing IRA distributions crucial to avoid tax penalty
What is the best time for distributions from an inherited IRA, a 69-year-old asks.Click to Continue »
View ArticleMoney Matters: Advice for how to monitor an aging parent’s financial...
You can monitor an aging parent’s financial activity by getting a credit report and preventing new accounts from being open by freezing her credit.Click to Continue »
View ArticleMoney Matters: Consider all costs when deciding whether to buy or rent
Owning rental properties as an alternative or a compliment to a stock portfolio can be effective. It could also become very complicated to manage, especially as you get older.Click to Continue »
View ArticleMoney Matters: Tips on naming primary and contingent beneficiaries of your IRA
You can accomplish a lot of things with a beneficiary designation.Click to Continue »
View ArticleMoney Matters: What happens when a beneficiary dies before an IRA owner
A beneficiary designation usually supersedes any other instructions, including those in your will. You can change your beneficiary designations as often as you like, but they are irrevocable upon...
View ArticleMoney Matters: What happens to beneficiary when owner of traditional IRA dies
Only a surviving spouse has the option of rolling an inherited IRA to their own IRA. This can be a good option if there is no need for the money…Click to Continue »
View ArticleMoney Matters: Tax changes make custodial savings accounts less attractive
Tax changes have made custodial accounts such as the Uniform Transfers to Minors Act accounts very unattractive. Custodian accounts no longer allow unearned income of children age 14 or over…Click to...
View ArticleMoney Matters: Advice for making the most of a stock or mutual fund gift
When you are gifted a stock or mutual fund, you inherit the donor's holding period and cost basis. This is the date bought and amount paid to acquire the asset…Click to Continue »
View ArticleMoney Matters: Calculating potential taxes on annual gifts over $14,000
Staying within the $14,000 gifting limit of present interest (meaning the recipient can immediately use the gift) property or cash to any one individual is the simplest approach to gifting.Click to...
View ArticleMoney Matters: How to calculate taxes on losses, gains across different...
In general, losses from any type of investment can offset gains from any other type of investment. The short-term losses will offset any long-term capital gains dollar for dollar and…Click to Continue »
View ArticleMoney Matters: Advice for setting up a retirement account at end of year
Qualified plans, such as a 401(k) must be established prior to year end and if a safe harbor plan, it would need to have been established by Oct. 1, 2014,Click to Continue »
View ArticleMoney Matters: How to set, attain financial goals in 2015
The following information may be helpful in attaining or setting financial goals for 2015.Click to Continue »
View ArticleMoney Matters: Know these tax rules before taking early withdrawals from your...
To take a series of substantially equal payments from your IRA without penalty, you must withdraw money at least once a year, and you must keep taking money out for…Click to Continue »
View ArticleMoney Matters: Tax tips for those with money in foreign bank accounts
U.S. citizens need to file a Foreign Bank Account Report in any year in which they have financial interest in or signature authority over a foreign account with an aggregate…Click to Continue »
View ArticleMoney Matters: Bridging the income gap until Social Security
Advice for those looking to meet their income needs until beginning Social Security.Click to Continue »
View ArticleMoney Matters: Be aware of these costs before starting your own business
In addition to the startup costs, recurring costs and loss of W-2 income, you will need to prepare for the costs associated with replacing any needed benefits currently provided by…Click to Continue »
View ArticleMoney Matters: Advice for a new business owner concerned about liability...
As a sole proprietor, you don’t have any liability protection beyond what insurance can provide. If liability protection is a concern then you need to consider the S corporation, C…Click to Continue »
View ArticleMoney Matters: Why a Health Savings Account could be right for you
High Deductible Health Plans combined with Health Savings Accounts make a lot of sense in most situations.Click to Continue »
View ArticleMoney Matters: Determining whether a longevity annuity is right for you
A longevity annuity is an annuity that is purchased now with a lump sum of money with the guarantee of a future income stream. If you want to purchase this…Click to Continue »
View ArticleMoney Matters: Homeowner with ‘extra money’ seeks refinancing...
Regardless of whether you decide to refinance under the Home Affordable Refinance Program, refinance without HARP, increase your current payment or a combination of these options, I wouldn't worry...
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