Income Taxes

Fall Financial Reminders

Fall Financial Reminders The year is coming to a close. Have you thought about these financial ideas yet? As every calendar year ends, the window slowly closes on a set of financial opportunities. Here are several you might want to explore before 2015 arrives. Don’t forget that IRA RMD. If you own one or more traditional IRAs, you have to take your annual required minimum distribution (RMD) from one or more of those IRAs by December 31. If you are [...]

By |2017-03-28T08:17:21-04:00October 23rd, 2014|Income Taxes, IRA, Personal Finance|Comments Off on Fall Financial Reminders

Taking Taxes Into Account When Saving & Investing

Taking Taxes Into Account When Saving & Investing It isn’t always top of mind, but it should be. How many of us save and invest with an eye on tax implications? Not that many of us, according to a recent survey from Russell Investments (the global asset manager overseeing the Russell 2000). In the opening quarter of 2014, Russell polled financial services professionals and asked them how many of their clients had inquired about tax-sensitive investment strategies. Just 35% of [...]

By |2017-03-28T08:17:22-04:00August 7th, 2014|Income Taxes, Investing, Personal Finance|Comments Off on Taking Taxes Into Account When Saving & Investing

A Guide to 2014 Tax Law Changes

A Guide to 2014 Tax Law Changes (& More) While 2014 has not brought momentous changes to federal tax laws, there are many alterations and COLAs worth noting. In particular, the Affordable Care Act has prompted a few significant changes. Additionally, a host of tax provisions created during the recession expired at the end of last year. Some were scheduled to sunset at the end of 2012, but were extended. Their reinstatement for 2014 is left to Congress. The 2013 [...]

By |2017-03-28T08:17:26-04:00February 21st, 2014|Income Taxes, Personal Finance|Comments Off on A Guide to 2014 Tax Law Changes

Organizing Your Paperwork for Tax Season

Organizing Your Paperwork for Tax Season If you haven’t done it, now’s the time. How prepared are you to prepare your 1040? The earlier you compile and organize the relevant paperwork, the easier things may be for you (or the tax preparer working for you) this winter. Here are some tips to help you get ready: As a first step, look at your 2012 return. Unless your job, living situation or financial situation has changed notably since you last filed [...]

By |2017-03-28T08:17:27-04:00January 29th, 2014|Income Taxes, Personal Finance|Comments Off on Organizing Your Paperwork for Tax Season

RMD Precautions & Options

RMD Precautions & Options A reminder about mandatory withdrawals from IRAs & other retirement plans. Just what is an RMD? After you turn 70½, the IRS requires you to withdraw some of the money in most retirement savings accounts each year. These withdrawals are officially called Required Minimum Distributions (RMDs).1  You must take an RMD from a traditional IRAs after you turn 70½, even if you are still working. If you don’t, a severe financial penalty awaits – you may [...]

By |2017-03-28T08:17:28-04:00October 3rd, 2013|Financial Fitness, Income Taxes, Investing, IRA, Personal Finance|Comments Off on RMD Precautions & Options
Go to Top