Retirement Watch Weekly
Taking Advantage of the 0% Tax Rate
There still is time to take advantage of the 0% tax rate. This special tax benefit was put in effect for select taxpayers in 2008, 2009, and 2010 for their long-term capital gains and qualified dividends. Even if you are a higher-bracket taxpayer, you may be able to benefit from the 0% rate. The 0% […]
Taxing Gains on Gold ETFs
The IRS continues to issue positions on exchange-traded funds that hold gold and other precious metals. Previously we reported good news for investors who owned gold ETFs in IRAs and other retirement accounts. The standard rules are retirement accounts are not allowed to purchase collectibles, and precious metals are collectibles. But the IRS ruled privately […]
The Keys to Estate Planning – Taxes and The Law
In fewer than 10 years Estate Planning changed dramatically and still is changing. When I first wrote about estate planning, estate taxes were the driver of most plans. Even middle class Americans – modest millionaires we called them – needed plans to avoid estate taxes. The estate tax code changed dramatically. The 2001 tax law […]
Giving Gifts and a Lecture
Grandparents are filling only half their roles these days. They are providing financial help to their grand-children. In fact, they increased their financial aid as the economy worsened. Unfortunately, they are offering gifts and providing financial aid without much advice. About 63% of grandparents say they provided some form of financial assistance to their grandchildren […]
Choosing from Medicare’s Options
Medicare enrollment season is almost upon us. Every year, Medicare beneficiaries have a six-week period beginning Nov. 15 to select their medical plans. New Medicare members face the same choices when they enroll. Many of you have decisions to make. Even if you are happy with your Medicare plan, it is a good idea to […]
Preparing for the Roth IRA Opportunity
In 2010 all taxpayers will have the opportunity to create a tax-free stream of retirement income by converting traditional IRAs into Roth IRAs – and can receive a tax incentive to convert. Most Baby Boomers aren’t even aware of the upcoming conversion opportunity, and only a minority plan to convert, according to recent surveys. That’s […]
Understanding the 10% Penalty and Roth IRAs
One of the more confusing aspects of Roth IRAs is the 10% penalty for early distributions. The penalty is different for regular Roth IRAs and converted Roths. Tax-free distributions from Roths might be penalized. Don’t confuse the rules on taxes with the penalty. The same penalty and exceptions apply to traditional and Roth IRAs, unless […]
PLanning Your Financial Makeover
Only a few years ago most of us could let some financial details and tasks slip through the cracks. The economy and investment markets were doing so well most of us could afford to miss opportunities to save money or increase wealth. That is not the case today. Interest rates are low and even after […]
