Getting Your Financial Ducks In A Row Rotating Header Image

tax

No, You Can’t Contribute Stocks to Your IRA

Ever wonder if you could just contribute stock to your IRA? Follow along for the answer to this interesting question.

Valuation for Roth IRA Conversions

How does valuation work for Roth IRA conversions? When are the assets valued to determine what is taxable and what is tax-free?

Using Capital Gains and Losses to Help With a Roth Conversion

Using capital gains and losses to help offset your cost when doing a Roth conversion. This income offset can really help keep the cost down.

Double, Double, Toil and Trouble

It’s possible to accidentally pay double tax on your inherited IRA, unless you know how the IRD deduction works. This article outlines how it works – which may be important to you in the future when estate tax exemptions are reduced.

Roth Conversion Timing Where After-Tax Contributions Are Involved

The timing of your Roth conversion can make a huge difference, especially if you have after-tax contributions in your IRAs.

Health Savings Accounts – The Basics, Part 1

A Health Savings Account (HSA) is a tax-exempt trust or custodial account that you set up with a bank or other US financial institution which allows you to pay or be reimbursed for qualified medical expenses. The HSA must be used in conjunction with a High Deductible Health Plan (HDHP). The HSA can be established using a qualified trustee or custodian that is separate from the HDHP provider. Contributions to an HSA must be made in cash or through a cafeteria plan. Contributions of stock or property are not allowed. Benefits of an HSA There are quite a few benefits to an HSA: Contributions to an HSA are deductible from income – even if you don’t itemize deductions; If your employer makes contributions to an HSA on your behalf (such as via a cafeteria plan) the contributions can be excluded from your gross income; Your account contributions can remain in […]

5 Tactics for Required Minimum Distributions

If you’ve got to take required minimum distributions, here are several options for how you should plan them.

Understanding the Underpayment Penalty and How to Avoid It

You’ve calculated your taxes and found out you owe an underpayment penalty. Why did this happen? How can you avoid it?

IRA Trick – Eliminate Estimated Tax Payments

There is a way to eliminate the estimated tax payments throughout the year, using your IRA and a bit of imagination. It works, and works well.

Charitable Contribution Deductions

Lots of information about charitable contributions deductions for your tax return. There’s more to it than you think.

What to do When You Receive a Notice From the IRS

What should you do when you receive a notice from the IRS? It’s important to pay attention to what they’re asking for, and take action.

Mistakes With NUA

If you’re not careful there are several mistakes with NUA that can cause big problems for you. Pay attention when using NUA.

Just Starting With Retirement Savings? Get All the Credit You’re Due!

If you are saving in an employer plan or an IRA you need to check to make sure you’re getting the Saver’s Credit if you qualify.

IRA Transfer to HSA: Does This Make Sense?

Can it be a good move to transfer money from your IRA to an HSA? It’s something you can done once in a lifetime, but should you?

Choosing a Beneficiary for Your IRA

Choosing a beneficiary for your IRA is a decision with many variables to consider. Long term tax deferral can be very different depending on your choice.

The Outrageous Effect of Taxation of Social Security Benefits

Minor increases to income can result in significant increases to taxation of Social Security benefits, if you’re in the right range of income.

Financial Recordkeeping – How Long Do I Keep This??

How organized is your recordkeeping? Do you have any idea how long you should hold onto some of those documents? This article should help.

Three Reasons You May Not Want to Convert to a Roth IRA

In today’s historically-low tax rate environment, converting money from traditional IRAs to Roth can make sense, but not always. Keep your eyes open.