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Aaron’s Mailbag: Retirement Basics
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Aaron’s Mailbag: Retirement Basics

Personal Tax

Aaron’s Mailbag: Retirement Basics

From time to time, I receive e-mails from clients that include great questions! I like to share these questions and my answers: Client: Aaron - [My wife] and I were talking to one of my uncles over Thanksgiving and he recommended that we invest in dividend stocks. Are we able to take the funds in our 401k's and IRAs and direct the funds into certain stocks? I know we briefly touched on this when we were in your office, but any advice/direction you have we would greatly appreciate! Aaron's Take: This is a great question. You don’t usually invest in [...]

November 29th, 2016|Personal Tax|Comments Off

Five questions to help couples get on the same retirement page

It’s common for couples to have very different ideas about what retirement would be like – and the cost of providing those different lifestyles may vary significantly. For example, a career-oriented husband may be thinking he’d like to continue working in some capacity, while his wife could be counting the days until the two of them can spend more time together. If these two don’t share their ideas about the future, their visions could easily conflict. Reconciling your perceptions, wants and needs for retirement – and how you’ll pay for them – is essential to enjoying this new stage of [...]

December 30th, 2014|Personal Tax|Comments Off

Mid-Year Tax Planning

Tax Season 2014 has come and gone and now it's time to think about tax planning for tax year 2014. Items which could impact your 2014 taxes include certain life events and expired tax provisions. Certain Life Events Have you recently had a birth, adoption or death in your family? Have you gotten married, divorced, retired, or changed jobs this year? If any of these life events occur in 2014, we need to discuss the potential impact on your 2014 taxes. For example: 1) For Qualifying Children under the age of 17, a tax credit up to $1,000 per qualifying child may be [...]

June 24th, 2014|Business Tax, Personal Tax|Comments Off

IRS Sets 2014 IRA and 401(k) Limits

The Internal Revenue Service has announced the following retirement contribution plan limits for the 2014 tax year. IRA Contributions […]

November 13th, 2013|Business Tax, Personal Tax|2 Comments

2nd Quarter 2013 Updates – Retirement Accounts

Retirement Accounts Individuals' guarantees of loan to company owned by their IRAs were prohibited transactions. The Tax Court has held that taxpayers' guarantees of loans to a company, the stock of which was held by their individual retirement accounts (IRAs), to purchase another company's assets, were prohibited transactions under the tax laws. As a result, their accounts ceased to be tax-exempt IRAs, and the taxpayers were liable for tax on the capital gains realized on the later sale of the company stock. The individuals argued their personal guarantees weren't prohibited transactions because they covered loans to an entity owned by [...]

July 30th, 2013|General Consulting, Personal Tax|1 Comment