Inheriting an IRA is quite a bit different than inheriting any other asset. Unlike cash or investments in a traditional investment account, if you inherit an IRA you’ll need to start withdrawing from the account…
Read More
How to Hire an Accountant
Managing your financial affairs is a big job. You have to keep track of your income, manage your assets for long term growth, pay taxes, and arrange for your estate to be distributed after you…
Read More
Top Strategies for Managing Incentive Stock Options
Incentive stock options, or ISOs, are a pretty common way for companies to compensate management and key employees. Otherwise known as “statutory” or “qualified” options, ISOs are a way to give management a stake in…
Read More
Turbotax vs. Accountant: When Should You Hire a CPA?
Let me start by saying that I’m a big fan of most tax preparation software. Taxes are a cost in and of themselves. Any way to automate the prep and filing process in a compliant…
Read More
Mutual Fund Capital Gains Distributions: What They Are & How to Avoid the Tax Hit
If you’ve ever invested in a mutual fund, you may know that they’re required to distribute at least 95% of their capital gains to investors each year. You may also know from experience that these…
Read More
401(k)’s, IRAs & Tax Deferred vs. Tax Exempt Investing
Should I contribute to a traditional or a Roth IRA? This is a big question I get asked fairly frequently. And really, the conversation expands beyond individual retirement accounts. The decision whether to invest on a…
Read More
6 Ways to Minimize Required Minimum Distributions
There’s a plethora of tax advantaged retirement accounts out there today. Enough that the acronyms and numbers can get really confusing… IRA 401k 403b 457 Profit sharing SEP IRA SIMPLE IRA Just to name a…
Read More
401k RMD Rules: A Comprehensive Guide
You’re probably familiar with the term “required minimum distributions” (or RMDs for short). They’re the systematic withdrawals that the IRS makes you take out of an IRA after you turn 70 1/2. But what about…
Read More
IRA Contributions After 70.5…Can You? Should You?
Recently I had a client in his mid-60s ask me how much longer he’d be allowed to contribute to his IRA. My client was approaching retirement, but wasn’t planning on drawing from the account until…
Read More
5 Times a Roth 401k Conversion is a Good Idea
Roth IRAs have become one of the most popular ways to build retirement savings over the years. In fact, they’re so popular that thousands of people clamor every tax season to convert their traditional IRAs…
Read More