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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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