Tax-Efficient IRA Withdrawals

Many people save for retirement by putting pretax dollars into an employer-sponsored retirement plan, such as a 401(k).  Those dollars may be rolled into an individual retirement account (IRA), perhaps at retirement or after a change in jobs.  An IRA rollover can maintain the tax deferral. Ultimately, those pretax dollars will be withdrawn and reported […]

The IRS May Put You on Hold

During the tax preparation season, business owners, individual taxpayers, and CPAs often have questions for the IRS.  If you need to call the agency, be prepared for a long wait.  Increased tax code complexity coupled with budget constraints have resulted in frustrating experiences for many callers. Advocate’s Assessment In her latest report to Congress, National […]

Deducting IRA Contributions

The deadline for 2018 IRA contributions is April 15, 2019.  Workers and their spouses who were under age 70 at year-end 2018 can each contribute up to $5,500, or $6,500 for those 50 and older.  For traditional IRAs, income limits don’t apply. That is, those named can make contributions of these amounts to a traditional […]

Past Losses Offer Winning Opportunities

For nearly two decades, investors have been riding a stock market roller coaster.  The late 1990s tech stock boom turned into a bust in the early years of this century, as the Dow Jones Total Stock Market Index fell by approximately 45%.  After a real estate-led recovery pushed stocks to new highs, a real estate […]

QTIP Trusts Still Offer Advantages

For many people, trusts can play a role in estate planning.  Indeed, a qualified terminable interest property (QTIP) trust may offer benefits to married couples.  That’s especially true for people who are in a second (or third) marriage, because a QTIP trust can prevent a second or third spouse from disinheriting children from a previous […]

Holding Stocks in Retirement Accounts

The stock market goes up and, as we’ve learned, it goes down.  Despite the volatility, stocks have been excellent long-term investments for many decades, and there’s no obvious reason to think that the future will be different.  Regular investing in equities, through bull and bear markets, probably should be part of your strategy for building […]

Renting vs. Buying a Home

Should you buy or rent your home?  This decision can include financial and non-financial factors.  Even if the non-financial aspects are extremely important, you should not overlook the financial side. Crucial Ratio One key to choosing between buying or renting is to determine the annual rent-to-purchase price ratio in the housing market you’re considering.  The […]

Safeguarding e-Data of Your Business

Data breaches at large corporations have been making headlines recently.  The good news is that major corporations have the resources to protect themselves from electronic intruders.  If your company does business with firms traded on public stock exchanges, your personal and business data probably are secure. The bad news?  Thwarted hackers and identity thieves may […]

Cybersecurity & Safeguarding e-Data of Your Business

Passive Activity Losses from Rental Property

In these times of high stock prices and low bond yields, investors may be looking to rental real estate as alternative investments.  This asset class can pay off, in the right situation.  Before making a final decision, however, you should be aware of the tax implications, especially within the realm of passive activity loss rules. Despite […]