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How to Take Advantage of Tax Reform Before Year’s End

Jude Heath CPA of the Total Wealth Authority

by: Jude Heath CPA 6 tax savings ideas to consider before year’s end 1. Pay your 2018 property taxes early If your state and local taxes will be greater than $10,000, pay the excess by December 31st, leaving $10,000 to deduct in 2018. 2. Make an extra mortgage payment Make your January mortgage payment in
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The Ricks Report – October 30, 2017

The Ricks Report October 30, 2017 Numbers of $ignificance  START SAVING NOW – A child born in 2017 that begins kindergarten in the fall of 2022 would attend college between the years of 2035 and 2039. If that child attended an average public in-state 4-year college and if the annual price increases for public colleges
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Are You Over 70.5 Years Old and Still Working? Understand Your Options With RMDs: This Week’s Q&A

This week’s Slott Report Mailbag examines RMDs when you are still working past 70.5 years old and inheriting multiple IRAs. As always, we recommend you work with a competent, educated financial advisor to keep your retirement nest egg safe and secure. You can find one in your area here. Question: I have read some of your
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A Tale of 3 Cousins and Their Inherited 401(k) Plans

This is the story of Al, Bob and Carl. Each cousin is the non-spouse beneficiary of his father’s 401(k) plan. Their fathers worked together at the local automotive factory for their entire lives and were all covered by the same plan. The default distribution option in the plan for non-spouse beneficiaries is a five-year payout.
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Retirement Plan Checks and 60-Day Rollovers

Generally, when you receive a check from your IRA custodian or employer plan, you have 60 days to rollover the funds to another retirement account, either an IRA or an employer plan. As with most retirement plan rules, this rule comes with two exceptions – one good and one bad. Let’s look at what happens
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