Navigating the maze of rules for inherited IRAs can make creating a plan for your inherited retirement account a daunting task. You must understand the complex Required Minimum Distribution rules, know if you are an eligible or non-eligible designated beneficiary, and determine the tax ramifications … [Read more...]
Inherited IRA Distribution Rules
Reviewing Tax Returns While Retired
Reviewing tax returns can be a daunting task given the complexities of federal and state tax law and frequently changing rules. Monitoring your exposure to various taxes (e.g., ordinary income tax, capital gains tax, alternative minimum tax, net investment income tax, etc.), along with understanding … [Read more...]
Reviewing Tax Returns While Working
Reviewing tax returns can be a daunting task given the complexities of federal and state tax law and frequently changing rules. Monitoring your exposure to various taxes (e.g., ordinary income tax, capital gains tax, alternative minimum tax, net investment income tax, etc.), along with understanding … [Read more...]
Tax Document Collection Checklist
Filing your taxes is never fun. Whether you are working with a tax professional or preparing your tax returns on your own, getting your tax documents pulled together can be a stressful process. This checklist covers the most common items to consider when preparing to file your tax return, such … [Read more...]
Considerations for Your Taxable Non-Qualified Account(s)
Non-qualified portfolio income can be a significant part of your tax situation. Types of investment income such as interest income, dividend income, and capital gains all factor into your Adjusted Gross Income (AGI) and Modified Adjusted Gross Income (MAGI) on your tax return, making it essential to … [Read more...]