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Planning for Retirement in Stages

Published December 17, 2009 3714 Views

Some of us consider the holiday visits and beach travel of the winter season to be much-needed breaks from the daily grind while others of us might find themselves even more stressed out after a weekend with Aunt Harriet or a delayed connecting flight home from Cancun. Still, there's one big break a...

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An IRA contribution after retirement??

Published December 16, 2009 3967 Views

Most retirees are convinced they can no longer contribute to their retirement saving. There is an exception that is often overlooked. If you retire and your spouse continues to work, even part-time, you may qualify for a "spousal IRA" contribution. For example, you retire at 60 years old, your 60...

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Year End Tax Planning - Post 4 of 4

Published December 16, 2009 3706 Views

Like everything to do with taxes, capital gain & loss taxation carries plenty of fine print. Here it is in plain English: A "realized" gain or loss is from something you have sold and must be reported to the IRS. "Unrealized" means it's something you still hold and so no tax is due nor deductio...

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Gas and hot air

Published December 15, 2009 3957 Views

I am interrupting my "Year End Tax Planning" series, please check in tomorrow for post 4 of 4. Let's talk about energy - everybody else is. With the big climate conclave in Copenhagen there's a lot of buzz about clean and renewable energy. In our business we get asked about opportunities to make mo...

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It is never too late to start saving for retirement

Published December 15, 2009 3692 Views

A reminder for our retired friends and clients age 70 1/2 or older. Once again in 2010 the federal government will require minimum distributions from retirement plans in an effort to collect tax revenues from those of you who saved for your golden years. We will help you make informed decisions...

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Here We Go Again

Published December 14, 2009 4024 Views

As we approach the end of the year, it appears that our representatives in Washington are up to their old tricks finding time to write "extender" tax bills so they can claim they voted to reduce our taxes. As usual, we predict it will pass. On December 9, the House of Representatives approved H.R....

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Year End Tax Planning - Post 3 of 4

Published December 14, 2009 3771 Views

Time to talk about how to avoid the most common pitfall that could cause you to lose a capital loss deduction. Many people are happy to have a few capital gains from securities sold during 2009. It is a welcome relief to see a little black ink after 2008's red tide. But nobody is happy to pay tax...

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It's the most wonderful time of the year!

Published December 11, 2009 3749 Views

How can you not love December? Sure, the snow and cold can certainly get to you, but the promise of a visit from old Saint Nick quickly puts that thought in the back of our minds. People are out spending money and spreading holiday cheer. There is so much happiness surrounding December that even...

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Year End Tax Planning - Post 2 of 4

Published December 11, 2009 3688 Views

In the first post I talked about the taxability of mutual fund distributions. December is the month when most funds pay out capital gains if they have them. The distributions are taxable, so how to reduce the bite? One way is to look at the your total tax cost for your fund. Mutual fund investors o...

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Year End Tax Planning - Post 1 of 4

Published December 10, 2009 3763 Views

Let's review how mutual fund investments affect your taxes and what you can do to shrink the bite. If you own mutual funds, this is the time of year when many funds pay capital gains distributions. Even if your fund reinvests the distributions, they are taxable (unless your fund is held in a...

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