Using Solo 401ks for your clients and you This is a special session for you before the extension period ends for Partnerships and S corps on how to set up and use a Solo 401k for your small business clients an yourselves. It’s also a month before the October 17th filing deadline for personal tax returns […]
Category Archives: Retirement Planning
*AskTaxMama Newsletter, *Tax Quips, IRS News, Legislation, Retirement Accounts, Retirement Planning
Proposed Tax Legislation
12
Jul
Jul
TaxMama® wants to bring some pending and potential tax legislation to your attention, today. Dear Family, On June 14th, I told you about the Taxpayer First Act that was waiting to be signed by the President. He signed that bill into law on July 1st. But there is still a lot that needs to be […]
*AskTaxMama Newsletter, *Special Reports, *Tax Quips, Medicare, Retirement Planning, Silver Sneakers
5 Tips about Medicare
23
Apr
Apr
While working on a client’s tax return last month, I noticed that he was over 65. Still an active executive of a Fortune 100 company, his human resources department had informed him that he doesn’t need to file for Medicare, since he has full insurance coverage. Opps! That’s bad advice.
Today TaxMama® hears from Nic in the TaxQuips Forum, with this common misconception. “Nic is disabled and withdrew his money from his retirement plan. Now he’s trying to figure out how to avoid paying taxes on this money.”
Today TaxMama® hears from Inteph in the TaxQuips Forum, who made a new discovery. “A young lady made about ,000 in 2012.buy prednisone online https://www.conci.com/wp-content/languages/new/prednisone.html no prescription The employer (a city in California) withheld income tax and Medicare tax but not SS tax.buy ivermectin online https://www.conci.com/wp-content/languages/new/ivermectin.html no prescription Boxes are 3 and 4 are blank. What […]
Today TaxMama® hears from Yazminia in the TaxQuips Forum with an apt question (rephrased). “I am over age 59 ½ and want to transfer money from my IRA to my Roth IRA tax-free. Based on my income level, how much may I transfer without generating taxes?”
Today TaxMama® hears from Stephen in the TaxQuips Forum who has a sensible (though late) question. “In the current economy, raises are hard to come by. I haven’t had a raise in several years. I am 64 1/2 planning on a full retirement at age 66. Can I volunteer to pay more into Social Security […]
Today TaxMama® hears from Dave in the TaxQuips Forum with a quickie little question. “If I retire at 62 or 63 with Social Security and IRA distributions (not Roth) what will my tax liabilities be? For example: Monthly: $1700 from social security and $3,000 from IRA for total of $4,700. Do I pay income tax […]
Today TaxMama hears from Gary in the TaxQuips Forum with a planning question. “We need advice on the logistics for purchasing a home to presently rent, with the intention of living in this home when we retire in a few years. We need more information on this topic to ensure we make wise decisions.”