by Christine | Jan 10, 2013 | Fiscal Cliff |
… The new rules basically let you convert everything in a traditional 401(k), including pre-tax salary deferrals, at any age, into a Roth 401(k). “They’re opening up in a major way the assets you hold that can be converted,” says Ed Ferrigno, vice president,...
by Christine | Jan 9, 2013 | Special Needs Trusts, Trustee, Trustee Fees |
If you are asked to be the Trustee of a Special Needs Trust (or any Trust, for that matter) and you would like to be compensated for your time and effort, make sure the Trust specifically states that you are allowed to be compensated for your work. In December 2012,...
by Christine | Jan 9, 2013 | Energy Tax Credit |
The American Taxpayer Relief Act extended the tax credit through 2013, making it retroactive to Jan. 1, 2012. So it applies to projects you did last year as well as those you take on this year. The Fiscal Cliff deal seems to have something for everyone, although some...
by Christine | Jan 8, 2013 | Estate Tax, Fiscal Cliff, Gift Tax |
Now that the fiscal cliff has been averted — at least temporarily – there is widespread confusion about the effect on estate planning of the 11th hour tax law passed by the Senate on New Year’s Eve, and by the House of Representatives one day later. Remember all that...
by Christine | Jan 7, 2013 | Charitable Giving, Charitable IRA Rollover, Charitable Organization, Charitable Trust, Fiscal Cliff, Tax Deductions, Tax Exempt, Tax Planning, Taxes |
Unless an IRA is a Roth, the account owner must take yearly minimum required distributions starting at age 70½ and pay tax on the withdrawals. With the charitable IRA rollover, as it is called, the donation can count against the minimum required distribution...
