by Leif Jensen | Nov 7, 2022 | Retirement |
The Internal Revenue Service announced today that the amount individuals can contribute to their 401(k) plans in 2023 has increased to $22,500, up from $20,500 for 2022. The IRS today also issued technical guidance regarding all of the cost of living adjustments...
by Leif Jensen | Aug 8, 2022 | Investing, Money Management, Retirement |
2021 seemingly was the year of Roth conversions. We had multiple clients joint our regulars who do annual conversions. A Roth conversion needs to go directly from brokerage to brokerage with no income limitations as well as no conversion amount limitations. But all...
by Leif Jensen | Jul 12, 2022 | Retirement |
The dreaded 72-T calculation, who is doing yours? I ask that question, because we picked up a new elderly client this past tax season and she expected me to do the calculation for her. Having been compliance for a group of financial advisors in a past life I know...
by Leif Jensen | Mar 30, 2022 | Money Management, Retirement, Running a Business |
This year we picked up a number of new clients, a surprising amount have side gigs. Granted a number of them have a rental property of two. Today, I met with a couple where one had a pretty extensive e-commerce operation. They have their website, but also are very...
by Leif Jensen | Jul 28, 2021 | Retirement |
Let’s take a look at three important rules if contemplating an IRA rollover: First, the money must be returned within 60 days, or the distribution is taxed, assuming no direct rollover. It’s also hit with an early payout penalty for people under age 59½. The IRS...
by Leif Jensen | Jul 27, 2021 | Retirement |
If you made a qualified charitable distribution from my traditional IRA. Will the 2021 Form 1099-R that I get early next year reflect the QCD? No. People age 70½ and older can transfer up to $100,000 yearly from traditional IRAs directly to charity. These QCDs can...
