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...
by Leif Jensen | Jul 26, 2021 | Retirement |
If you inherited an IRA last year. When must you take distributions from it? You have 10 years from the death to clean out the account. This doesn’t mean payouts must be distributed evenly over a 10-year period. You can wait until the 10th year to take out all the...
