Financial Matters

Tips and news from the financial experts at Attentive Investment Managers.
Dec
30

The Secure Act: How it can possibly affect you

rmd

The Secure Act (Setting Every Community Up for Retirement Enhancement) was signed into law on Friday. Below please find some of the more important highlights of the new law. TD Ameritrade is working on accommodating the new rules with systems and internal process updates as they become effective January 1, 2020.

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Sep
11

Charitable Contributions Using RMD’s

charitable-contributions

With the new tax law changes from the 2017 Tax Cut & Jobs act, many Americans will be utilizing the increased standard deduction rather than itemizing. Those of you who are subject to the Required Minimum Distribution (RMD) rules can make distributions to your favorite charities from your IRA.

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Oct
27

Year-End Tax Planning

Year-End Tax Planning
​As we near the end of another year, it's a good time to see if there are any actions to implement in order to lower your tax bill next April. Portfolio review for capital lossesA review of your non-retirement accounts in order to liquidate any holdings that would produce capital losses. If your losses exceed your capital gains, you can deduct up to $3,000 against ordinary income. Any excess losses above the amount are carried forward to future years. Establishing a 401(k) planIf you're self-employed you have a 12/31 dead-line to establish a 401(k) plan. Other types of retirement accounts (SEP-IRA's, traditional IRA's) can be set up after year end and still be timely funded in 2017 to produce a 2016 write-off.Roth ConversionsIf your income is down in the current year (hopefully it is not), a Roth Conversion can make lemonade out of lemons. Converting an IRA to Roth IRA may be something to consider. You should talk this over with your tax preparer ahead of time ...
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