Jan 25, 2018 | Blog, FAQ, White Papers
Periodically, the question arises of whether to convert a Traditional IRA to a Roth IRA. Generally clients must ‘crunch the numbers’ to decide whether this makes financial sense. As with most tax calculations, there is no hard and fast rule for everyone. Several factors need to be considered. Some are easy to determine (your age, ability to pay the tax without retirement funds) and others are not so easy (rate of return on investments and effective tax rate in retirement)
Jan 25, 2018 | Blog, FAQ, White Papers
Now that we are into the New Year, savvy investors holding real estate in traditional IRAs are assessing whether now is a good time to convert those IRAs to Roth IRAs. The main reason investors consider converting is to place those retirement plans in a better tax position. Keep in mind that earnings on Roth IRA investments grow tax free as opposed to just growing tax deferred as in the case of Traditional IRAs.
Jan 23, 2018 | Blog, Tax Bites
You might be able to deduct home office expenses for 2017 but not 2018. The difference may depend on whether you’re an employee or self-employed.
Jan 16, 2018 | Blog, Tax Bites
It’s the total impact of the TCJA’s reduced tax rates and other changes that will determine whether your tax liability drops for 2018. Changes to the personal exemption, standard deduction and child credit are just the tip of the iceberg.
Jan 9, 2018 | Blog, Tax Bites
At tax filing time, a large tax bill isn’t your only risk. So is tax identity theft. To protect yourself, be speedy.
Jan 2, 2018 | Blog, Tax Bites
Bonus depreciation allows businesses to deduct more of an asset’s cost in the year the asset is placed in service. The new tax law’s enhanced bonus depreciation provision may save tax on your 2017 return.
Dec 26, 2017 | Blog, Tax Bites
For individual taxpayers, most Tax Cuts and Jobs Act provisions will apply only for 2018 through 2025. But they’ll generally have a big impact during that time.
Dec 16, 2017 | Blog, Tax Bites
The contribution limits for a couple of types of tax-advantaged retirement plans have gone up for 2018. How much should you contribute?
Dec 12, 2017 | Blog, Tax Bites
The charitable donation deduction hasn’t been proposed for elimination or reduction under tax reform, but there still are reasons to maximize charitable giving this year. Just be sure to follow the rules.
Sep 18, 2017 | Blog, White Papers
By John “Jack” F. Kiley, CPA, CISP Partner / MidAtlantic IRA, LLC Partnering with your own Self-Directed IRA is just one strategy that I’ve seen more and more investors implement to try to help boost their retirement savings. Simply put, this strategy combines...
