In Clark Kendall’s book, Middle-Class Millionaire: Surprisingly Simple Strategies to Grow and Enjoy Your Wealth, chapter 18 explains “Planned Giving” and walks through best practices of gifting. Below is a story about Rich and Barbara and real-life examples of how to gift efficiently. Rich is a retired film stuntman who, after a long career, is … Continue reading “Gifts- Taxable or Not?”
If you own an Individual Retirement Account (IRA), you may have heard about Roth IRA conversions. Converting your traditional IRA to a Roth IRA can make a lot of sense depending on your situation. But remember, consulting with your financial advisor here at Kendall Capital before making financial decisions is always a good idea. … Continue reading “Options and Benefits of Roth IRA Contributions”
Roth IRAs are one of the best gifts that Congress has ever given Americans when it comes to saving money for retirement. Contributions grow tax deferred like with traditional IRAs, but withdrawals are usually tax-free if they’re made after you turn 59½ years old. Also, there are no Required Minimum Distributions (RMDs) with Roth IRAs … Continue reading “Why Now Could Be a Good Time for a Roth IRA Conversion”
Each year, U.S. taxpayers face several year-end deadlines which, if ignored, can be costly and in some cases punitive. In the latter category, consider people over age 70 1/2 who fail to take the full required minimum distribution from their IRA or 401(k). If they get the calculation wrong, or forget the distribution altogether before … Continue reading “Year-End Tax Opportunities”
Carol Petrov discusses the impacts of the new charitable gifting laws, and how to save time and money when it comes to donations and tax time.
The Tax Cuts and Jobs Act of 2017 hasn’t been formally ratified by the U.S. House and Senate, but with votes scheduled for the House this afternoon and the Senate late tonight, the bill will likely be sent to the President’s desk by tomorrow morning. As you probably know, the House and Senate versions were … Continue reading “The Tax Cuts and Jobs Act of 2017: How Will the Bill Effect You?”
Nearly a month following the 2016 federal income tax filing deadline.
The 2015 Obergefell v. Hodges Supreme Court decision streamlined tax and estate planning for married gay and lesbian couples. If you are filing a joint tax return for 2016 or thinking about updating your estate plan, we have some important things to remember. You can file jointly for 2016 if you married at any time … Continue reading “Tax & Estate Planning Update for Married Same-Sex Couples”
If you’re thinking about buying mutual funds before the end of the year, consider this. We’re currently several years into a bull market. Prior to the election, the market had had a broad rally since 2009. Then, Trump defied the odds. In the week following his surprising win, the markets responded to the President-elect’s pledge … Continue reading “Mutual Funds and Capital Gains: Could You Be Making a Costly Mistake?”