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Tax Planning

How Much of Your Retirement Savings Can You Afford to Lose?

  Of course when most people answer this question they will usually say, “I can’t afford to lose any of it!” So, with a retirement portfolio that has exposure to the stock market in the form of individual stocks or stock mutual funds, let’s first define a loss.  The easiest way would be when you receive your next month’s statement and you see that your portfolio value has dropped from...
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5 Reasons Why You Need An Estate Plan

   You Need An Estate Plan. Here's why... Avoiding Probate. We have all heard that this is something to avoid, but what are the problems with probate?  The main ones are the unnecessary costs, and the potential time delays that can tie up assets.   The good news is with good planning it can be easily avoided. Determining Beneficiaries. Without an estate plan, your assets will often...
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10 Reasons to Convert to a Roth IRA

The Roth IRA For Many Is A Staple to Effective Retirement Planning... 1. Taxpapers that have favorable tax features, such as a high basis ratio, charitable deduction carry-forwards, investment tax credit, net operating losses (NOLs), etc. This is due to the fact that these attributed reduce the effective tax rate of the conversion. 2. Suspension of the minimum distribution rules at...
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How Are Social Security Benefits Taxed?

How Are Social Security Benefits Taxed? A lot of people wonder if their Social Security benefits are going to be taxed, and if so at what rate?  Well the answer is it all depends on what you have coming in for income from other sources.  To find out you need to calculate your Provisional Income.  Nothing’s easy with the IRS right?  Let’s see how to figure this out: So Just What is Provisio...
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