As part of The Coronavirus Aid, Relief, and Economic Security (CARES) ACT in response to the COVID-19 Virus, here is some important but not yet widely-known financial information. 1) ANYONE who would otherwise have a Required Minimum Distribution (RMD) in 2020 will NOT be required to take an RMD in 2020. Of course, you can take an RMD or other distribution from your IRA but it will not be required in 2020. If someone already took an RMD for 2020, which … Continue reading

Every week in our community’s small newspaper there are 4-5 quick stories about normal (educated) people who have been scammed out of there money or their private/personal information which will be used to scam them at a later time. It can happen to anyone! In this BLOGPOST I describe the latest scam involving Social Security checks and then make a prediction of an even bigger scam to begin as early as next week which will set its sight on Americans … Continue reading

Beat the Unfair $10,000 SALT Cap with a C Corporation C corporations cause double taxation for business owners, so you probably think you want to avoid them at all costs. And for many of you, this is true, as the S corporation often provides the lower overall tax outcome. But for some of you, the C corporation could provide the best tax outcome because it bypasses the $10,000 state and local tax (SALT) deduction cap, which was introduced by the … Continue reading

OK, let’s remember that paying taxes on tax-postponed IRAs are inevitable. The tax judgment day will come… both during and after your life. The taxes must be paid at one point – at future tax rates, tax brackets and deductions that are unknown today. The IRS is an unwanted but a very real beneficiary of your retirement savings (while you’re alive taking any distributions… and at death). Whatever the account balance on your traditional 401K/IRA statement shows, a good chunk … Continue reading

With the DOW now having intra-day moves of 1,000+ points based mostly on Coronavirus fears, this is a great time for investors to give increased thought to their investment holdings and market-based portfolios. And although most of the headlines are about the US and other major STOCK markets, in many ways, a bigger concern to me is the BOND market. Yes… bonds! Today, the 10-year US Treasury bond went down to a yield of .97%. That’s under 1%!  WOW. When … Continue reading