| Author |
Message |
 Topic: Need help with tax deductions from paycheck |
BlankenshipFP
Replies: 25
Views: 66975
|
 Forum: Taxes Posted:
Tue Jan 05, 2010 12:13 pm Subject: Need help with tax deductions from paycheck |
| If you're not covered by a retirement plan, you can contribute up to $5,000 to a traditional IRA and deduct that from your income for tax purposes. If you're over age 50, you can increase this amount ... |
| Topic: Forum Cash? |
BlankenshipFP
Replies: 10
Views: 5385
|
Forum: Earning & Income Posted:
Fri Jan 23, 2009 3:39 pm Subject: Forum Cash? |
| It's actually a used Yugo. I think I got the shaft on this one. Marotta prolly got the Cadillac. |
| Topic: Forum Cash? |
BlankenshipFP
Replies: 10
Views: 5385
|
Forum: Earning & Income Posted:
Fri Jan 23, 2009 3:08 pm Subject: Forum Cash? |
Hey - he doesn't have the car option any more!
Guess I'll just have to settle for the fleet car provided to me by the forum as a forum advisor... |
| Topic: Forum Cash? |
BlankenshipFP
Replies: 10
Views: 5385
|
Forum: Earning & Income Posted:
Thu Jan 22, 2009 4:23 pm Subject: Forum Cash? |
I'm saving mine to buy a car.  |
| Topic: Childrens' savings accounts and divorce |
BlankenshipFP
Replies: 6
Views: 3471
|
Forum: Personal Finance Posted:
Mon Jan 12, 2009 2:59 pm Subject: Childrens' savings accounts and divorce |
| Thanks for the clarification. Yes, an UTMA could make sense, but then again so could a standard passbook account in the child's name. The primary use of an UTMA or UGMA is to move funds from the par ... |
| Topic: Childrens' savings accounts and divorce |
BlankenshipFP
Replies: 6
Views: 3471
|
Forum: Personal Finance Posted:
Sun Jan 11, 2009 6:09 pm Subject: Childrens' savings accounts and divorce |
jetdsmom, I recognize what you're trying to accomplish here, but unfortunately it sounds like your local banks are not willing to help administer the account in the fashion you wish.
You may want ... |
| Topic: I had too much tax taken out on the Roth rollover. Now what? |
BlankenshipFP
Replies: 19
Views: 23768
|
Forum: Taxes Posted:
Thu Dec 18, 2008 2:36 pm Subject: I had too much tax taken out on the Roth rollover. Now what? |
First of all: coaster, thanks. You pulled the trigger on the "you should seek local help" at just the right time. This was getting pretty hairy.
don - yes, the taxes withheld are a distribution. ... |
| Topic: I had too much tax taken out on the Roth rollover. Now what? |
BlankenshipFP
Replies: 19
Views: 23768
|
Forum: Taxes Posted:
Wed Dec 17, 2008 3:46 pm Subject: I had too much tax taken out on the Roth rollover. Now what? |
| I have never understood that nomenclature either. It's possible that the custodian changes the "type" of account to help them keep track of the "once per 12 months" rollover rule - in practice this a ... |
| Topic: I had too much tax taken out on the Roth rollover. Now what? |
BlankenshipFP
Replies: 19
Views: 23768
|
Forum: Taxes Posted:
Wed Dec 17, 2008 2:32 pm Subject: I had too much tax taken out on the Roth rollover. Now what? |
Just to clarify the facts:
You did a conversion from a trad to a Roth, using the trad funds to pay tax on the conversion. Any funds that did not "make the trip" into the Roth will be considered a ... |
| Topic: Social security tax on a roth? |
BlankenshipFP
Replies: 15
Views: 35752
|
Forum: Taxes Posted:
Tue Dec 09, 2008 7:05 pm Subject: Social security tax on a roth? |
I just meant that you seem to have a good grasp on everything going on in this forum, you nearly "own" it.
I haven't checked out the Bill Sebastian forum - who is Bill Sebastian (no slight intended ... |
| Topic: Social security tax on a roth? |
BlankenshipFP
Replies: 15
Views: 35752
|
Forum: Taxes Posted:
Tue Dec 09, 2008 3:19 pm Subject: Social security tax on a roth? |
It's your forum.  |
| Topic: Social security tax on a roth? |
BlankenshipFP
Replies: 15
Views: 35752
|
Forum: Taxes Posted:
Tue Dec 09, 2008 2:13 pm Subject: Social security tax on a roth? |
| coaster is absolutely correct about the OP's question. Not to pick nits, I just wanted to clarify something about the language: OP is going to perform a "conversion" from a trad IRA to a Roth IRA, n ... |
| Topic: RSI-Snowboard trading strategy |
BlankenshipFP
Replies: 21
Views: 9257
|
Forum: Investing, Stocks and Bonds Posted:
Wed Nov 26, 2008 1:47 pm Subject: RSI-Snowboard trading strategy |
We just get so many that come here, post their trades for a couple weeks, then we never hear from them again.
How prophetic of you, coaster!  |
| Topic: [b]Trying to reduce/eliminate the 10% early withdraw penalty |
BlankenshipFP
Replies: 10
Views: 6793
|
Forum: Retirement Planning Posted:
Mon Nov 24, 2008 2:04 pm Subject: [b]Trying to reduce/eliminate the 10% early withdraw penalty |
| One more thing, Don (hopefully you already knew this): you are only able to make the conversion to your Roth IRA if your MAGI is less than $100k for this year and next. In 2010, the limit is removed ... |
| Topic: [b]Trying to reduce/eliminate the 10% early withdraw penalty |
BlankenshipFP
Replies: 10
Views: 6793
|
Forum: Retirement Planning Posted:
Mon Nov 24, 2008 1:24 am Subject: [b]Trying to reduce/eliminate the 10% early withdraw penalty |
I have just a few moments to answer this, and then I'll get back to any additional questions that may arise...
Okay, in answer to your first question, the 10% penalty in that case is related only a ... |
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