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From monthly archives: September 2018

We are pleased to present below all posts archived in 'September 2018'. If you still can't find what you are looking for, try using the search box.

Should You Increase This Year’s Tax Bill? The Case for a Roth Conversion

Should You Increase This Year’s Tax Bill? The Case for a Roth Conversion
By: Chris Hostetler With a long-term view of tax planning, the goal is to reduce tax payments over time, not necessarily this year. It might actually make sense to pay a little extra now if it means you can save more money later. One of the best ways to do this is with a Roth conversion. To understand this strategy, you have to be clear on the different tax treatment between the two main types of IRAs: Traditional IRA – contributions are generally tax deductible, and then growth is tax deferred. You pay taxes when you take money out through a distribution. You can usually begin taking distributions after age 59 ½, but you MUST begin taking yearly Required Minimum Distributions at age 70 ½. Roth IRA – you get NO tax deduction for your contributions. But the account grows tax free, and you can take distributions tax free. Furthermore, you never have to take Required Minimum Distributions during your lifetime – you’re welcome to leave these tax-free funds to yo ...

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Florence is Coming. Be Prepared.

Florence is Coming. Be Prepared.
By Chris Hostetler You've got your water, bread and flashlights ready to go, but what about the documents you may need in case of an emergency? I never recommend panicking, but a little preparation now can save you headaches later. Avoid the paper chase by using our handy document checklist. Natural Disaster Document Checklist Insurance Homeowner's Insurance Policy & Policy Number Flood Insurance Policy & Policy Number Contact Information for Your Insurance Agent Inventory of Valuable Household Goods (including receipts if you have them) Investments Stock and Bond Certificates Financial Account Numbers General Tax Records Birth Certificates Passport Copy of Driver's License Copy of Credit Card(s) Family Contact Information for Important People Sentimental Documents (diploma, certificate, photographs, etc.) It is best practice to keep these documents in a waterproof container and in a central location that ...

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