Asset Planning, Inc Blog

The latest from the team.

IRA Contributions

While we are deep in the midst of tax season, we thought it was a good idea to remind our clients to get in their 2018 IRA contributions. If you are planning on dropping off a check to us the deadline to get them in is Wednesday, April 10th. This will ensure that your contribution is made before the April 15th tax deadline.

2018 contribution limits are $5,500 or $6,500 if you are over the age of 50

Also, now is as good a time as any to get in your 2019 contributions especially because the limits have been increased. The sooner you get these in the longer they have to grow in your IRA which means more retirement funds for you!

2019 contribution limits are $6,000 or $7,000 if you are 50 years of age or older

When it comes to non-deductible IRA contributions please be sure that you are keeping a record of these contributions by completing tax form 8606 for each year you make a non-deductible contribution. We have run into a few cases where no record is kept, and our clients are left scrambling to find that information when it is time to take distributions from their IRAs. This information will be needed to figure out what amount of your distributions will be counted as taxable income to you, so it is very important.

If you have any questions, please don't hesitate to call us.

Continue reading
  1192 Hits

Search Blogs Module

Wait a minute, while we are rendering the calendar
debt account numbers birth certificates toilet paper offering insurance check lists disaster areas October 1 2020. trustee hurricane Dorian executive order Auto insurance paper records home mortgages Joey Gonzales tax filing deadlines Asset Planning settlement options Medicare DNA test kits car loans fees gap insurance contribution limit chip-enabled EMV cards Mobile Banking Security Tips stock pile fun atmosphere estate planning identity theft insurance policies cell phone service provider IRS “ skimmer ”. breach app email notifications Social Security Administration cell phone carriers offer donation items integral member 4 pm -8pm coronavirus home break-ins ice cream Treasury Department credit cards Two-Step Verification illiegal robocallers health care services trust pet home emergency kit 2018 IRA contributions Victor Dergunov Labor Day business hours blog post cell phone provider money earthquake app phone memorial Day weekend rescue organizations self-help topics emergency kits Medicare Advantage Supplemental Security Income years increase tax returns Open House July weekend July 6 operations manager summer September 30 2020. Federal Trade Commission website vacation insurance policy Expired medications Medicare question 2017 Equifax breach tax records checklists media accounts Wells Fargo employees markets Puerto Rico Kiplinger Letter pet supplies Amazon bottom line client portal text messages identity thieves Fox News story home emergency preparedness kits padlock investment statements cell phones borrowing money paperwork clutter Orange County Superior Court Orange County Economic Security drive /usb parking spots Medicare Part B April 11 driver license clients show support cell phone SIM swap scam https ://seekingalpha Ice Cream Social official certification spam phone records vision screening credit monitoring service information Facebook holidays approach Retirement Contribution Limits Roth IRA Medicare plan tax season documents clients president Trump emergency kit Erin Nelsen Affordable Care Act market turmoil Independence Day https :// January 10 privacy settings CA FTB family members February 14 earnings fallout 900 number National Ice Cream month Part B COVID -19 virus July 3 rd health care costs fun facts EEChecklist-Kits.pdf stockpilingchecklist.pdf items people medications Facebook profile VOIP landline phones retirement planning opt-out tax deadline relief efforts July 4 D premiums credit freeze company April 15 interest rates TD Ameritrade wells Fargo home spread phishing scams credit card company privacy notices portal prescription eyeglasses Charles Schwab partner /owner IRA accounts FSA cell phone carriers 401K Brexit vote student loans April 18 2017. flash drive phone companies retirement plans retirement accounts CARES Act estate pet donation drive emergency folder CERTIFIED FINANCIAL PLANNER exam pets home security consumer spending Part D premiums . 20 year anniversary 2017 TD Ameritrade National LINC Conference banking phishing sites scams Medicare Part B premiums CFP ® Wells Fargo customers June 29 California Lions Friends ID card donation counts Financial Planning Magazine clone counterfeits information credit score Social Security jury duty notary services pet industry Coronavirus Aid IRS deadline Flexible Spending Account Legal robocalls FEMA website card reader Healthcare tax deadlines non-prescripstion sunglasses retirement interest Open Enrollment payments spring cleaning stimulus package estate planning direction September 9 life saver policy 70 1/2. asset Planning 2017 IRA contributions assets water … September 8 web address 23 andme Notary Public Shred paperwork team members house sitter news coverage Kraig Mathias credit card fraud ice cream event