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
  1006 Hits

Search Blogs Module

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