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Economic News Pushes Market Averages Down for August
(McNeely Content/Blog)
... weeks. However, a pledge by Federal Reserve Board Chairman Ben Bernanke that the central bank would take bolder steps to stimulate the economy if business conditions continued to worsen provided a welcome ...
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Stocks Drop Sharply on U.S., Global Economic Worries
(McNeely Content/Blog)
The major financial indices retreated into negative territory for the year Wednesday as a weaker outlook from the Federal Reserve and reports of a slowdown in factory output in China softened investor ...
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Health Insurance in Retirement
(McNeely Content/Blog)
... are most likely eligible for certain health benefits from Medicare, a federal health insurance program, upon your 65th birthday. But if you retire before age 65, you'll need some way to pay for your health ...
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Gift and Estate Tax
(McNeely Content/Blog)
If you give away money or property during your life, those transfers may be subject to federal gift tax and perhaps state gift tax. The money and property you own when you die (i.e., your estate) may also ...
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Immediate vs. Deferred Annuities
(McNeely Content/Blog)
... a 10% federal tax penalty unless an exception applies. ...
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Funding a Business
(McNeely Content/Blog)
... generally requires compliance with federal and state securities laws. Seek the advice of an attorney experienced in these laws before your business issues any stock or securities. Factoring You've been ...
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Social Security Disability Benefits
(McNeely Content/Blog)
... three months before your birthday if you are age 25 or older and not yet receiving Social Security benefits. Eligibility for other state and federal benefits may affect the amount of your SSDI check. ...
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The Roth 401(k)
(McNeely Content/Blog)
... are free from federal income tax when distributed from the plan. (A 403(b) plan can also allow Roth contributions.) Who can contribute? Unlike Roth IRAs, where you can't contribute if you earn more than ...
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Working with a Financial Advisor
(McNeely Content/Blog)
... advisors are not covered by uniform state or federal regulations, so there can be a considerable disparity in their qualifications and business practices. Some may specialize in one area such as investment ...
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Sticker Shock: Creative Ways to Lower the Cost of College
(McNeely Content/Blog)
... abroad. Your child will even be eligible for need-based federal student loans (but not grants), as well as the two federal education tax credits--the Hope credit (renamed the American Opportunity credit ...
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401(k) Plans
(McNeely Content/Blog)
... pay, and transferred to the 401(k) plan, before federal (and most state) income taxes are calculated. This reduces your current taxable income. You don't pay income taxes on the amount you contribute--or ...
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Do you qualify for the new Making Work Pay tax credit?
(McNeely Content/Blog)
... amount. If you qualify for the credit, you don’t really have to do anything. The IRS has issued new federal income tax withholding tables that reflect the Making Work Pay credit. When your employer begins ...
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Health Care Reform
(McNeely Content/Blog)
... that would be completely independent of the federal government) as an alternative to a government-run health-care plan. Paying for reform The costs associated with most of the health-care reform proposals ...
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Recharacterizing IRA Contributions and Roth Conversions
(McNeely Content/Blog)
Recharacterizing IRA Contributions and Roth Conversions Introduction Qualified distributions from Roth IRAs are free from income tax at the federal level. If you convert your traditional individual retirement ...
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Be Sure To Stock Up In Your IRA
(McNeely Content/Blog)
... interest by the federal government. Treasury Bills are certificates reflecting short term (under one year) obligations of the US Government. This material was prepared by Raymond James for use by Timothy ...
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House Rich and Cash Poor
(McNeely Content/Blog)
... half of all senior citizens would fall below the poverty line based on their income. Inflation continues to drive up the cost of food, energy, and, particularly, health care. Federal budget cuts have ...
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How safe is your retirement plan?
(McNeely Content/Blog)
... find their creditor protection in federal law and are generally fully protected – no matter how large. Your IRAs, however, find their protection in state law and, unfortunately, many states do not fully ...
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…and I’d buy a house on the beach in Florida
(McNeely Content/Blog)
... and Texas. Their unlimited homestead protection is a good example of why the federal legislature felt it was time to take action. Faced with a public policy need to assist those in true financial straights ...
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IRAs and 401(k) Plans: Four Strategies in a Declining Market
(McNeely Content/Blog)
... distributions from your Roth IRA will be entirely free from federal taxes. For 2009, you're able to convert only if your modified adjusted gross income is $100,000 or less (this dollar limit applies ...
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Choosing an Entity for Your Business
(McNeely Content/Blog)
... means that your personal assets (e.g., your family's home) can be subject to the claims of your business's creditors. For federal income tax purposes, all business income, gains, deductions, or losses ...
