Guest post by Eva Benoit If you are a stay-at-home mom, it’s likely you aren’t short on work. However, many stay-at-home parents miss the challenges that come with a job including the financial compensation. What you need is a flexible home gig that allows you enough time to handle your household tasks while helping you […]
All retirement account owners must be familiar with the required minimum distribution (“RMD”) rules applicable to their accounts. These rules require you, in most instances, to take partial distributions from your retirement account when you reach age 70 ½. And, surprise, the rules for Traditional IRAs, Roth IRAs, and 401(k)s differ. In fact, even 401(k)s […]
Self-Directed IRA investors should be aware of the following IRA tax reporting responsibilities. Some of these items are completed by your custodian and some of them are the IRA owner’s sole responsibility. Here’s a quick summary of what should be reported to the IRS each year for your self-directed IRA. IRA Custodian Files Your IRA […]
Guest article by Jamie Moulton With the rise of any investment, people tend to ask themselves whether it is the best investment mean. What are the opportunity costs? And should they exit other investments and pour their savings in this mean? All these questions are being asked again these days while we are seeing bitcoin prices […]
Dmitriy Fomichenko, President of Sense Financial Services LLC, a leading provider of self directed Solo 401k and IRA with checkbook control, has been accepted into the Forbes Finance Council, an invitation-only community for executives in accounting, financial planning, wealth and asset management and investment firms. Dmitriy Fomichenko joins other Forbes Finance Council members, who […]
Guest article by Rae Steinbach When saving money for retirement in a 401(k), IRA, or similar account, most people assume those tax-deferred funds will always be safe and available. Unfortunately, this isn’t universally the case. Several states fail to protect the money in certain accounts, such as IRAs, from being collected if the account holder […]
Guest post by Jim McKinley As you get older, you may be tempted to start cutting back on your expenses. After all, if you are living on a fixed income after retirement, you may not have the extra money needed to go on trips or take part in other pricey activities. However, that does not mean […]
“If you’ve got a talent, protect it.” ~ Jim Carrey, American-Canadian Actor If you’re a small business owner or professional, it is important to safeguard your interests when working on a project. It starts by protecting your rights and assets. As a contractor or small business owner, it’s important to put an independent contractor agreement […]
In its latest cost-of-living adjustments to retirement contributions, the IRS has good news for 401k plan holders, SEP plan participants, and some other profit sharing plans. We decided to put together a simple Infographic to help you catch up. Revised contribution limits for 401k Retirement Plans in 2018 SEP Plan: SEP plans have got a […]
“Know what you own, and know why you own it.” ~ Peter Lynch Planning for retirement isn’t exactly a topic urging many to think. While some experts may question the retirement crisis, the average American is worried about his retirement. According to a recent report from the National Institute on Retirement Security, at least 76% […]
