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Should you invest in a real estate investment trust (REIT)? What about a fixed indexed annuity or structured notes? What can be done about an indexed universal life insurance plan purchased by an employer to replace a defined benefit plan? Plus, understanding qualified small business stock gain exclusion. Joe and Big Al also discuss the […]
Drilling down into the specifics of retirement distribution strategies: dollar cost averaging, pro-rata withdrawals, and buckets vs. the total return approach. Plus, a retirement withdrawal strategy with a side of pension and Social Security, another mortgage payoff question, the small business solo 401(k) trap, an LLC for a kayak side-hustle, and FIPhysician.com says nice things […]
If you’re thinking of paying off your mortgage, Joe and Big Al can help you walk through your investing and tax strategy first. Plus, after maxing out your retirement accounts and health savings account (HSA) and owning rental real estate, how else should you save for retirement? (Hint: brokerage account.) As a self-employed small business […]
How do you report a backdoor Roth IRA conversion over two tax years, and is there a point at which the backdoor Roth just doesn’t make sense? Plus, more strategizing for your Coronavirus related distribution, stimulus (and possible future stimulus) tax planning, and your self-employed, small business retirement plans. Subscribe to the YMYW podcast Subscribe […]
Strategies for investing in dividend-paying stocks and how the pro-rata rule for Roth conversions work with dividends. Plus, Wealthfront, M1, Paul Merriman, Vanguard? Should young investors use a robo-advisor or pay for financial advice? Joe and Big Al also offer thoughts on a Vanguard portfolio for retirement and ideas for young entrepreneurial small business owners […]
How much of your money should you keep in cash? Should you buy VBK, the Vanguard Small-Cap Growth ETF? Plus, asset allocation and asset location, the pros and cons of the Roth 401(k), Medicare, spousal and survivor Social Security benefits, tax-saving charitable giving, small business strategies, who qualifies to be called Joe Anderson’s “peer,” and […]
Merry Christmas! Just in time for the holidays, the Setting Every Community Up for Retirement Enhancement Act, or SECURE Act, has been made law, effective January 1, 2020. Joe and Big Al explain what it means for your stretch IRAs, required minimum distributions, retirement savings and more. Plus the fellas answer your questions on self-employed […]
How do you figure out the break-even point on a Roth IRA conversion? Joe and Big Al discuss whether to convert, how much to convert, and when. Plus, the step-up in basis on a primary residence, self-employed small business retirement plan options, the difference between a financial advisor and financial planner, and defining a registered […]
This week’s questions all revolve around what to do with your money – and everyone’s circumstances are different. What to do with a 401(k) after you retire and don’t really need the money just yet? What to do with cash in savings? Is the Papa Bear portfolio a good one? How best to save for […]
Saving money on your tax bill can be easier if you own a business. If you are an employee, you may feel like there is almost nothing you can do. But help is on the way! Financial professionals Joe Anderson and Alan Clopine explore the tools and strategies you can use to keep more of […]
Baby boomers are reinventing what it means to be retired. Today retirement is often about keeping active, emotional fulfillment and more and more about working in a new Gig Economy. Whether you’re looking to supplement your income or just want a job to keep your stimulated, financial professionals Joe Anderson and Alan Clopine break down […]
Starting your own business in retirement can mean having retirement plans available to you that were not available before you joined the Gig Economy. Financial professionals Joe Anderson and Alan Clopine explain the tax benefits from various retirement plans ranging from a defined benefit plan to a SEP IRA. Click here to watch the full […]
CHAPTERS Self-Employment Tax Filing Tax Cuts & Jobs Act: 5 Things Affecting Small Business Owners The Qualified Business Income (QBI) Deduction Small Business Retirement Plans Self-Employment Tax Filing As a small business owner, you may be required to file an annual business tax return to report your income, expenses, and profits (or losses). The […]
How the most volatile month of the year affected Spotify and Apple, and how to avoid volatile markets and sequence of returns risk affecting your required minimum distributions. Plus, should a self-employed small business owner contribute to a solo Roth 401(k)? If you max your Roth IRA contributions and receive a company match, is that […]
Being self-employed has a lot of appeal, giving you the flexibility of your own calendar. However, for the self-employed business owners, there are some additional taxes you need to be aware of. It’s a Self Employment Tax and it consists of two parts Social Security Tax and Medicare Tax. Make sure to subscribe to our […]
