Amended Tax Breaks for Georgia’s Senior Taxpayers
Certified Public Accountant Tammie Hendricks joins Bil Lako, CFP® and Ted Parrish, CFA announcing good news about increased tax breaks for Georgia’s seniors.
2011 IRA Contribution Limits
There are several qualifications to make a contribution to either a Roth or a Traditional IRA. The first is that you must have earned income. Whether married filing jointly, or a single individual, there are income and contribution limits for both types of IRAs. For more information about the 2011 IRA contribution limits and laws regarding them, read this Financial Strategy.
Opening an IRA for a Child
C.P.A. Kathy Moore-Nietrzeba joins “Money Talks” to answer a listener’s question about establishing an IRA for his child.
To Convert or Not to Convert
For 2010, the AGI restriction on converting a traditional IRA to a Roth IRA will be lifted. This will allow your wealth to grow tax-free, with no required distributions. For more information on converting a traditional IRA to a Roth IRA and one important caveat to take into consideration when doing so, read this C.P.A. insight
Retirement Plans
Companies can choose from several different types of retirement plans, each with a varying levels of complexity and involvement in the way of employer contributions. For more information on the contribution limits and requirements for several common plans, read this C.P.A. Insight.
SIMPLE Plans Really Are Simple
SIMPLE plans have eligibility and contribution requirements like most other employer-sponsored retirement plans, however, they allow employees to save a generous amount for retirement. For details on the types of SIMPLE plans and some of the rules that govern them, read this C.P.A. Insight.
Small Business Owners—Don't Forget Your Retirement Plan
Small-business owners have excellent opportunities to save for retirement, often with tax benefits for the business. Read more in this week’s Tax Tip.
Women and Retirement Planning
According to the latest Census Bureau wealth study, in the critical 55-to-64 age bracket, when household wealth typically builds to its peak before being drawn down in retirement, the median net worth for married couples is about four times higher than that of singles.
Early Retirement Offers
An early retirement offer may sound like a blessing, but before you accept, the “Money Talks” hosts discuss how it may affect your future financially.
Social Security and Medicare Figures for 2012
The Social Security Administration has announced that for the first time since 2009, a cost-of-living adjustment (COLA) will be paid to Social Security beneficiaries and Supplemental Security Income (SSI) recipients. Monthly benefits will increase 3.6% starting in January 2012 for Social Security beneficiaries and starting on December 30, 2011, for SSI recipients. Read more in this Financial Tip.