Monthly Archives: February 2018

Changes to Roth IRA Recharacterizations

For tax year 2018 and after, taxpayers can no longer recharacterize Roth IRA (individual retirement account) conversions under the new tax law. There are three ways to contribute funds to a Roth IRA: a direct contribution, a rollover from a Roth 401(k) or 403(b), and a conversion from a regular […]

Solving the Annuity Puzzle

Americans hold billions of dollars in annuities, yet they are widely misunderstood. Used properly, an annuity can serve valuable purposes in personal financial planning. On the other hand, some types of annuities are widely criticized, even scorned, by some financial advisers.   Lifelong income What might be considered the purest […]

Deducting Employee Business Expenses

If you work for a business, you might incur certain expenses that are related to your job. In some cases, those expenses can be substantial. As of this writing, in late 2017, Congress is considering legislation that would eliminate miscellaneous itemized deductions, but it appears that they will be available […]

Insuring Key People at Small Companies

At a multinational corporation, the loss of any single employee may hardly cause a ripple in its ongoing business. That’s often not true for a small business. If you’re the prime mover, your inability to work could have severe consequences. The same is true if you have partners or other […]

Tax Calendar: February and March 2018

FEBRUARY 2018 February 15 All businesses. Give annual information statements to recipients of certain payments you made during 2017. Payments that are covered include amounts paid in real estate transactions (Forms 1099-S); amounts paid in broker and barter exchange transactions (Forms 1099-B); and payments to attorneys (Form 1099-MISC, if amounts […]