Meyers Wealth Management News and Notes

Required Minimum Distributions Third in our series of articles related to saving for retirement. Various forms of retirement savings are "tax deferred," meaning that the savings put into them is money on which you've not yet paid income taxes.  This may be because it was pre-tax payroll deductions i

The second in a series on various options for retirement savings.  If you haven't already seen it, you might like to read Saving for Retirement: Traditional IRAs first. Named after the late Senator William Roth of Delaware, who pushed for the creation of this variation on the traditional IRA account

The first of a series of articles addressing how an individual may save in various types of retirement accounts. This article addresses traditional IRAs to which an individual contributes directly.  These are not employer-based plans, though there are some issues with employer-based plans which do a

As discussed in our article "1099s and you," the 2010 Healthcare act introduced a new 1099 reporting requirement for businesses which would have created a substantial new paperwork burden for all businesses and people with self-employment income.  It would have required the issuance of a 1099 to any

There is no single way to save for college which is best for everybody.  The 529 plan, a recent innovation, may be one of the best, but it creates as many questions as answers.  An earlier generation of savers used UTMA and UGMA accounts to save in their kids names in order to save in income taxes a

There are only a few weeks left this year and, as with every year, the year-end represents the last chance to take advantage of various opportunities in our financial world.  Our previous article, "When Losses are a Good Thing" discussed a specific strategy which hasn't really changed much in many y

It's time for year-end tax management moves and there are a variety of strategies to consider this year, particularly with respect to the special treatment of Roth conversions in 2010, the potential expiration of the '01 and '03 tax cuts, not to mention the fact that the Estate Tax is coming back (a

Roth IRA conversions have been in the headlines a lot in 2010, since the income cap for conversions went away.  Fidelity recently did a study, however, and found that only 30% of investors who are eligible for Roth conversions were aware of the ability to undo those conversions via re-characterizati

We've all gotten 1099s.  IRS Form 1099 is any of a variety of reporting forms used when one entity pays another entity under certain circumstances.  A copy goes from the payer to the payee, and the payer also sends a copy to the IRS. Some 1099s you've probably received:  if you have an interest-bear

Roth IRAs are getting to be more and more popular, and for good reason.  We have no certain knowledge about future tax rates, but it seems quite likely that they've no place to go but up.  With a Roth IRA, you pay taxes now on the money that goes in, and in the future, that money -- and whatever it'