ROB D CPA, Inc.-Wacky Wednesday -taxes

Hello and happy Wednesday already.  Have to love short weeks, you just get wound up and you make it to Wednesday then you are on the way to another weekend.  We hope everyone had a nice long holiday weekend.  On this summer like Wacky Wednesday we bring you this cartoon and say have a great day!  Talk to you again soon, Friday for Financial Friday.

ROB D CPA, Inc.-Memorial Day weekend

Hello and happy Friday.  Some of you may have started your weekend already and are looking forward to a super long weekend.  Please note: we are closed on Monday.  We are taking a break from Financial Friday this week instead to wish everyone a great, safe long weekend.  For many Memorial Day weekend means the unofficial kick off to summer but  let us not forget what Memorial Day is,  take a moment to thank all the men and woman in the services. 

ROB D CPA, Inc.-Wacky Wednesday- Allergies

Can anyone relate to this Wacky Wednesday?  Too many allergens in the air.  I can tell you in my house we are all sneezing, coughing, running nose and eyes, even the dog.  Mother nature cruel once again.  You make us wait all winter long then you give us allergy season. 
Hope you have a good Wednesday all!

ROB D CPA, Inc.-Motivational -Be Positive

Morning, hope it was a nice weekend.  Stay focused on your tasks this week and before you know you will be at Friday again.  This is our bit of motivation for today.  Sometimes it is hard to be positive but we all have the power to change our attitude, sometimes it just requires digging deep and intentionally thinking good things.  Have a great day!

ROB D CPA, Inc. Financial Friday-Newsletter

Hello and Happy Friday.  It is that time we bring you our Financial Friday, but it is also that time of the month our newsletter comes out so our Financial Friday for the week is our newsletter.

Please check it out, http://www.robdcpa.com/newsletter.php

Also, please remember it is easy to subscribe to it.  Just visit our website at www.robdcpa.com and leave us your e-mail. 

Thank you and have a great weekend.

ROB D CPA, Inc.-Wacky Wednesday-Cats

Can everyone say "aww"  What is better than a Wacky Wednesday with cute cats.  Hope everyone has a good Wednesday.

ROB D CPA, Inc.-Motivational Monday-Happy Monday

Good Monday morning to all on this beautiful morning.  It is much easier to get up and get going when you wake up to warm temps, blue sky and chirping birds.  Wishing all a great week ahead.

ROB D CPA, Inc.-Financial Friday-Record Rention

Hello and happy Friday.  Almost the weekend, hope it is enjoyable maybe in the last few hours of your work week or over the course of the weekend you can check out our Financial Friday tip of the week, it comes from our website, http://www.robdcpa.com/taxretention.php
Enjoy, talk to you on Monday.

ROB D CPA, Inc.-Wacky Wednesday- What day is it?

I know, I know it is a old now but still give me a chuckle so we are going with it.  Hope your day is a good one.  The race for to the weekend is now on.  Talk to you on Friday.

ROB D CPA, Inc.-Motivational Monday

Hello and happy , hope you had a nice weekend.  If you are having a hard time starting this week, here is your little pick me up.  The weather should help too.  Have a great week!

ROB D CPA, Inc.-Financial Friday- Inerited IRA

The loss of a loved one is hard.  So much to think about, so many things to do, how do you know what is right, it can all be very stressful.

Read this over and keep it in your back pocket so when/if the time comes you may have to make a decision like this you have information on your side.
 

Inherited IRA: What Choice to Make?

1. Roll over the inherited assets into your own Tradition IRA.

The benefit of this is that both the amount and the timing of minimum required distributions (MRD) are based on your own age

This is beneficial if:

• If you are younger than your spouse and your spouse died after age 70.5 
•  Older than 59.5 or you do not need access to these assets until you reach age 59.5

2.               Transfer your inherited assets to an Inhered IRA.

This is beneficial if you are not concerned about creditor protection issues and are:

• Older than your spouse and your spouse died before age 70.5
• Younger than age 59.5 and you need to access these assets immediately

3.               Roll over and convert inherited IRA assets to your own Roth IRA.

• This is most likely to be advantageous if you expect higher taxes in retirement and you can afford to pay the taxes with funds from other sources
• This option has potential for tax-free growth of assets and no MRDs during lifetime of the original owner
• Taxes will need to be paid on the amount converted from the non-Roth IRA into the Roth IRA

4.               Disclaim all or part of your inherited assets

This is beneficial in the following situations:

• You don’t need all or some of these assets and you’d like a younger beneficiary to be able to maximize the potential for tax-deferred growth by stretching distributions out over his or her lifetime
• The decedents estate was not structured ideally for tax purposes

5.               Leave the assets in the plan.

• If you inherited a workplace savings account, the plan from which you are inheriting assets may allow you to leave those assets in the plan

Details vary by plan so it is important to discuss and know your plan in advance.  As always keep copies.