The IRA is a great retirement savings vehicle; money grows on a tax-deferred basis and that’s a good thing. Eventually, though, you have to pay the IRS piper when you choose to withdraw funds for retirement or when you’re forced to withdraw the Required Minimum Distribution at age 72.
Let’s...
By Rafael A. Perez, Esq., Partner at McArdle, Perez & Franco P.L. and Chief Compliance Officer at Alhambra Investments
Introduction: Over the past several decades of practicing real estate law I have had many clients, both domestic and foreign, ask me to apply for an extension of a like-kind exchange...
Everyone, or at least all the right-thinking people, believes that capitalism needs to be reformed. Elizabeth Warren calls her version Accountable Capitalism. Marco Rubio dusted off an 1891 speech by Pope Leo to advocate what he calls Common Good Capitalism. Both are attempts to correct what these lawyers see...
The desire to leave a legacy when you depart
this world has always been the reason to do estate planning. Until now, that’s
been enough. But in today’s world of technology, few people are considering
what to do with their digital assets—Facebook accounts, Twitter accounts, your
business website, online banking. What happens to...
Being
elderly in America has more than its share of issues—affording proper
healthcare, being forced to work much longer because of the need for health
insurance or not having saved enough for retirement. Now, throw one more financial
demon into the mix. More and more elders are being forced into bankruptcy.
In 1991, elder...
Since the Roth IRA was created by the Taxpayer Relief Act of 1997, it’ been an appealing addition to retirement planning. While contributions to a Roth are not tax-deductible, the trade-off is tax-free and penalty-free withdrawals after you cross the age of 59 ½. The withdrawal benefit is one...