It’s not too early to think about 2011 taxes
WASHINGTON — The Bush-era tax cuts have been extended, the alternative minimum tax is patched and capital gains rates are set.
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www.rothira-advisor.comNoted retirement planning expert James Lange shares some of his tips on how to plan for retirement and beyond. Jim has dedicated his life to helping others achieve their goals for a healthy and happy retirement.
Retire Secure! tackles the number one fear facing most IRA and retirement plan owners:Â running out of money too soon. Lange, a nationally recognized IRA expert, offers specific and practical strategies to successfully navigate the three stages of retirement planning: accumulation, distribution, and estate planning.
Retire Secure! explains the tax advantages and long term wealth building strategies of selectively and strategically putting money into IRAs, Roth IRAs, 401(k)s, Roth 401(k)s and the myriad other retirement plan options available to individuals working in the corporate world, the non-profit sector, as well as individual proprietors. The book proves that putting money into tax advantaged retirement plans beats â€œtraditional savingâ€ in the after-tax environment.
The book sheds new light on best practices for spending your IRA and retirement plan dollars and your traditional savings. Many readers will be surprised to discover that the order in which assets are spent is not a trivial considerationâ€”it can make or break the bank.
It also outlines Lange’s exceptional estate plan-a plan that has been featured in the Wall Street Journal and many other fine financial journals.
The book offers financial planning strategies and tactics in plain English that everyone can understandâ€”and using humor and interesting characters in real life situations the book escapes the dreaded dry financial tome tone. For example, Chapter 1 offers a great mini case study that charts the financial destiny of Mr. Pay Taxes Later and Mr. Pay Taxes Now. Both start saving when they are age 30, but when Mr. Pay Taxes Now reaches age 90, he is broke, while Mr. Pay Taxes Later has $1,946,949 left. Chapter 8 is devoted to a complete case study of â€œEddie’s and Emily’sâ€ entire retirement decision making process.
The book is endorsed by more than 31 leading financial experts including Charles Schwab, and Roger G. Ibbotson, Yale Professor and perhaps the world’s foremost authority on asset allocation. As a bonus, readers who purchase this book can receive a free information-packed CD.
“Retire Secure! is your playbook for winning the retirement game and beyond. It shows you how to capitalize on little known provisions of the tax law that will make your retirement savings last several lifetimes, leveraging your hard earned money into a family legacy. Best of all, you can rely on the advice here since it is written by one of the nation’s leading retirement tax planning authorities.â€ Ed Slott, Author Parlay Your IRA into a Family Fortune and
The Retirement Savings Time Bombâ€¦and How to Defuse It
James Lange (Pittsburgh, PA) , an attorney and CPA, is a nationally known IRA, 401(k), and retirement plan distribution expert with over 27 years of experience. His recommendations have appeared 23 times in theWall Street Journal as well as the New York Times, Newsweek, Kiplinger’s, and many other prestigious financial publications.
sue is an architect for a local firm where she receives as annual salary. she also does interior design out her home office. for 2007 sue’s gross income consisted of 70,000$ in salary and her scheduale C bottom line of $ 50,000. these are the only items affecting lines 7-22 of sue’s 2007 form 1040
supply a written answer to the following questions showing well-labeled computations.
1- What was Sue’s total income in 2007?
2-what was Sue’s adjusted Gross Income in 2007?
3-could sue make an IRA contribution?
4-could Sue take a deduction for both an IRA and a SEP( or similar)?