■ RMD: You won’t have to take a distribution from your IRA for 2009 because the Required Minimum Distributions (RMDs) have been suspended for this year only. In Notice 2009-82, 2009-41 I.R.B. 491 the IRS addressed a number of issues created by the waiver of 2009 RMDs. Because these rule changes were enacted so late…
■ What to do with Some Spare Cash: Tax refund, property finally sold, big birthday gift, what should you do with the dough?: ◙ Buy term life insurance. Everyone’s savings and retirement plans and house values have been hammered. If you get hit by a bus tomorrow will your family make it? Buy at least…
Summary: To convert or not to convert, that is the question. Many websites, and even some advisers use simplistic calculators, that don’t do the decision justice. Others use modeling so sophisticated they could be mistaken for space shuttle algorithms. While some advisers bring nearly religious zeal to their views, the realities are that for some…
Summary: Professionals and business owners are often admonished to purchase disability income insurance to replace the income lost if they become sick or disabled, business overhead insurance to keep their practice afloat, and perhaps disability buyout insurance to fund the buyout of a disabled partner. So you’ve paid all 3 premiums dutifully for years and…