Retirement

Can I get money from my IRA tax free due to Covid-19?

Can I get money from my IRA tax free due to Covid-19? In response to the Covid-19 pandemic, the CARES Act changed several IRA and retirement plan rules for people of all ages. The Act allows qualified individuals to take distributions during 2020 of up to $100,000 penalty-free, but not tax-free, from their IRAs or…

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Can I buy real estate in my IRA?

Can I buy real estate in my IRA? You cannot buy a personal residence in your IRA but you can buy other properties. For most people, it is either not practical or not a good idea. Here a few of those reasons: If the rules are not followed properly and a “prohibited transaction” occurs, the…

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Moisand Fitzgerald Tamayo wins prestigious national award

Moisand Fitzgerald Tamayo Recognized by Schwab Advisor Services with 2019 Trailblazer IMPACT AwardTM   November 4, 2019 – (Orlando) – Moisand Fitzgerald Tamayo, LLC was honored today by Schwab Advisor Services with the 2019 Trailblazer IMPACT AwardTM. The firm was recognized for its efforts to improve the quality of advice, raise the bar for ethics…

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What do I do if I miss my required minimum distribution?

What do I do if I miss my Required Minimum Distribution? Required Minimum Distributions (RMDs) are just that – required. The penalty for failing to take a RMD on time is 50% of the amount of the RMD. That’s one of the harshest penalties in the tax code. Miss a $20,000 RMD and you’ll owe…

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Why is my charitable donation taxed?

Why is my charitable contribution taxed? Well planned and executed charitable donations should result in tax savings. To get the maximum benefit, you must know the rules and how the accounting for donations works. This video Q&A is a great example. The inquirer knew the rule but not the reporting requirements. Making News… We frequently produce…

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Should I buy gold to protect against a dollar collapse?

Should I buy gold to protect against a dollar collapse? No, you should not buy gold for fear of a dollar collapse. As the video discusses, this pitch is rubbish. Heck, you probably shouldn’t buy gold aside from coin collections and jewelry for personal use. Many unbiased experts don’t even consider gold an investment. Once…

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