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Chris Locher,
CFP(r) |
'Committed to your personal financial freedom and the financial security of your family.'
We strive to provide an independent solution that integrates tax preparation/planning, investment management and lifestyle and family protection to help simplify your financial life. Imagine what you could do with financial freedom? |
Don't miss the IRA contribution Deadline!
You have until April 18th to make your 2010 contribution
If you are under the age of 50 you can make a $5,000 contribution, if you are over 50 you can make a $6,000 contribution.  You may be able to receive a tax deduction for your traditional IRA contributions and your account will grow tax deferred until you begin to take distributions. Roth IRA contributions are not tax deductible but the account grows tax free and the distributions are also free of tax. Your eligibility depends on if you are covered by a retirement plan at work, your filing status and your adjusted gross income. Your contribution has to be postmarked by the 18th to count as a 2010 deduction!
See if you are eligible to make contributions to one or or both types of IRA accounts HERE.
Don't think a tax deferred account makes a difference?
Calculate the effect of tax deferral on your accounts |
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Don't be Scammed by Fake IRS Communications |
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Every year there are reports of people who receive suspicious emails, phone calls, faxes or notices claiming to be from the Internal Revenue Service. Many of these scams fraudulently  use the Internal Revenue Service name or logo as a lure to make the communication more authentic and enticing. The goal of these scams - known as phishing - is to trick you into revealing personal and financial information. The scammers can then use that information - like your Social Security number, bank account or credit card numbers - to commit identity theft or steal your money.
A few things you should know:
1. The IRS doesn't ask for detailed personal and financial information like PIN numbers, passwords or similar secret access information for credit card, bank or other financial accounts.
2. The IRS does not initiate taxpayer communications through e-mail and won't send a message about your tax account.
3.The address of the official IRS website is www.irs.gov. Do not be confused or misled by sites claiming to be the IRS but ending in .com, .net, .org or other designations instead of .gov. 4.
4. If you receive a phone call, fax or letter in the mail from an individual claiming to be from the IRS but you suspect they are not an IRS employee, contact the IRS at 1 800 829-1040 to determine if the IRS has a legitimate need to contact you. Report any bogus correspondence. |
Yes, there really is a tax-free investment!
The interest earned on most municipal bonds is free from federal taxation and most states also exempt the interest from their state and local tax as well. So municipal bonds purchased from your home state could be triple tax free! Municipal bonds may be general obligations of the issuer or secured by specified revenues. You could buy individual municipal bonds or mutual funds that invest in a variety of municipal bonds. Learn more...
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