February 2010
Issue: 78
Sound, visionary stewardship

Welcome
 
Greetings!

Great news! The days are longer and just a bit warmer. Spring is on it's way. How do I know? I see the buds on my lilac bushes. The hyacinth have just popped through the ground. The autumn sedum and purple liatrus are visible. There are even three inch daffodils against the back of the house!

Ah, the rebirth of a new season. It's not too late to get back on track with your resolutions and goals. Especially your financial ones. We are here to help. If you need us.

Sunset in MadaketLast month I shared a picture of a winter sunrise over Duxbury Bay. I heard from so many of you how much you enjoyed the photo. Thanks!

In New England there aren't a lot of places you get to see the sun set over the ocean. We were fortunate to vacation in Nantucket this fall for my brother's wedding.

If you've ever caught a sunset from Madaket, you know how special it is. Enjoy!


Cheers,
Paula Signature
p.s. Become a Facebook Fan of WH Cornerstone. 

Forward this email to a Friend

From Bill's Corner...

It's IRA time.  There is so much more to think about than just rates of returns when choosing IRA (individual retirement arrangement) options.  Traditional IRAs and Roth IRAs are powerful vehicles for building long-term tax deferred wealth. 

 

Contributions can be made any time during the calendar year to your traditional or Roth IRA contributions.  However, if you contribute between January 1 and April 15, you should tell the custodian, bank or brokerage firm which year (the current year or the previous year) the contribution is for. You can still make a contribution for the prior calendar year if make your deposit by the tax filing date of April 15th. Filing a tax extension does not allow for an extension for traditional IRA or Roth IRA contributions.The IRS gives no extensions or exceptions to this rule, so don't forget!

 

The maximum amount that can be contributed to all IRAs for the 2009 tax year is $5,000.  If you are 50 or older, you can make an additional "catch-up" contribution of $1,000.  You cannot contribute $5,000 to a traditional IRA and $5,000 to a Roth.  The maximum is a combined $5,000. Keep in mind, your compensation may determine eligibility to fund the Roth. The traditional IRA contribution may be deducted on your taxes; the Roth IRA contribution is not deductible.

 

In order to make a contribution, you need earned income which includes: wages, self-employment income or commissions; even alimony counts.  However, interest, capital gains, dividends and unemployment payments do not count as earned income.

 

Earning a high salary does not limit traditional IRA contributions.  However, your tax deductibility may be limited. In other words, anyone may make a contribution, but high-income earners may not be unable to deduct it. Regarding a Roth IRA, the IRS may discriminate against a high salary.  In fact, high incomes may disallow a Roth IRA contribution altogether.  For 2009, the phase-out range for a married couple filing jointly begins at $166,000 ($105,000 for single taxpayers). 


These are just a few of the rules regarding IRA contributions.  The government changes the rules all the time, and it is you're responsibility to know the rules. Contact me if you have questions or need help.


Bill signature
In This Issue
From Bill's Corner...
Time to Share. Create a Buzz.
Your 15-point tax-return checklist
Credit card rewards: 4 new traps
What the new credit card law means for you
12 steps to being a 'Zen millionaire'
11 most-asked wine questions about wine
About us
Time to Share. Create a Buzz.

Did you know about this law that went into effect in 2009?  If a patrol car, emergency vehicle or tow truck is pulled over to the side of the road, you have to change to the next lane (away from the stopped vehicle) or slow down by 20 mph below the posted limit if you are unable to change lanes. Every state except Hawaii, NY, Maryland and D.C. has adopted this law. For more information.
Mike
Mozzarella Maven updates
Teaching. March 10 from 7:00-9:30 in Duxbury, Paula will be teaching you how to make your own batch of homemade mozzarella. Details.

Talking.
March 22 from 7:00-9:00 in Kingston, Paula has been invited by South Shore Edible to be one of several speakers talking about the local dairy movement and cheesemaking. 
Your 15-point tax-return checklist

Face it: The tax fairies aren't going to file your tax return for you. Here's a step-by-step guide to finding and filing those tax forms you've been avoiding.

Credit card rewards: 4 new traps

Credit card reform is prompting issuers to water down their rewards programs. While the well-off will be wooed, the rest of us will face petty new fees and other gotchas.

Read on...

What the new credit card law means for you

Majority of consumer protections started on February 22, 2010

Read on...

12 steps to being a 'Zen millionaire'

The principles of 'inner peace' shared by the unlikely trio of Warren Buffett, Buddha and Vanguard's John Bogle can provide a relaxed guide to investing happiness.

Read on...

11 most-asked wine questions about wine

From the authors of "Tastings", the weekly wine column of The Wall Street Journal.

Read on...
About us

WH Cornerstone Investments, LLC provides wealth management services to a select group of clients. Regardless of their background or future vision, all of our clients commit to a plan that targets their long-term financial growth and stability. While some of our clients concentrate on one part of their investment strategy, others opt for a more holistic approach.

WH Cornerstone clients demand customized objective, expert advice, which they know can come only from a firm that is truly independent-a firm not tied to financial institutions. As an independent Registered Investment Advisory firm, we are fee-only and therefore free from any outside institutional influence.

Cheers
,

Paula Harris and Bill Harris, CFP
WH Cornerstone Investments
781.934.9154
www.whcornerstone.com

Sound, visionary stewardship