IRAs, Taxes and Other Questions

March 11, 2017

For the first hour, Jim, Chris and Peter Scott answer questions related to Estate Planning: How do you deal with the tax paperwork if you have a Traditional IRA and a Roth IRA in a sub-trust where you are a trustee and a beneficiary? Also, would it be wise to buy a widowed parent’s house and have the parent finance the loan as a way to financially help the parent and get a tax writeoff on the mortgage payment? Jim and Chris also tackle other IRA questions: If an American citizen is living and working overseas, is there any way to max out Roth IRA contributions if the US earned income is low? What are the rules for starting a Roth IRA for a child? If you take a post-tax 401(k) balance and roll it into a Roth IRA, will you end up being taxed on that money again if you already have another IRA in your name with a pre-tax dollar balance?

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Jim Saulnier and Associates | 970-530-0556 | 506 East Mulberry Street, Fort Collins, Colorado 80524

Jim Saulnier, Registered Representative, Securities offered through Cambridge Investment Research, Inc., a Broker/Dealer, Member FINRA/SIPC to residents of: CO, IA, IN, MA, NY, TN, TX, WI and WY. No offers may be made to or accepted from any resident outside the specific states mentioned. Jim Saulnier, Investment Advisor Representative, Cambridge Investment Research Advisors, Inc., a Registered Investment Advisor. Financial Planning services offered through Jim Saulnier and Associates, LLC., a Registered Investment Advisor. Cambridge and Jim Saulnier & Associates, LLC are not affiliated.