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?

Check out the background of firms and investment professionals on SEC’s Adviser Info Page.

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

Ed Slott Advisor recognition requires an advisor to be well versed on the rules and regulations regarding IRAs. The advisor must attend two live training sessions and pass two written exams annually to remain in the program. Jim Saulnier & Associates, LLC (“RIA Firm”) is a registered investment adviser located in Fort Collins, CO. Jim Saulnier & Associates, LLC may only transact business in those states in which it is registered, or qualifies for an exemption or exclusion from registration requirements. Current registered states: CA, CO, PA, TX, WA, IL Insurance products and services are offered and sold through James H. Saulnier, a Colorado licensed insurance producer, only in those states in which he is reciprocally licensed or qualifies for an exemption or exclusion from licensing requirements. Current reciprocal insurance licensing in these states: AZ, CA, CA, CN, FL, HI, IA, MA, MD, NY, PA, SC, TN, TX, VA, WA, WI, WY Click here for a more detailed disclosure.