Tax

Nine Key Tax Rules That Will Affect Advisor Clients Now That The Supreme Court Upheld The Affordable Health Care Act

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by robertkeebler     June 28, 2012      0.0 (0) How will the Supreme Court decision upholding the health care bill affect your clients? Here are the nine key tax rules that financial advisors need to know about.

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Keebler & Associates Client Receives Favorable 60-Day Ruling

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by robertkeebler     June 07, 2012      0.0 (0) In PLR 201221036, the Internal Revenue Service addressed whether an attempted IRA rollover was a distribution since more than 60 days passed between the distribution and deposit into the new account.  The IRS granted a waiver to a Taxpayer who withdrew funds from his IRA to rollover to an account with a better interest rate, only to bec

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IRS Grants Relief to Taxpayers Who Forgot To Re-Characterize Converted IRAs

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by robertkeebler     May 18, 2012      0.0 (0) In PLR 201218037, the Internal Revenue Service (the Service) addressed whether it would allow taxpayers who converted their SEP and Traditional IRAs to Roth IRAs additional time to re-characterize after their CPA discovered their modified gross income exceeded the limit for conversions, reported the IRAs as re-characterized, but failed to not

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9th Circuit Rules IRAs Cannot Be An S-Corp Shareholder

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by robertkeebler     March 30, 2012      0.0 (0) In Taproot. v. Commissioner the Ninth Circuit Court of Appeals determined that a Roth IRA (and traditional IRAs) is not an eligible S corporation shareholder.   Taproot is a Nevada corporation which elected S corporation status in 2003. In 2003, Taproot’s sole shareholder was a custodial Roth IRA account for the benefit of Paul

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Baucus Proposal To Liquidate IRAs Within Five Years Of Death Meets Its Own Death

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by robertkeebler     March 21, 2012      0.0 (0) In one of the more perplexing legislative chain of events it appears that Senator Max Baucus’ proposal that IRAs must be liquidated within five years of death has met its own death, at least for now.

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