by Bruce E. Bell | Aug 3, 2020 | Bruce E. Bell, Insights, Tax Corner
Question:       I took my required distribution from my IRA early in 2020. Now that the new tax law suspended the required distribution rules for 2020, is it too late for me to undo what I did? Answer:          You still have the opportunity to benefit from the new...
by Bruce E. Bell | Jul 1, 2020 | Bruce E. Bell, Insights, Tax Corner
Question:       With the past and perhaps an impending  further drop in the stock market, does it now make sense to convert my traditional IRA to a Roth IRA? Answer:           The recent stock market drop represents an opportune time to convert an existing...
by Bruce E. Bell | Jun 1, 2020 | Bruce E. Bell, Insights, Tax Corner
Question:       My wife lost her job as a result of her company downsizing during the pandemic and our family is now down to one income.  Is there an effective way to tap our retirement accounts for the shortage of funds we now have without undue tax cost? Answer:...
by Bruce E. Bell | May 1, 2020 | Bruce E. Bell, Insights, Tax Corner
Question: With the recent stock market decline, does it make sense for me to sell stocks that have decreased in value to create losses for tax purposes and then buy back the same positions? Answer: Â Â If you sell a security at a loss and you in turn repurchase the same...
by Bruce E. Bell | Apr 1, 2020 | Bruce E. Bell, Insights, Tax Corner
Question: Any suggestions on how to deal with the new rules on accelerated distributions for inherited IRAs? Â Â Â Â Â Â Â Â Â Â Â Â Answer: Â Planning opportunities remain despite the new tax law. Â The Setting Every Community up for Retirement Enhancement Act of 2019 (the...
by Bruce E. Bell | Mar 3, 2020 | Bruce E. Bell, Insights, Tax Corner
Question:       I recently accepted a job with a startup company and was given shares of company stock at no cost to me in which I will vest over a period of years. Do I have to pay tax on the shares I receive? Answer:          As with most employee benefits which...
