Obama wants to tax your employee benefits, including your medical care.
Obama wants to tax the medical insurance of Americans with jobs to pay for coverage for people without insurance.
Danger: Flexible comp may not survive Obama's healthcare reform
The plans advanced by President Obama and Congress would eliminate flexible benefit plans, raising the cost of healthcare for millions of employed Americans. Get ready to fight now, before it's too late.
Save your flexible benefits plan! The Obama Administration and Congress are considering ending them
As part of healthcare reform, the Obama Administration and Congress are seriously considering eliminating flexible spending accounts and similar plans.
Meridian Management Group Names Terry Watterson as Vice President to Head Personal Expense Protection Division
Meridian Management Group, LLC today announced that Terry Watterson has been named Vice President of Meridian's new Personal Expense Protection division. Mr. Watterson brings 17 years of insurance experience to his position, where he will focus on providing supplementary products to customers in the financial, housing, transportation, education, insurance, retail, association, and travel industries.
With Gilsbar's 360Ú Approach to Benefit Plan Management, No Crystal Ball is Needed
Gilsbar, Inc., a leading third party administrator and insurance services provider, developed a service delivery model (360Ú Benefit Plan Management SM) two and a half years ago that removes the barriers to controlling healthcare costs for employers. This thought-leading approach is resonating throughout the country as proven by Gilsbar's record setting growth over the last 12 months.
TASC Partners with Unity Benefit Services, Inc.
TASC and Unity Benefit Services, Inc. have joined forces to provide quality employee benefit programs throughout Tennessee and the nation.
Cypress Benefits Chooses the LuminX Benefits Management System
Cypress Benefit Administrators has signed a contract to use the LuminX benefits management platform to administer its self-funded business. Cypress, a large third-party administrator and medical risk management company headquartered in Appleton, Wisconsin, will be converting their headquarters' operation over from the Eldorado platform to LuminX.
Verifications, Inc. Names George Ellis Executive Vice President of Substance Abuse Services
Ellis to lead Verifications? Substance Abuse Services team.
ILSA Releases New Blackberry App that Allows Agents to View License Status Anywhere
Insurance agents and brokers can access valuable licensing and compliance information remotely with a new, one-of-a-kind Blackberry app that shows real-time license status information.
Aegis Administrative Services Receives 2008 Best of Chicago Award
U.S. Local Business Association's Award Honors the Achievement
NFL Legend and Humanitarian Nick Lowery Joins Charitable Profit Arrangement
At a time when the economy is forcing families, businesses and nonprofits to rethink their priorities, the Charitable Profit Arrangement Inc. has emerged to literally change the playing field in Philanthropy.
NEOS Consumer Driven Healthcare Upgrades its Self Service Account Administration
NEOS consumers are empowered with real time financial information enabling them to self-direct their healthcare. Electronic linkage to financial institutions provides consumers with the flexibility to pay for qualified medical expenses.
LOTSolutions Partners with Heritage Union to Provide Comprehensive Administrative Services
LOTSolutions, an industry leader in the strategic marketing, manufacturing and administration of financial products and solutions based in Jacksonville, FL, has been selected to serve as the Third Party Administrator (TPA) for Heritage Union Life Insurance Company based in Richmond, VA, announced Robert Fullington, President of LOTSolutions.
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Be free of federal income tax forever using the Roth IRA
Tax Free Forever September 29th, 2009 by A word today about the Roth IRA. This little known investment is probably the most significant financial tool available.
With the traditional IRA you get a tax deduction by using before tax dollars to fund your investment. The money grows tax free until you take your distributions. The theory is that you will be in a lower tax bracket when you retire, so your distributions will be taxed at that lower rate.
With the Roth IRA, your investment is made with after tax dollars, eliminating the deduction. The money grows tax free within the IRA until you take your distributions, but at this point your distributions are tax free. There are some conditions that apply, but careful planning will achieve a tax free result.
SELF DIRECTED?
Many brokerage firms offer what they call self directed IRA’s, but these instruments are only self directed in the sense that they offer you a choice from a limited menu of options. A truly self directed IRA will allow you to invest in anything not prohibited by IRS rules.
PROHIBITED INVESTMENTS
It should go without saying that anything illegal will not be allowed. There are some specifically prohibited transactions:
» You may not engage in self dealing. » You may not invest in collectibles » You may not operate a business in your IRA CONTRIBUTION LIMITS
Presently, the maximum allowable annual contribution is $5000, with an additional catch up contribution of $1000 allowed for persons 50 years of age or older. The maximum advantage comes not from the annual contribution, but from the tax free treatment of your investment gains. The sizeable gains available from prudent real estate investments can be magnified by tax free status. Yes, you can own and invest in real estate and real estate related products in your IRA. More about that in a later edition.
THIRD PARTY ADMINISTRATORS
You are required to house your IRA with a third party administrator called a Custodian. There are only a handful of companies in the country that will serve as custodian for a truly self directed IRA. My IRA is administered by Equity Trust, who I highly recommend. Visit their website, www.trustetc.com, and spend a few minutes getting acquainted. Not only is there a wealth of information, there is a toll free number you can call to get more information, since I can only touch on the highlights here.
One other thing, IRS rules require your Roth IRA to be in existence for 5 years before your distributions can be considered qualified for tax free treatment. I suggest that you consider a Roth IRA at your earliest convenience
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