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Jim Blankenship

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Contributor's Links: Blankenship Financial Getting Your Financial Ducks In A Row
Through intensive study, Jim has become an expert in working with IRAs and other retirement plans. In addition, Jim has taken the extra steps to become an Enrolled Agent, which means that he is enrolled to practice before the IRS. Adding to these specialties, Jim is an expert in working with ...more
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49 to 64 of 77 Posts
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Social Security: Average Indexed Monthly Earnings (AIME) Explanation
Monday, April 30, 2018 5:00 AM EDT
One of the key components that the Social Security Administration uses to calculate your Social Security retirement benefit is called the Average Indexed Monthly Earnings, or AIME.
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Converting Directly From A 401(k) To A Roth IRA
Monday, April 16, 2018 11:29 AM EDT
Back in the olden days prior to 2008, it used to be against the rules to convert funds directly from a 401(k) plan to a Roth IRA.
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Early Withdrawal From Retirement Plans
Wednesday, March 28, 2018 10:58 AM EDT
An early withdrawal from your retirement plan is not without consequences – there will be taxes for sure, and quite possibly penalties.
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Wash Sale Rules
Monday, March 19, 2018 12:30 PM EDT
In a nutshell, a wash sale occurs when you sell a security (stock, bond, or mutual fund, for example) at a loss, either followed by or preceded by a purchase of substantially the same security within 30 days of the sale.
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Disclaiming An Inherited IRA
Wednesday, February 28, 2018 8:28 AM EDT
An individual may disclaim an inherited IRA to keep from loading one beneficiary’s estate with too many assets. Or maybe to even things out, make it more equal, for all common beneficiaries.
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Exemptions And Dependents For 2017 Tax Returns
Monday, February 12, 2018 10:57 AM EDT
It is important to know and understand who can be claimed as a dependent, as well as who can generate a personal exemption for your taxes.
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New Deadline For Rollover Of 401k Loan Distributions
Monday, February 5, 2018 12:31 PM EDT
Under the newly-passed Tax Cuts and Jobs Act of 2017 (TCJA), there has been a slight change for folks who have taken loans from their workplace retirement plan and subsequently left the job before paying the loan back.
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Roth Recharacterization Is No Longer Allowed
Monday, January 8, 2018 7:29 PM EDT
If you convert funds from an IRA or 401k into a Roth IRA account, you no longer have the back-out option available to you. The verbiage as to exactly when is still unclear.
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Income ≠ Wealth
Friday, December 29, 2017 9:55 AM EDT
There’s a big difference between income and wealth. Income can be considered the amount of money an individual earns on a consistent basis.
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7 Mistakes With Stretch IRAs
Monday, November 27, 2017 2:12 PM EDT
The stretch IRA, when implemented properly, can be a great vehicle for transferring wealth to your heirs. Using this method, you pass along the tax-deferred status of the account until it is withdrawn, which may be much later.
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A SIMPLE Kind Of Plan
Monday, November 20, 2017 11:39 AM EDT
The SIMPLE Plan is a type of retirement account for small businesses that is simpler (ah hah!) to administer and more portable than the 401(k) plans that are more appropriate for larger businesses.
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Social Security Changes For 2018
Friday, November 10, 2017 12:27 PM EDT
In 2018, there will be some slight changes to Social Security. For individuals receiving benefits, there will be a cost of living (COLA) increase of 2 percent.
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Your 401k And IRA In 2018
Sunday, October 22, 2017 8:41 AM EDT
Recently, the IRS just announced the contribution limits for 401k plans (including 403b and 457 plans) as well as IRAs. Additionally, the IRS also announced changes to the income phase-outs for traditional IRA and Roth IRAs.
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19 Ways To Withdraw IRA Funds Without Penalty
Monday, October 9, 2017 10:56 AM EDT
It is key to note that, although these exceptions allow the distribution of funds without triggering the 10% penalty, in most cases the account owner is still liable for the ordinary income tax on distributions.
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5 No-No’s For IRA Investing
Monday, September 18, 2017 12:23 PM EDT
It is generally well-known that in an IRA account you have a wide range of investment choices. These choices are typically only limited by the custodian’s available investment options.
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Comprehensive Financial Planning – Explained
Tuesday, September 5, 2017 5:36 PM EDT
What exactly makes up a comprehensive financial planning engagement?
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49 to 64 of 77 Posts
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