For those of you who are married, actively participating in a company sponsored retirement plan and making over $169,000 in adjusted gross income in 2008 ( $116,000 if you are a single filer), consider making non-deductible IRA contributions in 2008 and 2009. The goal would be to convert the balance to a Roth IRA in 2010. In 2010, the income limit for Roth conversions (currently $100,000 in adjusted gross income) goes away and you can pay the tax due on the conversion over two years. Given the expectation that marginal tax rates will be going up, it may be a way to give higher earners an opportunity to get some money into Roth accounts.
There are several other aspects to consider such as will the income limit really go away in 2010, how much you can set aside and where the dollars will come from to pay the tax due. So send us an email at planting@harvestfinancialpartners.com for more information and to discuss your specific situation.
Investment thoughts from Harvest Financial Partners. For more information come visit us at www.HarvestFinancialPartners.com
Posts
About Me
- Harvest Financial Partners
- Jim Wright has worked with individual clients as an investment manager for more than 22 years. Before deciding to form Harvest Financial Partners, Jim worked at the Davidson Trust Company, Delaware Investments and PNC Bank. Jim is a Chartered Financial Analyst. He received his B.A. from Vassar College and his M.B.A. from the Amos Tuck School at Dartmouth College. John Fattibene started his career as a commercial lending officer. When John left lending, he joined Vanguard, and has spent more than a decade as a financial planner. John is also an attorney. Like Jim, John attended Vassar College. He received his J.D. from the University of Maryland School of Law. John is also a Certified Financial Planner. For more information on Harvest, visit our website at Harvestfinancialpartners.com. To contact us,send an email to jim@harvestfinancialpartners.com or john@harvestfinancialpartners.com.
Disclosure Statement
Harvest Financial Partners, LLC ("Harvest Financial Partners” or “HFP") is a Pennsylvania registered investment adviser located in Paoli, Pennsylvania. Harvest Financial Partners and its representatives are in compliance with the current registration and notice filing requirements imposed upon registered investment advisers by those states in which Harvest Financial Partners maintains clients. Harvest Financial Partners may only transact business in those states in which it is registered or notice filed, or qualifies for an exemption or exclusion from notice filing requirements.Harvest Financial Partners' web site is limited to the dissemination of general information regarding its investment advisory services to United States residents residing in states where providing such information is not prohibited by applicable law. The content of this website is subject to applicable statutes and regulations, and is presented without warranty of any kind, expressed or implied. By accessing this website, the visitor agrees to the Terms and Conditions set forth herein by HFP. HFP reserves the right to supplement or amend these Terms and Conditions at any time. Accordingly, the publication of Harvest Financial Partners' web site on the Internet should not be construed by any consumer and/or prospective client as Harvest Financial Partners' solicitation to effect, or attempt to effect, transactions in securities, or the rendering of personalized investment advice for compensation, over the Internet. The information provided on this website is for general information purposes only and in no way is intended to create an advisor/client relationship. Furthermore, information on this Internet site should not be construed, in any manner whatsoever, as the receipt of, or a substitute for, personalized individual advice from Harvest Financial Partners. Any subsequent, direct communication by Harvest Financial Partners with a prospective client shall be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides. For information pertaining to the registration status of Harvest Financial Partners, please contact the Pennsylvania Securities Commission on their web site at http://www.psc.state.pa.us/. A copy of Harvest Financial Partners' current written disclosure statement discussing Harvest Financial Partners' business operations, services, and fees is available from Harvest Financial Partners upon written request. While the information contained here is believed to be from reliable sources, HFP does not guarantee its accuracy, completeness or suitability, for any particular purpose, and its timeliness is subject to change without notice. All such information is provided solely for convenience purposes only and all users thereof should be guided accordingly.
No information on this website should be interpreted to state or imply that past results are an indication of future performance. No one accessing the information presented on this website should assume that investment strategies referenced here directly or indirectly will be profitable. All investment options involve varying degrees of risk, including the possible loss of principal invested, and visitors accessing the information provided on this website should proceed accordingly.Any observations expressed are not substitutes for professional advice of any kind, including tax, legal or investment advice, and any visitor to the website agrees to hold HFP and its respective directors, officers, employees, affiliates and agents harmless against claims for damages arising from the visitor’s use of this website and/or any decisions the visitor makes based on the information provided by this website.HFP is not liable nor will accept any responsibility of any kind for any possible damages or losses incurred as a result of interruption of or inability to access this website. HFP makes no representations regarding other websites accessed through links available on this one nor does HFP warranty that they will be free from viruses, worms or other harmful components. All such links are maintained by their respective organizations and providing links to other websites does not constitute endorsement of those websites or acceptance of any responsibility by HFP for their content or use.No electronic communication submitted to HFP via email addresses provided on this website should be considered secure or confidential and may be viewed by unauthorized persons prior to receipt by the intended recipient. Any electronic communication submitted, including but not limited to, attachments, comments, suggestions, etc., will become the property of HFP to use in any manner so deemed by HFP. HFP reserves the right to monitor any and all uses of this website.HFP maintains a copyright in the text, logos and graphics contained throughout this website, except where specifically noted and such information is protected by copyright and other intellectual property laws. No part of this website or information contained therein may be reproduced, copied, uploaded, downloaded, duplicated or transmitted in any way without the express written consent of HFP.These Terms and Conditions are governed by and construed in accordance with the laws of the State of Pennsylvania without giving effect to its conflict of law provisions. If for any reason a court of competent jurisdiction finds any provision or portion of these Terms and Conditions to be unenforceable, the remainder of these Terms and Conditions will continue in full force and effect.Harvest Financial Partners and the Harvest Financial Partners logo are service marks of Harvest Financial Partners LLC. All rights reserved. Any other trademarks or service marks are the property of their respective owners.
No information on this website should be interpreted to state or imply that past results are an indication of future performance. No one accessing the information presented on this website should assume that investment strategies referenced here directly or indirectly will be profitable. All investment options involve varying degrees of risk, including the possible loss of principal invested, and visitors accessing the information provided on this website should proceed accordingly.Any observations expressed are not substitutes for professional advice of any kind, including tax, legal or investment advice, and any visitor to the website agrees to hold HFP and its respective directors, officers, employees, affiliates and agents harmless against claims for damages arising from the visitor’s use of this website and/or any decisions the visitor makes based on the information provided by this website.HFP is not liable nor will accept any responsibility of any kind for any possible damages or losses incurred as a result of interruption of or inability to access this website. HFP makes no representations regarding other websites accessed through links available on this one nor does HFP warranty that they will be free from viruses, worms or other harmful components. All such links are maintained by their respective organizations and providing links to other websites does not constitute endorsement of those websites or acceptance of any responsibility by HFP for their content or use.No electronic communication submitted to HFP via email addresses provided on this website should be considered secure or confidential and may be viewed by unauthorized persons prior to receipt by the intended recipient. Any electronic communication submitted, including but not limited to, attachments, comments, suggestions, etc., will become the property of HFP to use in any manner so deemed by HFP. HFP reserves the right to monitor any and all uses of this website.HFP maintains a copyright in the text, logos and graphics contained throughout this website, except where specifically noted and such information is protected by copyright and other intellectual property laws. No part of this website or information contained therein may be reproduced, copied, uploaded, downloaded, duplicated or transmitted in any way without the express written consent of HFP.These Terms and Conditions are governed by and construed in accordance with the laws of the State of Pennsylvania without giving effect to its conflict of law provisions. If for any reason a court of competent jurisdiction finds any provision or portion of these Terms and Conditions to be unenforceable, the remainder of these Terms and Conditions will continue in full force and effect.Harvest Financial Partners and the Harvest Financial Partners logo are service marks of Harvest Financial Partners LLC. All rights reserved. Any other trademarks or service marks are the property of their respective owners.
No comments:
Post a Comment