STEPHEN SMALENBERGER, EA
There are only three types of accounts:
Let’s jump in and look at the first, Taxable.
The accounts in this registration category include the following:
The movement of money within the type of account is seen below:
Who are these accounts for?
Anyone from a newborn, someone in the middle of their career to those in retirement
How much can you deposit?
This amount is unlimited. You can put in as much as you’d like.
How are these accounts taxed?
The interest income, dividend income and capital gains and losses are realized and recognized in the year earned. It is taxed as earned.
Are there any restrictions on the amount that you can withdraw?
No, you can take out all the funds as needed when needed. No restrictions.
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Retirement Roth Conversions Part 2 [Video]| In Part 2 of our series on Roth Conversions, we’re taking a deeper look on how to plan for this strategy years before your retirement.
[Video] You can stretch your retirement dollars by saving on taxes. One good way to save on taxes is by doing Roth Conversions ahead of retirement. Let's see how.
Steve enjoys getting to know clients and hear their unique stories and the lessons learned which has brought them where they are today. One of the reasons he enjoys what he does is the ability to show the outcome that can be achieved with different choices. He also enjoys continually learning.