Year-End
Reminders
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Allow for extra time. Please remember that the holiday season will affect timing on withdrawals and other transactions. Please allow for extra time to process your requests from now until the end of the year. Also, be aware that there are typically deadlines ahead of December 31 for certain activities to be reported for the 2018 tax year.
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Contributions to IRAS & Roth IRAs.In 2018, you can contribute a maximum of $5,500 or $6,500 if you are age 50 or over. Remember, you have to have taxable income to contribute to an IRA, but if you are married and filing jointly, you can each make contributions even if only one of you is working. Speak to a tax advisor to learn about how your deductions will be affected by an employer-sponsored retirement plan.
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Take your RMD.If you are at least age 70½, you are required to take minimum distributions from your traditional IRA – but not your Roth. You are generally required to take RMDs by December 31, though you have until April 15, 2019 if you turned 70½ in 2018. Please make sure to verify that you have taken your RMD from any IRA accounts that are not managed by us.
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Report your QCD.This is an early reminder that, if you took a qualified charitable distribution in 2018, you are responsible for reporting that amount to your accountant.
Save
the Date: The New Tax Law & You
Blattel & Associates is hosting a special winter client breakfast
event next year. “The New Tax Law & You” will be presented by Dean Mioli,
Director of Investment Planning at SEI. Please add February 9, 2019to your
calendar so that you can attend this informative event.
New
Office Location
Please update your records with our new address:
Blattel
& Associates
1258
Jungermann Road
St.
Peters, MO 63376