Interest rates have been at historically low levels for approximately 10 years following a period of declining rates for about 20 years since the mid 1980’s. Bond prices move in an inverse direction to interest rates – bond prices increase when interest rates go down and bond prices decrease when … [Read more...]
Windward Passages: Interest Rates Impact on Investing in Bonds
Windward Tax Bulletin: Education Tax Credits
It's tax time, and your kitchen table is littered with papers and forms. As if this isn't bad enough, you recently paid your child's college semester bill, and you don't know where you'll find the money to pay the taxes that you expect to owe. Well, you might finally catch a break. Now that your … [Read more...]
Windward Tax Bulletin: Deduction Bunching and Donor-Advised Funds
The new year is here, bringing with it lots of snow for the Kansas City area and the start of another tax season. Despite the ongoing government shutdown, the IRS has announced the 2019 tax filing season will officially begin on January 28th. However, it won’t just be another year, another tax … [Read more...]
Windward Tax Bulletin: Required Minimum Distributions
What are required minimum distributions (RMDs)? Required minimum distributions, often referred to as RMDs or minimum required distributions, are amounts that the federal government requires you to withdraw annually from traditional IRAs and employer-sponsored retirement plans after you reach age … [Read more...]
Windward Passages: Charitable Contributions from IRAs
The Pension Protection Act of 2006 first allowed taxpayers age 70½ and older to make tax-free charitable donations directly from their IRAs. By making a qualified charitable distribution (QCD) from an IRA directly to a qualified charitable organization, older IRA owners were allowed to exclude up to … [Read more...]