Author - jim@blankenshipfinancial.com (Jim Blankenship)

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2015 IRA MAGI Limits – Married Filing Separately
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2015 MAGI Limits for IRAs – Married Filing Jointly or Qualifying Widow(er)
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2015 MAGI Limits – Single or Head of Household
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Stay Away From This Asset Class in 2015
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Coordinating Social Security Benefits in Matters of Divorce and Remarriage

2015 IRA MAGI Limits – Married Filing Separately

separateNote: for the purposes of IRA MAGI qualification, a person filing as Married Filing Separately, who did not live with his or her spouse during the tax year, is considered Single and will use the information on that page to determine eligibility.

For a Traditional IRA (Filing Status Married Filing Separately):

If you are not covered by a retirement plan at your job and your spouse is not covered by a retirement plan, there is no MAGI limitation on your deductible contributions.

If you are covered by a retirement plan at your job and your MAGI is less than $10,000, …

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2015 MAGI Limits for IRAs – Married Filing Jointly or Qualifying Widow(er)

jointsNote: for the purposes of IRA MAGI qualification, a person filing as Married Filing Separately, who did not live with his or her spouse during the tax year, is considered Single and will use the information on that page to determine eligibility.

For a Traditional IRA (Filing Status Married Filing Jointly or Qualifying Widow(er)):

If you are not covered by a retirement plan at your job and your spouse is not covered by a retirement plan, there is no MAGI limitation on your deductible contributions.

If you are covered by a retirement plan at work, and your MAGI is $98,000 …

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2015 MAGI Limits – Single or Head of Household

householdNote: for the purposes of IRA MAGI qualification, a person filing as Married Filing Separately who did not live with his or her spouse during the tax year, is considered Single and will use the information on this page to determine eligibility.

For a Traditional IRA (Filing Status Single or Head of Household):

If you are not covered by a retirement plan at your job, there is no MAGI limitation on your deductible contributions.

If you are covered by a retirement plan at work, if your MAGI is $61,000 or less, there is also no limitation on your deductible contributions …

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Stay Away From This Asset Class in 2015

The SwamiAdmittedly, this is a pretty deceiving headline. We see headlines like these every day in the newspapers, TV and from colleagues at work. The truth of the matter is that there are certainly going to be assets classes that will behave horribly while other asset classes do extremely well. The point is, neither you nor I (or anyone else) will accurately be able to predict which ones will do better than others.

For every person that says stocks will have a meteoric rise in 2015 there will be just as many that will say to avoid them. You’ll have others …

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Coordinating Social Security Benefits in Matters of Divorce and Remarriage

divorce throws a curve

Photo courtesy of Bec Brown via Unsplash.com.

Social Security has a way of making decisions very difficult. In the simplest of circumstances, the choices can be tough. But what if you’re in a tough spot, such as if you’re divorced and now involved with someone else, considering remarriage? Social Security benefits in matters of divorce can become very complicated.

The Decisions

Social Security benefits can be taken as early as age 62. You can also delay taking benefits to any age after you’ve reached age 62. Delaying to your full retirement age will result in a larger benefit, but …

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