Archive - 2010

1
Social Security: Average Indexed Monthly Earnings Explanation
2
Recovering From Unemployment
3
Should You Take Distributions From Your IRA or From a Taxable Account?
4
IRS Filing Status Guidance
5
You Can’t Argue With Success … But You Can Define It (Part I of II)

Social Security: Average Indexed Monthly Earnings Explanation

One of the key components of determining your Social Security retirement benefit is called the Average Indexed Monthly Earnings, or AIME (don’t you just love the acronym-loving Social Security Administration?  Errr… SSA.).  The AIME is calculated by taking the highest-earning (by index) 35 years of your working life while covered by Social Security, and then computing an average monthly amount based upon those indexed amounts.

Gobbledy-gook, right?  Okay, here’s another way to explain it:  as you work in a Social Security insured job, your earnings are recorded each year.  Each year the SSA applies an index to the year, based …

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Recovering From Unemployment

If you’ve been out of work for a period of time, it’s a huge relief when the paychecks start rolling in again.  Depending on how long you were unemployed, what your finances were like before the job loss, and other sources of income in your household, getting back to work could be just the beginning of a long recovery process for your finances.girl business suit_gcoldironjr2003

But here’s the good news.  While you were unemployed, you and your family probably got used to spending less.  Those habits can now be a huge benefit to your finances long-term, in some cases even allowing you …

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Should You Take Distributions From Your IRA or From a Taxable Account?

dilemme by Môsieur JI know, long title… but I wanted to fully describe the content of this article, which is to answer the following dilemma: I have a sizable IRA and a sizable taxable account that holds appreciated stocks.  I am in need of additional funds (above any RMD required from the IRA) – so which account should I draw the additional funds from?

Taxable account!

There is one school of thought that says you should take the additional funds from the taxable account, because at today’s capital gains rates you will save a bundle in taxes. The capital gains on your appreciated… Read More

IRS Filing Status Guidance

The IRS recently issued Tax Tip 2010-03, which provides taxpayers with guidance on determining filing status for 2009 tax returns.  For additional information, you can review IRS Publication 501.  The text of IRS Tax Tip 2010-03 follows.

Eight Facts About Filing Status

Everyone who files a federal tax return must determine which filing status applies to them. It’s important you choose your correct filing status as it determines your standard deduction, the amount of tax you owe and ultimately, any refund owed to you.

Here are eight facts about the five filing status options the IRS wants you to …

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You Can’t Argue With Success … But You Can Define It (Part I of II)

Whether or not you’re the resolution type, the arrival of a fresh new year offers as good an excuse as any to revisit life goals. What does “success” mean to you and yours? Allow me to share how my wife Sarka and I defined it for ourselves when we founded Posey Capital Management.


Before Posey Capital I started life as an accountant/CFO, became a corporate tax lawyer and launched my investment advisor career from within the insurance industry. These weren’t bad ways to earn a good living, and the years of experience gained during that time certainly helped us shape

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