July 2015

60-Day Rollovers: Just One per Year per Customer, Please

Need a little cash from your In­dividual Retirement Account (IRA)? Just a short-term need with the intent to replace the funds without triggering a taxable distribution? That’s of­ten referred to as a 60-day rollover – draw the funds to meet the short-term need, then return the money to the IRA within 60 days, and there are no tax consequences.

Higher Income Can Raise Your Medicare Premiums, with a Time Lag

Most retirees know that a rising income also raises the amount of one’s Social Security benefits that are counted as taxable income – as much as 85% of one’s benefits can be subject to income tax. But at even higher incomes, Uncle Sam takes another bite from Social Security.

Watch for Budget Battles to Resume

Remember the great kerfuffle over the “fiscal cliff” a few years back?  It’s been pretty quiet on the federal budget front since then, partly due to generally favorable trends. From 2011 to 2014 federal red ink shrank from $1.37 trillion to $513 billion. That still may sound like a big gap, but it’s just 3% of U.S.

Monthly Economic Update for July, 2015

A concise summary of the key economic trends and market news (in the United States and around the globe) for the month of July, 2015, and what to look for in the weeks to come.

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