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The Advisory Firm Newsletter:  May 2014

THIS MONTH IN PERSONAL FINANCE: weekly finance news, GDP, bad investments for IRA, Tax info, IRA Tax Info, IRS ruling on rollovers..........


A quick summary of personal finance blogposts for the past few weeks, enjoy!

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GDP and Stock Prices:

This week (Wednesday) the first quarter GDP number came out and it was a fair bit below expectations coming in at .1%, not exactly the robust growth you would like to see after 5 years of Fed Stimulus. GDP is short for Gross Domestic Product and is the macro view of the economy. It's all the goods and services produced within our country.

Want to read more?: http://www.marriedtoamiser.com/?p=510

Be careful of LP and MLP investments in your IRA:

With interest rates so low, many investors are seeking out other high yielding strategies for income. As the energy boom in the country grows, MLP type stocks are getting a lot of press. These companies are generally structured as a pass through type entity that take in income and send it to their investors (limited partners) in the form of K1 distributions instead of 1099 distributions. This little detail can be a problem if you hold these in your IRA.

Here is a link to read more: http://www.marriedtoamiser.com/?p=508



Tax knowledge for next year:

Some questions that I received from clients on deductibility of the new Georgia one time ad valorem tax and withholdings that I thought would be helpful to share with all:



More IRA tax facts to use in 2014:

This was probably helpful info about a month ago, and if we are connected on LinkedIn you probably saw it, but since we have passed April 15th then then plan on using this knowledge for your IRA contributions in 2014:


The biggest takeaway is filing a form 8606 for non-deductible IRA contributions and not mixing non-deductible IRA's along with pretax (rollover) IRA's.


The one rollover per year IRS surprise:

When can the IRS fight it's own statements? When they are written in an IRS publication that you use for reference. Just a few weeks ago the courts ruled in favor of the IRS which had sought to disallow an individuals IRA rollover. This rollover happened to be when he removed money from an IRA and replaced it within 60 days. Even though the publication 590 indicated he did everything correctly, the court sided with the IRS and he ended up with a whopper of a tax bill. Not to be confused with a 401k rollover, but this info may be helpful in the future.

Click here to read more:






James Daniel, CFP®, CMT, EA

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The Advisory Firm, LLC provides fee-only financial planning services for clients throughout metro Atlanta and North Georgia including the communities
of Alpharetta, Canton, Cumming, Dawsonville, Duluth, Dunwoody, Marietta, Midtown, Roswell, and Woodstock.

This newsletter if for informational purposes only. The information contained within should not be considered as financial advice nor soliciation
for financial services. Consult with your financial professional if you have any questions. The Advisory Firm, LLC is a fee-only financial planning company and registered investment advisor.