J. P. Buellesfeld, a Registered Investment Advisor, located at 221 W. Harvey, Suite 108, Wellington, Kansas, 67152. Offers advice on stocks, bonds, mutual funds, and income tax preparation.


Buellesfeld Financial Services, Inc.
Registered Investment Advisor
J. P. Buellesfeld, President

221 E. Harvey, Suite 108, U. S. Post Office Building
Wellington, Kansas   67152-3843
Phone: (620) 326-7551
Cell Phone: 316-648-7551
E-Fax: 413-740-5896;  E-Mail: jpb@sutv.com



 

 

  Roth IRA Basics

  A couple can Invest up to $11,000 per couple annually if one spouse has $11,000 in earned income. A single person can invest up to $5,500 annually if they have $5,500 in earned income.

   Invest up to $13,000/couple annually if one spouse has $13,000 in earned income and the married couple are both 50 years of age. A single person can invest up to $6,500 annually if they are at least 50 years of age and have $6,500 in earned income.

  After five years, you'll pay no Federal and Kanasas income tax on earnings withdrawn after age 59 1/2.

  You may withdraw without penalty or Federal or Kansas Income Tax, up to $10,000 after (5) years before age 59 1/2, for down payment on "First Time Home Purchase."

  You may withdraw without penalty before age 59 1/2 to pay for higher education.

  You are eligible to invest in a Federal and Kansas Income Tax-Free Roth IRA if your annual income is under $183,000 (couple) or $116,000 (single).

  No mandatory withdrawals at any age, so you can save as long as you like.

  Rollover your existing Traditional IRA (without penalty) to a Roth IRA. No Federal Adjusted gross income limits after January 1, 2010.

  You may contribue to a ROTH IRA past age 70.5, up to $13,000 per couple annually if one spouse has $13,000 in earned income.

   You may contribute to a ROTH IRA past age 70.5 up to $6,500 for a single person, if they have at least $6,500 in Earned Income.

The Roth IRA also provides a way to pass a large amount of money, without probate, at your death. With a traditional IRA, you must start making withdrawals after you reach age 70 1/2.

But - a Roth IRA has NO mandatory withdrawals. That means you can let the account keep accumulating income, Federal and Kansas tax-free, until your death, when it will pass to the person you've named.

For more detailed information about the recent tax legislation and how Roth IRA's can benefit you , please consult your tax advisor.

 

Thank you for visiting my Web page. If you have any questions, please don't hesitate to contact our office. We would be glad to serve you in any way that we can.

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Contact: jpb@sutv.com

 

 

Copyright 2009 - Buellesfeld Financial Services, Inc.
Registered Investment Advisor
J. P. Buellesfeld, President

221 West Harvey, Suite 108,  
U. S. Post Office Building
Wellington, Kansas 67152-3843
Phone: (620) 326-7551
Cell Phone: 316-648-7551  
E-Fax: 413-740-5896    E-mail: jpb@sutv.com

 

Last updated on 18 Jan 2016 - Sherry Kline