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A married couple who files a joint tax return may be able to make a tax-deductible contribution to an IRA for a non-working spouse. This is a tax deduction that many taxpayers miss.
The recent outbreak of the coronavirus in China has put global markets on edge. On Monday, January 27th the Dow dropped over 450 points due to concerns about the spread of the virus after media reporting all weekend.
Understanding your options when you inherit an IRA is important because IRA money generally has never been taxed. This money passed on to your heirs will be taxed when they take the money out, and they must be in individual names and can't be jointly owned.
The SECURE Act, effective January 1, 2020, has ended the Stretch IRA for most adult non-spouse beneficiaries.
On Friday, November 15th the Dow closed above 28,000 for the very first time. This is the breakout we have been waiting for.
The word Recession hit the airwaves on August 14th and a stock market sell-off ensued. The Dow dropped 800 points (-3.05%) on that day.