In this video I walk through the topics of Qualified Dividends, Non-Qualified Dividends, Taxable Interest Income, Non-Taxable Interest Income, Family Tax Planning and Small Business Tax Planning in the context of Roth IRA Conversions.
00:00 Introduction 01:26 Form 1099-DIV 02:28 Ordinary Dividends vs Qualified Dividends 03:17 Qualified Dividend Percentage Calculation 05:31 Calculate Taxable Income with Dividends 07:28 Ordinary Income Tax Calculation 09:59 Putting Dividend Income into TurboTax 11:06 Example with Higher Qualified Dividends 15:07 Roth IRA Conversion with Qualified Dividends 17:37 Tax Planning "Getting More" is Reducing Tax 20:16 Questions to Ask Your Financial Advisor 22:19 Muni Bond Income is Tax Free for Federal 23:12 Municipal Bond Income may be Taxed by States 24:28 Fixed Income Portfolio Comparison (Taxable vs Non Taxable) 26:31 Equivalent Risk Portfolios & Rate of Return 29:08 Corporate Bonds vs Muni Bonds After-Tax Return 31:31 Tax Free Income Means More in Low Tax Rates 33:33 Tax Law in the United States 33:50 Are Costs Related to a Car Tax Deductible 36:34 U.S. Tax Law | Individual Tax | Family Tax | Business Tax 37:13 Family Tax Planning Example 38:35 Hire Your Kids Tax Strategy 39:59 Schedule C Family Business 41:09 Wage Income up to the Standard Deduction 42:41 Taxable Income Shifting Example 45:42 Roth IRA Conversion with Schedule C Business Salary 46:31 Turbo Tax Entry for Roth IRA Conversion with Sch C Income 48:46 Self Employment Tax Calculation 53:17 Tax Savings from Family Planning Strategy in 1 Sentence 53:41 What is a Roth IRA 55:27 Annual Roth IRA Contribution Limitation 58:41 How to Get More Money into Roth IRAs 59:45 SEP IRA Annual Contribution Limit 01:01:55 IRS IRA and SEP IRA Contribution Chart 01:02:36 Maximizing Roth IRA Value with SEP IRA Conversions
