Investment and Finance

The trustee custodial fees paid to set up and manage your IRA are investment expenses listed as an miscellaneous itemized deduction, subject to the 2% AGI limitation on IRS Schedule A.

You can contribute up to $5,500 ($6,500 if you are 50 or older) provided you have at least $5,500 / 6,5000 of wages, salary or net self-employment earnings in 2013 and in the case of a traditional IRA (deductible IRA) , you have not reached age 70 1/2 by the end of the year.

IRA Annual Report Form 5498 must be sent to you from the bank by January 31st. It must include the market value of the account as of December 31st. A statement showing contributions for the year must be sent by May 31st.

Prohibited transactions generally include the following transactions: a transfer of plan income or assets to, or use of them by or for the benefit of, a disqualified person; any act of a fiduciary by which plan income or assets are used for his or her own interest; the receipt of consideration by a fiduciary for his or her own account from any party dealing with the plan in a transaction that involves plan income or assets; the sale, exchange, or lease of property between a plan and a disqualified person; lending money or extending credit between a plan and a disqualified person; and furnishing goods, services, or facilities between a plan and a disqualified person.

The account balance of all your husband’s IRA's at the time of death is included in the gross estate.

An income forecast is an operating statement usually covering one year showing what the business expects to earn. It should include your operating costs, including financing costs and the income from sales. The bottom line result is the business net profit for the period.

Most businesses operate seasonally. They have busy periods and slow periods. They are cash rich at times and cash poor at other times. A cash flow statement helps determine whether the business will have enough cash to pay bills in the slow periods. It will help management know if and when they may need to look for financing.

For all Treasury securities such as bills, bonds or notes, the minimum purchase amount is $1,000. Bids must be made in multiples of $1,000.
Non-competitive bids from a single bidder may not exceed one million for the same offering of Treasury bills, or five million for the same offering of Treasury notes or bonds.

Strips are sold in the marketplace as "Treasury zeros" or treasury zero coupons. They are called zeros because purchasers do not receive interest payments. The Treasury does not issue or sell Strips. They can be purchased through broker/dealers and depository institutions. They are the people to contact for rates. Bid and ask quotes and ask yields for US Treasury Strips are in the Wall Street Journal under the table "Treasury Bonds, Notes and Bills." These tables are in other financial reporting newspapers as well.