Gregory Ricks & Associates
Gregory Ricks & Associates
Blog Post
  • by: Jude Heath CPA 6 tax savings ideas to consider before year’s end 1. Pay your 2018 property taxes early If your state and local taxes will be greater than $10,000, pay the excess by December 31st, leaving $10,000 to deduct in 2018. 2. Make an extra mortgage payment Make your January mortgage payment inRead More >> The post How to Take Advantage of Tax Reform Before Year’s End appeared first on ...

Gregory Ricks & Associates
Gregory Ricks & Associates
Blog Post
  • The Ricks Report December 11, 2017   NUMBERS OF $IGNIFICANCE   $   MARKET SIGNAL? – The difference between the yield of the 2-year Treasury note and the 10-year Treasury note fell to 53 basis points last Tuesday 12/05/17 (i.e., 2.36% 10-year note yield less the 1.83% 2-year note yield), the lowest spread recorded since 10/15/07Read More >> The post The Ricks Report – December 11, 2017 appeared fir...

Gregory Ricks & Associates
Gregory Ricks & Associates
Blog Post
  • The Ricks Report December 4, 2017   NUMBERS OF $IGNIFICANCE $   BACK TO BOOM LEVELS – The median sales price of existing homes sold nationally in October 2017 is 108% of the median sales price of existing homes sold nationally in June 2007, the latter date being the peak of the real estate boom.  SaleRead More >> The post The Ricks Report – December 4, 2017 appeared first on Gregory Ricks & Associ...

Gregory Ricks & Associates
Gregory Ricks & Associates
Blog Post
  •   Click any page to view larger! The post November/December 2017 Newsletter appeared first on Gregory Ricks & Associates.

Gregory Ricks & Associates
Gregory Ricks & Associates
Blog Post
  •   If you have an IRA, you should realize that what goes in must come out. In other words, your tax deferral will not last forever. Eventually, Uncle Sam will want his share. When you reach retirement age, required minimum distributions (RMDs) will kick in. Are you prepared? Take our RMD quiz and see howRead More >> The post RMD Quiz – How Well Do You Know the Rules? appeared first on Gregory Ricks...

Gregory Ricks & Associates
Gregory Ricks & Associates
Blog Post
  • The Ricks Report November 27, 2017   NUMBERS OF $IGNIFICANCE $  STILL THE AMERICAN DREAM? – The national homeownership rate in the USA as of 9/30/17 was 63.9%, down from a peak of 69.2% as of 12/31/04.  Every 1 percentage point reduction in the home-ownership rate represents 1.2 million households that have changed from homeownerRead More >> The post The Ricks Report – November 27, 2017 appeared f...

Gregory Ricks & Associates
Gregory Ricks & Associates
Blog Post
  • The Ricks Report November 13, 2017   NUMBERS OF $IGNIFICANCE  $   INCREASE EVERYONE – Individual income taxes paid by American taxpayers would have to increase by +42% in order to eliminate our $666 billion deficit from fiscal year 2017 (source: Treasury Department).  $   COMPLETE CYCLE – The jobless rate in the United States was 5.0%Read More >> The post The Ricks Report – November 13, 2017 appea...

Gregory Ricks & Associates
Gregory Ricks & Associates
Blog Post
  • The Ricks Report November 6, 2017   NUMBERS OF $IGNIFICANCE MORE AND MORE RENTERS – The 111.4 million households that existed in the United States on 9/30/09 were split between 75.3 million owners and 1 million renters. The 119.1 million households in the United States on 9/30/17 were split between 76.2 million owners and 42.9Read More >>

Gregory Ricks & Associates
Gregory Ricks & Associates
Blog Post
  • Some of these year-end moves will be even more compelling if lower rates arrive in 2018. The outlook for tax reform is still uncertain, but this much seems clear: Tax rates are unlikely to go up in 2018, and there’s a good chance that they’ll go down for most taxpayers. That makes some year-end taxRead More >>

Gregory Ricks & Associates
Gregory Ricks & Associates
Blog Post
  • The Ricks Report October 30, 2017 Numbers of $ignificance  START SAVING NOW – A child born in 2017 that begins kindergarten in the fall of 2022 would attend college between the years of 2035 and 2039. If that child attended an average public in-state 4-year college and if the annual price increases for public collegesRead More >>

Gregory Ricks & Associates
Gregory Ricks & Associates
Blog Post
  • The Ricks Report October 23, 2017 Numbers of $ignificance • INCREASING EQUITY – The average loan-to-value ratio in the US housing market as of 6/30/08 was 55%, i.e., the average home mortgage had 45% of equity behind it. The average loan-to-value ratio in the US housing market as of 6/30/17 was 42%, i.e., the averageRead More >>

Gregory Ricks & Associates
Gregory Ricks & Associates
Blog Post
  • We are frequently asked when required minimum distributions (RMDs) begin when an individual inherits an IRA. As with most things related to IRAs, the answer is, it depends. Year of Death RMD If a Traditional IRA owner died after their required beginning date (RBD) and did not take their RMD for the year, the RMDRead More >>

Gregory Ricks & Associates
Gregory Ricks & Associates
Blog Post
  • The Ricks Report October 16, 2017 Numbers of $ignificance EXPANDING ECONOMY – The US economy has been growing for the last 99 months (i.e., no recession), an expansion exceeded in length only 2 times since 1900 (source: National Bureau of Economic Research). DECADES PASS WITH FEWER REFINERIES – The United States has 141 operable oilRead More >>

Gregory Ricks & Associates
Gregory Ricks & Associates
Blog Post
  • The Ricks Report October 9, 2017 Numbers of $ignificance LARGEST IN THE WORLD– The US economy is $19.25 trillion in size as of 6/30/17. 10 years ago (2007), the economy was worth $14.48 trillion.  20 years ago (1997), it was worth $8.61 trillion. 30 years ago (1987), it was worth $4.87 trillion (source: Commerce Department).Read More >>

Gregory Ricks & Associates
Gregory Ricks & Associates
Blog Post
  • This is the story of Al, Bob and Carl. Each cousin is the non-spouse beneficiary of his father’s 401(k) plan. Their fathers worked together at the local automotive factory for their entire lives and were all covered by the same plan. The default distribution option in the plan for non-spouse beneficiaries is a five-year payout.Read More >>

Gregory Ricks & Associates
Gregory Ricks & Associates
Blog Post
  • The Ricks Report October 2, 2017 Numbers of $ignificance OVER TEN TRILLION IN LAST DECADE – The national debt as of 9/30/07 was $9.008 trillion. The national debt as of Thursday 9/28/17 was $20.204 trillion.  Thus, the national debt has increased $11 trillion over the last 10 fiscal years, i.e., fiscal years 2008-2017 (source: TreasuryRead More >>

Gregory Ricks & Associates
Gregory Ricks & Associates
Blog Post
  • Have you inherited an IRA? What type of IRA is it? Your answer will matter a lot when it comes to your tax bill. Inheriting a traditional IRA will have very different tax consequences than inheriting a Roth IRA. Consider the following example. Let’s say Tom named his three children as beneficiaries of his three-million-dollarRead More >>

Gregory Ricks & Associates
Gregory Ricks & Associates
Blog Post
  • The Ricks Report September 25, 2017 Numbers of $ignificance A NEW RECORD– Damage caused by Harvey and Irma is estimated to be $290 billion. Harvey’s damage estimate of $190 billion would make it the costliest weather disaster in US history.  Harvey and Irma were the first Category 4 or higher hurricanes to strike the USRead More >>

Gregory Ricks & Associates
Gregory Ricks & Associates
Blog Post
  • The Ricks Report September 18, 2017 Numbers of $ignificance   NEW IDEA – Fed Chair Ben Bernanke announced in November 2008 his revolutionary idea (“Quantitative Easing”) designed to keep the US economy from falling into a 1920s style depression. The plan involved the creation of “bank reserves” that were used to purchase bonds from American banks,Read More >>

Gregory Ricks & Associates
Gregory Ricks & Associates
Blog Post
  • Generally, when you receive a check from your IRA custodian or employer plan, you have 60 days to rollover the funds to another retirement account, either an IRA or an employer plan. As with most retirement plan rules, this rule comes with two exceptions – one good and one bad. Let’s look at what happensRead More >>

Gregory Ricks & Associates
Gregory Ricks & Associates
Blog Post
  • Warning! The options described here are for spouse beneficiaries named on the beneficiary forms of IRA accounts. Non-spouse beneficiaries and spouses who inherit through an estate have a different sets of rules. Your spouse has died and you are named the beneficiary of their IRA. What do you do now? The IRA custodian has automaticallyRead More >>

Gregory Ricks & Associates
Gregory Ricks & Associates
Blog Post
  • The Ricks Report September 11, 2017 Numbers of $ignificance  HARVEY’S IMPACT ON GAS – The national average price of gasoline had increased just 3 ½ cents per gallon YTD through Friday 8/25/17, the day Hurricane Harvey made landfall in Texas. In the 2 weeks since then, average gas prices nationwide have gone up another 32Read More >>

Gregory Ricks & Associates
Gregory Ricks & Associates
Blog Post
  • As the flood waters slowly recede in the Houston area, many people are asking themselves how they can help the victims of Hurricane Harvey. For those who have IRAs and are charitably inclined a Qualified Charitable Distribution (QCD) may be one way you can help. QCD Rules Not everyone can do a QCD. A QCDRead More >>

Gregory Ricks & Associates
Gregory Ricks & Associates
Blog Post
  • ­­­­­­­ The Ricks Report  September 5, 2017 Fixed Indexed Annuities used in the appropriate way can be wonderful additions to a well-rounded retirement plan. These tools give their owners opportunity to capture positive gains in market indexes while having protection from market downturns. I am including in this email a brochure for such a productRead More >>

Gregory Ricks & Associates
Gregory Ricks & Associates
Blog Post
  • It is important to know what your IRA custodian will tell you and what they will not or cannot tell you. The I in IRA stands for individual and many times it is up to the individual to know things or keep track of them. 1. 60-Day Rollovers – An IRA custodian will not remindRead More >>

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