Rebecca Dawson

Retirement, Investing, Taxes
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“Rebecca Dawson is an experienced, independent financial advisor offering personalized wealth and investment management guidance to a select group of individuals, families, and businesses in Southern California and around the country.”
Firm:

Silber Bennett Financial

Job Title:

Senior Vice-President

Biography:

Rebecca Dawson is an experienced, independent financial advisor offering personalized wealth and investment management guidance to a select group of individuals, families, and businesses in Southern California and around the country. Her mission is to be a trusted advisor to her clients by partnering with them to identify what is most important in their financial lives while providing tailored solutions to help achieve their goals.

For over 20 years, Rebecca has served as a financial advisor. She has developed highly refined methods for evaluating client's needs and formulating successful investment strategies. She and her staff provide an exceptional level of service to her clients, who are typically worth well in excess of $1 million and include some of the most prominent people in the United States.

Before joining Silber Bennett, Rebecca managed her own independent brokerage office since 1999. Prior to that she held similar positions with PaineWebber, Merrill Lynch, and Alex.Brown & Sons.

Her clientele have included corporate presidents, and officers, charitable foundations, pension funds, business owners, and wealthy retirees. Her affiliation with Silber Bennett Financial provides her clients with full service wealth strategies.

Education:

BA, Liberal Arts, University of Texas at Austin

Disclaimer:

SECURITIES AND ADVISORY SERVICES OFFERED THROUGH SILBER BENNETT FINANCIAL, INC.

DOI: CA 0H72697  |  MEMBER: FINRA / SIPC

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    Taxes
How is a savings account taxed?
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A savings account is taxed by the IRS on form 1099-INT. Your financial institution that holds your savings account mails these forms to their customers in late January for the previous year's interest. You are only taxed on any interest earned in the account over a minimum of $10, although the IRS requires you to report all taxable interest in your income.

Keep in mind that some banks offer cash incentives to open a new savings account, those bonuses are also taxable and need to be reported once a year as well.

This only applies to traditional savings account or an online savings account which would generate taxable interest income. Not to be confused with an IRA savings account which are tax deferred and you pay taxes when the funds are withdrawn. IRAs have contribution limits, but with a traditional savings account, there are no limitations on contributions.

If your taxes are not paid on the interest earned in your savings account, the IRS will enforce penalties and fees.

March 2017
    Stocks, Taxes
Are profits from options trading subject to a FICA tax?
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April 2017
    Retirement, 401(k), IRAs
What could I gain from rolling over a 401(k) into an IRA while already in retirement?
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April 2017
    Retirement, IRAs, Taxes
How can I determine if converting an IRA to a Roth IRA will be worthwhile?
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April 2017
    Investing, 401(k), IRAs
If investments in a 401(k) have lost money, can you use the current value to convert to a Roth?
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April 2017