KJH Financial Services
Kimberly J. Howard, CFP®, CRPC®, ADPA®, is the founder and owner of KJH Financial Services in Newton MA and Denver CO. She is a Certified Financial Planner™ practitioner and has over twenty years of experience in financial management and education goals through effective comprehensive financial planning.
Kimberly holds a Master of Science degree in Computer Science Information Management from Boston University. She earned a Bachelor of Science degree in Mathematics and Physical Education from Stephen F. Austin University in Texas. She attended Boston University for her Certification in Financial Planning and H&R Block for Tax Preparation Certification.
Kimberly is where she teaches General Financial Planning Principles, Income Tax, Retirement Planning and Estate Planning. She is a past adjunct faculty member at Boston University and The College for Financial Planning.
Kimberly is a member of the Financial Planning Association (FPA) and The National Association of Personal Financial Advisors (NAPFA). She was named to the Metropolitan Who's Who Among Executive and Professional Women. She is an expert Advisor for Morningstar .
Kimberly promotes a life planning approach with a balanced work/life style. She is active in sports including cycling, golf, skiing, and hiking.
BS, Mathematics, Stephen F. Austin
MS, Computer Science, Boston University
The amount is included in your 2018 income taxes. You will receive a 2018 1099-R. On the waiver, be sure and explain your situation why you were not able to take the distribution. Also, put the date you did take the RMD.
Yes, usually a deposit or withdrawal will trigger activity on the account. You should contact your credit union to determine what and how many transactions are considered.
There is no age exemption. There is a $250,000 exemption for singles and $500,000 exemption for couples. You will owe taxes on the $2,000,000 minus any cost to sell your home (commissions, repairs, closting cost) minus your previous improvements minus the $250,000/$500,000 exemption. You taxes will be a bit based on the information you provided.
Keep your tax records for a minimum of 3 years. After that, it depends on your situation as to the length of time. If you wrote off a bad debt, better keep them for 7 years. If you have a small business, 7 years may serve you best. Be sure to keep not only a copy of the return, but all the supporting documents.
Kimberly J Howard, CFP
Here is some great advice:
If you have short-term capital gains, short-term capital losses, long-term capital gains or long-term capital losses gains or losses from ownership in a partnership, S corporation, estate or trust.