Steven Jon Kaplan

Series 65
Personal Finance, Retirement, Investing
86%
Helpful
352
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Articles
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“As the CEO of True Contrarian, Steven Kaplan is committed to continually researching the latest developments in the global financial markets.”
Firm:

True Contrarian Investments LLC

Job Title:

CEO

Biography:

Steven Jon Kaplan began TrueContrarian.com in August 1996 as a weekly blog and later expanded this to a daily newsletter with intraday updates in February 2006.  He has been trading his own account, and those of family and close friends, since 1981, and handles separately managed accounts for qualified clients. As a registered investment advisor, Steve charges a 20 % performance fee on net profits and no management fees.  He has been quoted in Barron's, Market Watch, Dow Jones Newswires, Seeking Alpha, Kitco, and elsewhere and has appeared on Market Watch cable TV with Stacey Delo.

Steven's goal is to identify those assets which are farthest away from the best estimates of their realistic fair-value levels. This is done through designing algorithms which examine the most reliable signals in the financial markets. These include insider buying relative to selling; investor inflows and outflows; media and advisors' sentiment; and intraday behavior especially near multi-decade tops and bottoms. He studies historical interrelationships to mathematically identify which divergences from typical behavior are pointing the way toward essential trend changes.

Steve enjoys running with the New York Road Runners Club, composing and performing on piano and voice, writing stories, and traveling to unique places.  He enjoys hearing from anyone about a wide range of topics, so please let him know what you think about the web site or whatever is on your mind.  You can find his music on ReverbNation.

Education:

BES, Electrical Engineering and Computer Science, The Johns Hopkins University

Assets Under Management:

$24 million

Fee Structure:

20% of net profits; zero management fees.

CRD Number:

2570721

Videos
  • True Contrarian Investments LLC
  • Steven Jon Kaplan explains why investors repeatedly fool themselves.
  • Steven Jon Kaplan: April 2010 conference
All Answers
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    IRAs, Taxes, End of Life
Will I be responsible for my father's taxes on his IRA if he passes away?
100% of people found this answer helpful

I think you are trying to say that each year your Dad takes his required minimum distribution from a traditional IRA by having it transferred from his IRA to a checking account, thereby gradually reducing the value of the IRA.  As the power of attorney, you should have taken the responsibility of gradually converting his traditional IRA to a Roth IRA over a period of years so that this would not be necessary.

The required minimum distribution should usually be taken early in the year.  If your Dad passes away in 2017, 2018, or any other year, and he hasn't yet taken his required distribution for that year, then someone must make the transfer for him after his death.  The IRS doesn't care who does it, but if you have power of attorney then you should do so as soon as possible after his passing.  As I mentioned, it is usually safer to do that as early in the year as possible; January 1 is permitted.

The taxes will be considered your Dad's legal responsibility, not yours, even if you make the transfer.  Once your Dad passes, any subsequent dividends or capital gains in the IRA are considered to be part of your Dad's estate and must be separately reported on an estate form for the year in which your Dad dies; you have to apply to the IRS for a special estate tax ID number (like a social security number).  If the estate is not fully distributed by December 31 of the year in which your Dad passes away, then you have to file an estate form for the following year also.  The estate is responsible for paying the taxes--not your Dad and definitely not your personal account even if you do all of the paperwork.  It is illegal to combine your own income with anyone else's except your spouse.

July 2017
    Debt, 401(k), IRAs
Is it wise to roll over my 401(k) to an IRA in an attempt to pay off debt?
100% of people found this answer helpful
July 2017
    Investing, Asset Allocation, Starting Out
Are my investing goals realistic for my young age?
100% of people found this answer helpful
July 2017
    Choosing an Advisor
How do you advise I research a new financial advisory firm?
100% of people found this answer helpful
June 2017
    Financial Planning, IRAs
What's the best way to handle RMDs in order to save in my IRA?
100% of people found this answer helpful
July 2017