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Phone: 973-455-1894 | 51 Dumont Place, Morristown, NJ 07960 | Get directions!

Kiely Capital Management offers financial planning and investment advice. Serving Central and Northern New Jersey, Yvonne and Bernard (Bernie) Kiely provide over 25 years of experience offering discretionary asset management, retirement planning and income tax preparation. KCM is registered with the State of New Jersey as a Registered Investment Advisor.

 

“The only thing we sell is good advice.”

©2018 Kiely Capital Management Inc. All rights reserved.

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Q. I will turn 62 in November 2021. I am a retiree with a $44,000 pension as my only income. I currently tax myself at the state level to cover my tax responsibility on the pension. Can I stop the withholding because I will be eligible for the pension exclusion.

— Retir...

Q. I am not an economist but I think that the value of stocks should be based on the yield by dividends and not necessarily on total return. If I am correct, what is the percentage return in dividends when stock prices remain stagnant? I would expect the markets to go...

Q. I turn 62 in March 2020. My pension before taxes and health insurance is $1,509 per month. I will be collecting $1,500 a month from Social Security when I turn 62. How much in state taxes am I required to pay? I think I’m eligible for the pension exclusion. I have n...

When you sell a home, you may face capital gains taxes on any profit from the sale.

A new bill would eliminate those taxes completely if the homeowner invests the proceeds in a Roth IRA.

The Senior Housing Improvement and Retirement Accounts (IRA) Act would do away with...

Q. Are there investing opportunities because of the new trade deals? Mexico and Canada, China, whatever is happening with the EU?

— Investor

A. Investing internationally is a great diversifier for your portfolio.

We don’t suggest you make bets based on what you hear in th...

January 6, 2020

Q. I am a 74-year-old retired widow with no children. I own a modest home worth approximately $120,000. Can I get some basic information about reverse mortgages and if it might be beneficial for me to consider?

— Senior

A. Let’s go over the basics and how a reverse mortg...

Q. I’m expecting to receive a settlement from an auto accident. How would those funds be taxed?

— Recovering

A. We hope you weren’t injured in the accident and that this settlement will make you whole.

There are five different types of settlements as a result of an auto a...

Q. I have a 401(k) and several IRAs. Next year, I’ll have to start taking Required Minimum Distributions (RMDs). Do I have to take an RMD from each account?

— Planning ahead

A. Here’s a way you can make your life much easier.

First, the background.

The owner of a 401(k) pl...

Q. I live full-time in New Jersey and I also own a Virginia townhouse in a retirement community. I rent out the townhouse by the year. I plan to sell the New Jersey home and move to Virginia all in the same month, but it will take me a few months to transfer my residen...

Q. My wife and I bought a condo in Jersey City in 2007. We moved from New Jersey in 2011 and don't file in the state, but we maintained the property for rent. We are finally selling it. Is there a way to avoid the exit tax? The gains on the sale are modest at $29,000....

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