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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 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 am interested in buying a vacation home abroad. Can the property be considered part of a retirement portfolio such as buying it with an IRA. I also want to avoid having the money used to be counted as taxable income. Are there any tax breaks available to finance t...

Q. Due to a workforce reduction, I was terminated by my former employer. Shortly after, I took my retirement account, fully funded by my former employer, in one lump sum and rolled it over to my IRA. Does this impact my eligibility to collect unemployment benefits?

— No...

February 25, 2019

By Karin Price Mueller

NJMoneyHelp.com for NJ.com

States can't take back taxes on retirement accounts if you move away.

Q. My wife and I are both seniors who are retired. Several years ago, our tax preparer wanted to know the total value of our combined IRAs for our New J...

Q. I have three separate retirement accounts held at a single brokerage firm. The first is a traditional IRA on which I paid New Jersey tax on my contributions when I made them. I have a rollover IRA which was originally an out-of-state 401(k). I did not pay New Jersey...

The rules for IRAs are strict, but they can help with long-term gains.  (pixabay.com)

Q. If I close my IRA by converting the funds to a Roth IRA, can I deduct losses from a non-IRA account against profits gained in my IRA?

-- Investor

A. We see what you're getting at, but...

Here's a look at what to expect if you inherit and IRA.  (pixabay.com)

Q. When my brother died, I inherited a $60,000 IRA. I know I will have to take out Required Minimum Distributions (RMDs) every year. I'm 64. Do I have to take an RMD, and if I do, by when and how muc...

You can't use trickery to boost your Roth IRA account balance.  (pixabay.com)

Q. Say I want to add $10,000 to my Roth IRA, way above the annual limit. Can I do it this way? Say I have $15,000 worth of stock in the Roth, and I say I instruct my broker to sell that stock...

Cost basis matters when you're getting ready to take IRA distributions. (pixabay.com)

Q. When I was a public employee and in the 1980s, my wife and I contributed to a non-deductible traditional IRA. I did not keep good records of these contributions and did not file For...

A look at what the new tax plan means for some inherited IRAs. (alvimann/morguefile.com)

By Karin Price Mueller
NJMoneyHelp.com for NJ.com

Q. How does the new tax legislation affect current "Income with Respect to a Decedent," or IRD, with respect to offsetting taxes on...

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How does N.J. tax these retirement distributions?

March 27, 2020

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