Brendan Willmann, CPA, EA, CFP®
Asheville: 828-348-8698
Cincinnati: 513-549-2736


This category contains 5 posts

Update on the Charitable Rollover Legislation

The charitable rollover provision has recently become permanent.  This is certainly welcome news for charitably inclined retirees. For those who are not familiar, the charitable rollover allows those who are are 70 1/2 or older to transfer up to $100,000 directly from their IRA to a qualified charity. An example: A 73 year old with an IRA wishes […]

Health Savings Account Contribution Limits for 2016

October is a popular month for benefit enrollment.  An increasing number of employees are electing high deductible medical insurance plans that are coupled with a health savings account. You are highly incentivized to contribute to a health savings account as contributions are tax-deductible and qualified distributions are tax-free.  Open enrollment gives you the opportunity to specify […]

Proposed Limit on Retirement Plan Contributions

Perhaps it is the way it is being presented, but President Obama’s proposal to limit retirement plan contributions appears widely misunderstood. Under the 2014 budget subheading of “Strengthening the Middle Class and Making America a Magnet for Jobs,” readers see the administration’s suggestion to “Prohibit Individuals from Accumulating Over $3 Million in Tax-Preferred Retirement Accounts.” […]

Review of President Obama’s 2015 Budget

The mere length of the President’s 2015 Federal budget suggests the document isn’t well-read (at least in its entirety) outside of the Beltway.  Instead, only snippets from the 212 page proposal tend to generate widespread media attention while special interest groups are vocal with regard to suggested reforms pertinent to their membership. As Washington grapples […]

2012 Mileage Deduction Rate

The 2012 business mileage deduction rate is 55.5 cents per mile effective January 1, 2012.  This is the same rate that went into effect July 1, 2011.  (The previous rate was 51 cents.)  The IRS is clear in that taxpayers deducting business miles should have a log indicating the business purpose of the trip, the […]