Wednesday, November 17, 2010

Tax season is upon us, Do you know which IRA is right for your? Here are the highlights


Traditional IRA:
·         This type of account may qualify as a deductible contribution for tax purposes. 
·         If you are younger than 50 years of age, you can contribute up to $5,000 per year. 
·         If you are 50 or older, you can contribute up to $6,000 per year.
·         In a traditional IRA the earnings grow tax deferred, which means that the growth (when distributed) will be taxed at the rate you may fall under at the time. 
·         When the account holder turns 70 ½ years of age, it is required he/she takes a required minimum distribution.
·         Distributions can be taken as early as 59 ½ years of age without penalty.

ROTH IRA:
·         Contributions to this account are not tax deductible.
·         If you are younger than 50 years of age, you can contribute up to $5,000 per year. 
·         If you are 50 or older, you can contribute up to $6,000 per year. 
·         Earnings on a ROTH IRA are tax exempt (a.k.a. Tax Free).
·         No minimum distributions are required at age 70 ½.
  
There are more Pros and Cons that need to be taken into consideration.  Please contact alberto@cristanchoandassociates.com for more information.

Tuesday, November 9, 2010

Alberto Cristancho: Free Credit Report

Alberto Cristancho: Free Credit Report: "Did you know that you can get a free credit report once a year from the three credit bureaus? There are free services available through the ..."

Alberto Cristancho: Small Business Loans

Alberto Cristancho: Small Business Loans: "These types of loans are the best solution for small businesses. A lot of small entrepreneurs cannot qualify for traditional loans because ..."

Small Business Loans

These types of loans are the best solution for small businesses.  A lot of small entrepreneurs cannot qualify for traditional loans because of poor credit or not enough time in business.  There are financial institutions that are willing to lend you from as little as $5,000 to as much as $5,000,000.  The amount approved depends greatly on the financial picture of the small business and the owner(s), and a FICO score as low as 500. 
Please contact me for more information at alberto@cristanchoandassociates.com.