AboutBruce Julien Expertise I can answer questions on and raise issues clients overlook in the areas of Estate Planning as far as taxes and distribution flow problems, Asset Management as far as appropriateness of assets and allocations for a desired goal and the value a consumer gets for their costs, Tax Planning related to Income and Estates, and Insurance/Annuity questions particularly in light of suitability to the consumer.
Experience I became a CPA in 1991 and began offering financial advice in 1992. I am a Registered Investment Advisor which means I sign off on putting clients' interests first in a fiduciary role.
Education/Credentials BA in Accounting, University of Maryland 1990
Question Recently I received a substantial amount (~$30k) as a cashout for a stock that I owned for more than 10 yrs. If I don't have the need for (some of) the money immediately. Can it be rolled over into an IRA to avoid paying long term capital gains? Or could I invest in an IRA thru my regular income, so I get better tax advantage? I am in my early 40's, fully employed with a 6-digit income and contributing to a 401k plan.
Answer You can't roll it into an IRA. You can't use the contribution against the gain and since you are covered by a 401k plan at work with a 6 figure income you can't make a deductible contribution.
At least long term cg is still at a favorable tax rate
