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Need to drop off documents to our office? Please call ahead so that we can arrange a day and time for you to come by!

With Tax season in full swing, we have had many people unexpectedly stopping by, and we must follow guidelines for how many people can be in our office at a time. We can also check to see if someone is available if you have a question or need further assistance. We would also like to remind everyone that we do not accept walk in appointments.Our staff is more than happy to assist you, just give us a call at (408) 642-1322. For questions and other concerns, please contact Kimberly Murphy, […]
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Reminder: Masks still required in office, please call ahead when dropping off documents

Hello everyone! We just wanted to send a friendly reminder that J.R. Financial & Insurance Services still requires face masks to be worn properly over the nose, mouth, and chin at all times within our office. Even if you have received the Vaccine, you must continue to wear a mask for everyone’s safety. We would also like to remind everyone that if you need to stop by our office to drop off any documents, to please call (408) 624-1322 and schedule a drop off time with us. We are still limiting how […]

Coronavirus Relief for Retirement Plans and IRAs

Reminder: Required Minimum Distributions aren’t needed for 2020 for most plans. For more info, check out this article shared from the IRS. The Coronavirus Aid, Relief, and Economic Security (CARES) Act makes it easier for you to access your savings in Individual Retirement Arrangements (IRAs) and workplace retirement plans if you’re affected by the coronavirus. This relief provides favorable tax treatment for certain withdrawals from retirement plans and IRAs, including expanded loan options.

Roth Conversion Makes Sense at Today’s Low Tax Rates

For a long time, converting your traditional IRA to a Roth version was a fairly low-risk proposition. If you changed your mind at a later date, you could always reverse course. That ended with the tax bill former President Trump signed in December 2017. Daniel Kurt from Investopedia explains more. The legislation abolished the option to “recharacterize” a Roth conversion back into a traditional, SEP, or SIMPLE IRA, beginning in the tax year 2018. It did the same for Roth IRA funds rolled over from 401(k) and 403(b) accounts. There was a brief window […]