Gail in Virginia

I had noticed that you did not always post for those who don't actively participate, but no way are you getting senile!. Please continue doing what you do so well, as well as the answers you give to posters on this board. You are one of the few who actually provides a source for your answers (or a link to the information), and I really appreciate that.

I got worried about you earlier this week when Catherine was posting birthdays first, because we notice when you are missing a few days! However, you jumped back in before I became concerned enough to say anything. Everyone else takes about a month for me to realize I haven't seen them in a while! Believe me you are very important to this board (and not just for the birthday wishes!) :wub:

Apparently it takes me about a month, but now I have noticed that Jainen hasn't posted in a while. Does anybody know if he is okay? First KC, and now Jainen has quit posting on this board. Did we do something to them?

I think, that if you re-read the same section of Pub 590 more carefully, that you are both right and wrong. If you are over 59 1/2, you do not have to pay the 10% penalty on the amount that you converted and of course you do not have to pay income tax on it because you already paid the income tax on it at the time you converted it. However, if you withdraw earnings on the amount that you converted within the 5 year period for that conversion, it is taxable income even though there will be no penalty since you are over 59 1/2., Example: In May 2006 you convert your $10,000 traditional IRA to a Roth IRA. Your 5 year holding period begins 1/1/06. In 2010, you withdraw the entire amount of the conversion plus the earnings - maybe $10,500. If you are under 59 1/2, then you will pay income tax on the $500 earnings plus penalty on the $10,500 withdrawal. If you are over 59 1/2, you will pay income tax on the $500 earnings. However, if you wait until 1/1/11 and make the same withdrawal, then if you are under 59 1/2 the situation is the same because it is still not a qualified distribution. BUT if you are over 59 1/2, there will be no tax consequences because you have met both tests for a qualified distribution. At least, that is the way that I understand this from reading Pub 590. So there may be consequences to not leaving a conversion in for five years, but not as substantial as if you were under 59 1/2.

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I hope that you had a very :bday:

I hope that you had a very :bday:

I hope that you had a very :bday:

I hope that you had a very :bday:

I hope that you had a very :bday:

I hope that you had a very :bday:

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I did not get that! It does sound kind of cool.

Our fee is very similar to yours: $25 for up to 5 employees, and $2.00 per employee for all over that. We do not charge for the W-3, but the 940 would be an additional $20, the 941 is $20 if we do the payrolls and $45 if we do not plus a separate, similar charge for the Virginia Employment Commission report. Form 943 is $75.00.

A belated to you!

I believe that you only use the amount of the original non-deductible contributions. Since the earnings were never taxed, they can't be treated as though they are non-deductible contributions to get the percentage of non-deductible money since what you are really determining is the amount that is not taxed upon withdrawal.I am not sure that I am stating this well, so I hope that you can tell what I mean. I am not sure I quite understand your post either - when you ask about using the amount of the original Keogh contribution is that the same as the amount that was contributed on a non-deductible basis? Most Keogh plans are deductible.

You might want to check Catherine's post on Oct. 25 for opinions on e-readers. My smart phone is a BlackBerry Storm 2, and while I have been extremely pleased with it, I miss the hard key pad that I had with my previous LG and wish that I had gone with the Droid. Everyone that I know that has the Droid is very happy with it. There seem to be more available apps for it, and you can get really cool games like Angry Birds for Droid phones if that matters to you. I think that was why my son switched from BlackBerry to Droid. :D

We have a dedicated server with four workstations. The server backs up to a data cartridge daily, and I carry the most recent home every night. We use flash drives for data transfer and temporary storage. We have one printer, two copy machines that print, two scanners and one of the copiers scans. I have dual monitors on my workstation and hope to add them to the other workstations eventually. We are trying to go paperless but so far we are doing everything as both paper and electronic copies. We use a program called Phone Slips for scheduling, which allows all of us to make appointments for each other and access everyone's schedule. I have a BlackBerry smart phone so that I can get my email whether I am in the office or not. It is hard to think of all the ways I use technology - I love it! So much better in many ways than the old pencil and paper days. I love this board, and the help I can get here!

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I liked the last one best - a question I have often asked myself about many different topics!

I did.

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