The Anna Maria Island Sun Newspaper


Vol. 16 No. 8 - December 23, 2015

BUSINESS

It's wicked good at Wicked Cantina

LaPensee Plumbing Pools Air

LOUISE BOLGER | SUN

Owners Michael and Janice Dolan and
General Manager Jake Baker offer a Tex Mex menu.

The raised patio with bright red umbrellas facing the sparkling Gulf of Mexico may not look like a traditional Spanish cantina, but that’s just the outside wait till you get in.

The Wicked Cantina in Bradenton Beach was conceived by Michael and Janice Dolan who, after moving to Anna Maria from Austin, Texas, couldn’t find authentic Tex Mex food. They opened a year ago after totally renovating the space, including removal of an old building that was taking up vital parking space. Indestructible concrete floors, brick walls, barstools made of reclaimed wood from Haiti and half metal walls turns the restaurant into an urban cantina.

With the help of Jake Baker the general manager with 14 plus years of restaurant experience, and a Food Network trained chef imported from San Antonio to train the staff, the Dolans have developed an authentic Tex Mex menu. The chips and salsa are complimentary and appetizers include Wicked nachos, cantina shrimp, chile cheese fries and more.

There are a large selection of tacos all served with refried beans and Mexican rice, enchiladas like beef and pork, quesadillas, burritos with chicken, pork and beef and fajitas the way you like them. They also offer salads and soups including chicken tortilla soup and taco salad.

And if you’re not in the mood for Tex Mex, there are seafood dinners available including mahi mahi and grouper dinners, fish and chips, shrimp baskets, and classic burgers. Everything is made from scratch at the restaurant, and the staff is encouraged to come up with some interesting daily specials so you never really know what to expect. Prices are affordable, and there is a children’s menu.

The Wicked Cantina has a full bar and offers awesome margaritas in giant glasses, as well as wine and other bar drinks. There is a daily happy hour between 1 and 6 p.m. where you can purchase $5 margaritas, $3 well drinks, $1.99 fireballs and $.99 Cantina brew. Wednesday through Sunday from 6 p.m. to closing there is also music.

A to go menu is available with a terrific Family Pack To Go, perfect when you’ve been at the beach all day and don’t want to cook. Private parties, both on the front deck or in the back room of the restaurant, are popular, especially for rehearsal dinners.

Starting in early January the Wicked Cantina will be serving breakfast from 7:30 to 11 a.m. What better way to greet the day then from the Wicked Cantina’s Gulffront, pet friendly deck.

Janice Dolan says their goal was to build an affordable neighborhood joint where everyone is comfortable whether you’re coming off the beach or out for the evening. The Wicked Cantina – where Tex meets Mex, and the food is wicked good.

WICKED CANTINA

101 Seventh St. N., Bradenton Beach

941-281-2990

www.wickedcantina.com

11 a.m. to 9 p.m.

Every day

Happy hour: 1 to 6 p.m.

All major credit cards accepted.

Anna Maria Island Sun News Story

High-income earners can still use a Roth IRA

Investment Corner

Have you ever known something was right for you and been told you couldn’t have it? It can be pretty frustrating. Many high-income earners, who would like to contribute directly to Roth accounts, cannot do so because of IRS income limits. However, that doesn’t mean it’s impossible for high-earners to reap the benefits associated with Roth accounts, such as tax-free growth, tax-free distributions and no required minimum distributions. They may be able to participate in Roth accounts by:

1. Converting an existing Traditional IRA to a Roth IRA. Anyone can move the assets accumulated in a traditional IRA account to a Roth IRA account, regardless of income. The catch is you’ll owe current income tax on the amount converted. This may be a sound choice if:

• You want tax-free income during retirement;

• You expect to be in the same or a higher tax bracket in the future;

• You can pay taxes owed from sources other than the IRA account;

• You plan to leave the account for your heirs.

2.Completing a backdoor Roth conversion. If you earn too much to contribute directly to a Roth IRA (adjusted gross income of $131,000 or more for a single filer; $193,000 for joint filers in 2015), then you can contribute to a non-deductible traditional IRA and convert it to a Roth IRA. This is called a backdoor Roth conversion. It may have some appeal for high-income individuals even though IRA contribution limits, which are $5,500 in 2015 ($6,500 if you are age 50 or older), make it difficult to build a substantial position.

Before pursuing a backdoor Roth conversion, it’s essential to thoroughly understand the rules and limitations. For example, the pro-rata rule requires individuals who are complete backdoor Roth conversions to calculate taxes owed across all untaxed IRA assets. So, if you have other IRAs that have not been taxed then a pro-rata portion of any assets converted to a Roth IRA may be taxable. Your financial professional or tax account will be helpful in understanding the limitations.

If you complete a Roth conversion of any kind and regret the decision, you can re-characterize the conversion by converting the Roth IRA assets back into a traditional IRA. This must be done within specific time frames.

3. Making Roth contributions to a 401(k) plan. Not all employer-sponsored retirement plans offer Roth 401(k) plan contributions. If yours does, take advantage of it. There are no income limits on Roth 401(k) contributions and contribution limits are more generous than those for traditional IRAs. During 2015, plan participants may contribute up to $18,000 to a 401(k) plan account, plus up to $6,000 more, if they are age 50 or older.

No matter how much money you earn, it is possible to enjoy the benefits of a Roth account. Just make sure you talk with a financial professional and understand the rules, limitations and potential impact of any conversion before you take action.

Tom Breiter is president of Breiter Capital Management, Inc., an Anna Maria based investment advisor. He can be reached at 778-1900. Some of the investment concepts highlighted in this column may carry the risk of loss of principal, and investors should determine appropriateness for their personal situation before investing. Visit www.breitercapital.com.

 


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