Individual Retirement Accounts - IRAs
Strategies for maximizing your Individual Retirement Account (IRA’s) Investments, Tax Savings and Timing of Required Minimum Distributions
Found 429 Articles.
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New Rulings Show Importance of Checking IRA Beneficiaries
A series of recent IRS rulings shows how important it is to review carefully your IRA beneficiary designations. The rulings show that your will and other documents don’t matter. Only the beneficiary designation form on file with the IRS custodian or trustee matters to the IRS. In the rulings, an IRA owner had IRAs at […]
Weighing the Pros and Cons of IRA Conversions
Forget all you’ve heard about converting traditional IRAs into Roth IRAs. There are too many rules of thumb, shortcuts and plain misinformation floating around. Also, circumstances change. You might have evaluated the conversion option a few years ago and reached a decision. You should re-evaluate that decision regularly, because important factors might be different now. […]
Knowing When RMDs Can Be Delayed
Not everyone has to begin taking required minimum distributions (RMDs) from all qualified retirement plans right after reaching age 70½. There are a few exceptions in the tax code. The exceptions don’t apply to IRAs. You must take RMDs from traditional IRAs after age 70½. But the exceptions do apply to some qualified retirement plans, […]
Optimizing RMDs from IRAs
It is time for many individual retirement arrangement (IRA) owners to consider carefully their required minimum distributions (RMDs). When you’re older than age 70½, you have to take RMDs from IRAs and other qualified retirement plans each year. The IRS realized a few years ago that many people were calculating their RMDs wrong, or not […]
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IRS Makes it Easier to Waive 60-Day IRA Rollover Requirement
New IRS guidelines make it easier to obtain a waiver for missing the 60-day requirement to rollover a distribution from an IRA or qualified retirement plan. When money or property is taken from a traditional IRA, 401(k), or other qualified retirement plan, the amount of the distribution normally has to be included in gross income. […]
Be Sure Your Heirs Don’t Mess Up Your IRA
Most of you put a lot of resources into accumulating your IRAs. They’re among the most valuable assets you own. You also took the time to include IRAs in your estate plan so they can pass to your loved ones at the lowest tax cost. You probably planned for your loved ones to benefit from […]
Understanding the Rules of IRA Contributions
Contributing to an individual retirement account (IRA) is an action that every account holder should be familiar with and comfortable doing. While, on the surface, contributing may seem like a simple enough part of managing an IRA, it is actually an incredibly important pillar of the retirement finance sector. As an experienced IRA owner can […]
IRS Gives People a Break on IRA Rollovers
You know that when you take money from IRAs, you have 60 days to put that amount of money in the same or a different IRA or other qualified retirement plan. If you miss the 60-day deadline, you have to treat the amount as a distribution and include it in gross income. The IRS could […]
