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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Important Changes to IRAs and Other Retirement Plans for 2024
Congress and the IRS have been busy changing the rules for IRAs and other qualified retirement plans. The bulk of the recent changes were made in the SECURE Act 2.0 (enacted in late 2022) and its predecessor the SECURE Act (enacted in late 2019). SECURE is an acronym for Setting Every Community Up for Retirement […]
3 Backdoor Roth IRA Strategies to Consider Before 2024
It is time to decide how much you want to put in Roth IRA accounts in 2024 and choose from one or more of the three “backdoor Roth IRA” strategies. The IRS recently announced that in 2024 the new contribution limit for one of the three backdoor Roth IRA strategies is $46,500. After the 2020 […]
7 Facts to Know About IRA Conversions
More than 70% of Ameri- cans are worried that higher taxes will be imposed on future distributions from traditional IRAs and 401(k)s, according to Allianz Life’s 2023 Quarterly Market Perceptions Study for the third quarter of 2023. That’s one reason a high percentage of participants in the same survey said they’re making effectively managing the […]
What You Can and Can’t Do with RMDs
The tax code and regulations have detailed and specific rules concerning who must take required minimum distributions (RMDs), when they must be taken, and how they are calculated. But there is no guidance about what a retirement plan owner or beneficiary can do with the RMD. So let’s clear up some of the confusion. First […]
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The Tax-Wise Way to Cash in Taxable Investment Gains
There’s a strategy for recognizing taxable capital gains that produces multiple tax benefits for many people. The recent boom in stock prices and some real estate sectors leaves many people sitting on substantial gains. They’d like to take the gains and reposition their capital before prices decline, without losing a good portion of the appreciation […]
Year-End Strategies for IRA and 401(k) Owners
As 2023 winds down, you need to engage in end-of-the-year IRA manage- ment, plus develop a multi-year strategy for your retirement plans that acknowledges the 2017 tax law will expire after 2025. Here are critical questions about retirement plans you need to review. Should a traditional IRA be repo- sitioned? Individuals with substantial traditional IRAs […]
IRS Issues New Guidance on RMDs
The Internal Revenue Service (IRS) recently issued some short-term guidance on required minimum distributions (RMDs) for IRAs, especially inherited IRAs. The IRS isn’t ready to issue final regulations on the changes the SECURE Act made to RMDs. It issued proposed regulations on inherited IRAs in the spring of 2022 and still is considering the comments […]
Key Facts to Know About Gold IRAs
Gold is at or near record highs, and that’s generating interest in different ways to own the precious metal. Gold has been in most of my recommended portfolios continuously since August 2017. We reduced the size of our positions in March 2021. Recently I’ve received a number of queries about “gold IRAs.” A gold IRA […]
