Individual Retirement Accounts - IRAs
Strategies for maximizing your Individual Retirement Account (IRA’s) Investments, Tax Savings and Timing of Required Minimum Distributions
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How To Avoid Costly IRA Mistakes
Though set up to help regular people save, IRAs are fraught with complicated tax rules. Missteps can be made without the owner knowing it until it is too late to correct the problem. The result often is higher taxes and penalties. Sometimes the result is reduced IRA options. Here are some little-known but very common […]
Should you Stay in the 401(k) or Roll Over?
Handling the 401(k) balance at retirement once was an easy decision. In almost all cases, it made sense to have the balance rolled over into an IRA. Things are changing. New retirees might find it advantageous to stay with their 401(k) plans after retirement. There are many reasons to transfer out of the 401(k) plan […]
Five Proven Ways to Reduce the Mortgage on your IRA
Most people who are busy accumulating large balances in their IRAs and 401(k)s forget that the IRS holds a mortgage on those accounts. You put pre-tax dollars in the accounts and let income and gains compound tax deferred. But that balance in the IRA is not all yours. The price for those tax breaks is […]
Should you put your IRA in a Trust?
Many owners of substantial IRAs hope their IRAs become nest eggs for their children or grandchildren. Their estate plans include strategies that let the IRAs, when inherited, compound for as long as possible – perhaps decades. That means selecting the right beneficiaries, and being sure the beneficiaries are well-advised about their options. Unfortunately, beneficiaries often […]
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IRA Estate Tax Discounts – An Update
Your heirs will enjoy only the after-tax value of your IRAs and other retirement accounts. Can this difference be reflected in the estate tax value of the accounts? An IRA is included in the owner’s estate. If the estate is valuable enough, it is subject to the estate tax. After heirs inherit an IRA, the […]
The New Roth 401(k): Who Benefits?
Should you start deferring money into a Roth 401(k) account instead of a traditional 401(k) plan? Many of you still do not have access to the Roth 401(k) plans that first became available this year. But a number of you do, and many more will next year as employers add them to their plans. The […]
How to Put Investments in the Right Places?
With today’s tricky tax law, the account in which you hold an asset can be as important as which assets you own. Unfortunately, too little attention is paid to the issue of which accounts should hold which investments. Most of us have more than one type of investment account: 401(k)s, traditional IRAs, Roth IRAs, taxable […]
The Most Overlooked Deduction
Those who inherit IRAs often are not aware of a deduction they can take to shelter IRA distributions from income taxes. Even most tax experts do not understand “income in respect of a decedent.” Most skip over the topic in school and expect not to run into it. But with so many people owning valuable […]
