Individual Retirement Accounts - IRAs
Strategies for maximizing your Individual Retirement Account (IRA’s) Investments, Tax Savings and Timing of Required Minimum Distributions
Found 430 Articles.
Get access to our full article archive by subscribing to Retirement Watch and Retirement Watch Spotlight Series.
The IRS Proposed Regulations Won’t Solve Your RMD Problems
Required minimum distributions (RMDs) are the bane of many IRA owners. The IRS recently issued proposed regulations that reduce the pain somewhat, but not a meaningful amount for those with significant IRAs. You need to consider other actions to solve the RMD problems. IRA owners older than age 70½ must begin taking RMDs no later […]
RMD Mistakes, Misunderstandings and Myths You Must Avoid
A few years ago, the IRS discovered required minimum distributions (RMDs) were a potential gold mine. A study of tax returns found taxpayers ages 70½ and older made many mistakes with RMDs from IRAs and employer retirement plans. Recent surveys of taxpayers also reveal that many people aren’t well-informed about RMDs. When the IRS finds […]
RMD Mistakes, Misunderstandings and Myths You Must Avoid
A few years ago, the IRS discovered required minimum distributions (RMDs) were a potential gold mine for it. A study of tax returns found taxpayers ages 70½ and older made many mistakes with RMDs from IRAs and employer Retirement plans. Recent surveys of taxpayers also reveal that many people aren’t well-informed about RMDs. When the […]
The Backdoor That Can Add Up to $37,000 to Your Roth IRA Every Year
Higher-income taxpayers often are shut out of the benefits of a Roth IRA. Contributions can be made to a Roth IRA only when your adjusted gross income (AGI) is be-low a certain level: $193,000 for a married couple filing jointly in 2019 and $122,000 for a single taxpayer. When AGI is above that level, the […]
SUBSCRIBE TO RETIREMENT WATCH
What you don’t know about retirement can hurt you. In fact, just a few wrong decisions in your investments, taxes, or estate planning could completely derail your retirement plans. Worse yet, the rules of the game keep changing, making it harder to keep up. For these reasons, I’ve assembled all the key points – everything you need to know — into one comprehensive report. Click here today for free access.
2 Ways To Avoid the ‘Double Tax’ on Your Retirement Benefits
As you know, IRAs and other retirement plans are included in the estate of the owner… And subject to federal estate taxes — when the estate is valuable enough. Here’s what many people don’t know: Unlike other assets, the tax basis of IRAs is not increased to current fair market value by those who inherit […]
Avoid These Frequent Rollover Mistakes
The rollover is the most frequent IRA transaction. Yet, it is fraught with traps and is the source of many expensive mistakes. You want to avoid the two nasty consequences of rollovers that don’t comply with the fine points of the tax law. An improper rollover usually is included in gross income and taxed as […]
7 Critical Year-End Actions to Take with IRAs and 401(k)s
This is not the year to procrastinate about year-end retirement account and tax planning. In the last weeks of every year, I receive a stream of emails from readers asking about transactions they are considering by the end of the year. In most cases, even if they can analyze the situations and decide on the […]
7 Things You Must Know About IRAs and 401(k)s
Almost everyone has an IRA and a 401(k) account. Many people have more than one of each. Yet, important facts about these accounts aren’t well-known. You need to know this information to maximize the after-tax value of the accounts. I find that even many accountants, attorneys and financial planners don’t know these details. Knowing them […]
