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.
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When Should You Reverse an IRA Conversion
IRA owners who convert their traditional IRAs to Roth IRAs during the year need to continue monitoring their accounts. It might be advantageous to reverse an IRA conversion. Reversing an IRA conversion, known as a recharacterization, can be done any time before the due date for the tax return for the year of the conversion, […]
Asset Protection for IRAs
IRAs are among the most valuable assets many Americans own, and protecting those assets from creditors and lawsuits can be a concern. This can be a tricky proposition, because IRAs are in a netherworld of asset protection. Protection for IRAs in federal bankruptcy court was improved by the Bankruptcy Abuse Prevention and Consumer Protection Act […]
Reasons to Consider an In-Service Distribution
Few people know that it is possible to take your money out of a 401(k) or other employer-sponsored retirement plan and continue working for the employer. The move clearly is allowed in the tax law, and many employer plans allow it. Some employees should consider taking this step. The action is known by pension experts […]
How to Avoid Tricks and Traps in Required Minimum Distributions
Required minimum distributions from IRAs and other qualified retirement plans are a source of frequent mistakes. This is an area in which you want to avoid mistakes, because the penalty is steep. The IRS changed the rules for RMDs in 2001 and 2002. There still are a lot of publications and web sites with the […]
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The Roth IRA Opportunity
Roth IRAs are one of the best tax-advantaged investment vehicles. Right now they are available to only taxpayers with incomes below certain levels. In a couple of years, all investors will be able to take advantage of this opportunity by converting traditional IRAs into roth iras. Those whose incomes make them ineligible for Roth IRAs […]
Last Chance for IRA Charitable Contributions
We are approaching a last chance for some taxpayers to use IRAs to make tax-advantaged gifts to charity. The tax break is set to expire after Dec. 31, 2007. The Pension Protection Act of 2006 allowed IRA owners who are at least age 70½ to make gifts directly from the IRA to a charity. The […]
Little-Known IRA Tax Saver
Many workers own shares of employer stock through 401(k) or other retirement plans. Few of these workers, or even their financial advisers, know the tax break that is available to substantially reduce the tax burden from selling those shares. With a little planning and by following a few steps, workers can substantially reduce the tax […]
How to Make Retirement Accounts Last
Retirees have a tough time finding advice on the best ways to spend the money in retirement accounts. In this month’s visit we will consider the best order to withdraw retirement money. Most people have more than one type of retirement account. There usually is at least one tax-deferred account, such as an IRA, plus […]
