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Individual Retirement Accounts - IRAs

Strategies for maximizing your Individual Retirement Account (IRA’s) Investments, Tax Savings and Timing of Required Minimum Distributions

Found 390 Articles.
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What You Need to Know About RMDs in 2021

January 26, 2021

Over the last few years, there have been a lot of changes in required mini-mum distributions (RMDs) for IRAs and other retirement plans. It is important to know the current rules, so you don’t pay more income taxes than you need to or incur the highest penalty in the tax code. The penalty for not […]

IRS Reduces Future Required Minimum Distributions Just A Little

December 17, 2020

The IRS recently issued final regulations that, in the future, will reduce required minimum distributions (RMDs) on IRAs, other qualified retirement plans and annuities. It is a small help for retirement account owners who don’t need all the money they’re required to take from their plans each year. Most owners of IRAs and other qualified […]

What Happens to an IRA After the Beneficiary Dies?

December 17, 2020

One of the unanswered questions in many estate plans is what happens to an IRA after an initial beneficiary passes away. First, let’s clear up some confusion about some IRA terms. A beneficiary is a person who benefits from, or inherits, an IRA after the original owner passes away. A primary beneficiary is named as […]

Mistakes IRA Beneficiaries Are Making After the SECURE Act

December 17, 2020

A year has passed since the Setting Every Community Up for Retirement Enhancement (SECURE) Act passed Congress by a wide margin. Yet, many IRA beneficiaries don’t know about the law or are receiving bad information about it. The SECURE Act made a major change for individual retirement arrangement (IRA) beneficiaries. Previously, someone who inherited an […]

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Estate Planning

The ‘Look-Through’ Strategy: Making a Living Trust the Beneficiary of Your IRA

December 7, 2020

There are only a few instances your heirs aren’t penalized when you name a trust as the beneficiary of your IRA. A recent IRS ruling gives an example, but the ruling also reveals the pitfalls of the strategy. The general rule goes like this… When an IRA beneficiary is not an individual, the IRA must […]

Should a Living Trust Be Beneficiary of Your IRA?

November 27, 2020

There are only a few instances your heirs aren’t penalized when you name a trust as the beneficiary of your IRA. A recent IRS ruling gives an example, but the ruling also reveals the pitfalls of the strategy. The general rule is when an IRA beneficiary is not an individual, the IRA must be distributed […]

How to Decide Whether to Convert an IRA and How Much to Convert

November 27, 2020

The Roth IRA is one of the most powerful tax and retirement planning tools available, yet it is misunderstood and often misused.The investment income in a Roth IRA compounds tax free, and most Roth IRA distributions are tax free. In addition, there are no required mini-mum distributions (RMDs) during the original owner’s life. Distributions also […]

IRS Sets New Rules on IRAs, QCDs and More

October 28, 2020

Significant changes were made in individual retirement account (IRA) rules during the last few years. The IRS recently issued new guidance on some of those changes and how they interact with other rules.The Setting Every Community Up For Retirement Enhancement (SE-CURE) Act repealed the age limit on contributions to traditional IRAs. Previously, contributions couldn’t be […]

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