Individual Retirement Accounts - IRAs
Strategies for maximizing your Individual Retirement Account (IRA’s) Investments, Tax Savings and Timing of Required Minimum Distributions
Found 388 Articles.
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IRS Okays Backdoor Roth IRA
The Backdoor Roth IRA is a strategy available to someone who wants to contribute to a Roth IRA but whose income exceeds the contribution limit. The person can make a nondeductible contribution to a traditional IRA, and then convert that amount to a Roth IRA. There should be no income taxes on the conversion, if […]
What Every Spouse Needs to Know about Inheriting IRAs
One of the most difficult financial tasks facing a surviving spouse is how to handle the individual retirement accounts (IRAs) and other qualified retirement plans. Mistakes often are made with inherited IRAs, whether they are inherited by spouses, children or others. It is understandable. Retirement accounts are treated differently than most other assets in the […]
Ensuring Your Legacy: Estate Planning for IRAs and Other Retirement Accounts
IRAs and other qualified retirement plans, such as 401(k)s, are among the most valuable assets many people own. Often, the goal is to pass at least part of these accounts on to the next generation and let the tax-deferred compounding of any remaining funds continue until they are needed. The IRS and the tax code […]
How Is Your State Pension Fund Doing?
This article discusses a study of the financial health of a few state employee pension funds. The study sought to estimate what would happen to these funds if there was another sharp downturn in the investment markets. It found that at least two funds, Kentucky and New Jersey, are in such bad shape that they […]
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Avoiding the Pitfalls of Retirement Plan Rollovers
Why bother with trusts when less than 1% of estates will pay estate or gift taxes? Many people are understandably, but mistakenly, thinking that way. Traditionally, tax savings were the primary reason to use trusts. But in 2018, individual estates worth up to $11.18 million are exempt from estate and gift taxes. Thanks to the […]
More Scenarios When an IRA Conversion Makes Sense
Why bother with trusts when less than 1% of estates will pay estate or gift taxes? Many people are understandably, but mistakenly, thinking that way. Traditionally, tax savings were the primary reason to use trusts. But in 2018, individual estates worth up to $11.18 million are exempt from estate and gift taxes. Thanks to the […]
Avoiding the Pitfalls of Retirement Plan Rollovers
Why bother with trusts when less than 1% of estates will pay estate or gift taxes? Many people are understandably, but mistakenly, thinking that way. Traditionally, tax savings were the primary reason to use trusts. But in 2018, individual estates worth up to $11.18 million are exempt from estate and gift taxes. Thanks to the […]
Increasing IRA Conversion Benefits after Tax Reform
Many estate plans fail, and often not because of any flaws in the documents or the plans. Estate plan failures frequently occur in the implementation and execution. Especially important are actions taken by others, often your children. They’re likely to be the ones putting key parts of the plan into action, not you. To ensure […]
