Financial Advice for Retirement, Social Security, IRAs and Estate Planning

Individual Retirement Accounts - IRAs

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

Found 72 Articles.
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The Most Overlooked Deduction

December 1, 2005

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 […]


How to Maximize the Benefits of a Roth IRA Conversion

November 1, 2005

Converting a regular IRA to a Roth IRA can be a shrewd financial move. See September’s visit for details. This month we’re going to discuss how to establish a plan that will multiply the benefits of a conversion. There are two key rules that can be used to develop the most effective Roth conversion plan. […]


When To Convert Traditional IRA to a Roth IRA

September 1, 2005

Converting a regular IRA into a Roth IRA has several advantages for seasoned citizens, and it can benefit their heirs. A recent law makes it easier for some seasoned citizens to convert their IRAs. This is a good time of year to consider converting your regular IRA into a Roth IRA. A conversion is allowed […]


IRAs for Grandkids

September 1, 2005

Grandparents can give a big boost to the finances of their grandchildren who earned money from summer jobs. They can help make contributions to a Roth IRA and begin building a tax-free nest egg. A contribution to a Roth IRA can be made by anyone who has earned income and whose adjusted gross income is […]


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Does the Bankruptcy Law affect Retirement Accounts?

June 1, 2005

President Bush signed the new bankruptcy law, which we gave advice notice about in last month’s visit. Here are details of how the final law applies to pensions and IRAs. Retirement funds are exempt from the bankruptcy estate if they are exempt from federal income tax under tax code sections 401, 403, 408, 408A, 414, […]


New Deduction for IRA Owners

May 1, 2005

Many IRAs charge a wrap fee that includes money management, account maintenance, and perhaps other costs in one annual or monthly fee. A recent IRS private ruling states that many of these wrap fees can be paid with money outside of the IRA without the payment being treated as an additional contribution to the IRA. […]


Six Costly IRA Myths and Blunders

May 1, 2005

Individual Retirement Accounts are a long-standing and well-known part of the tax code. Yet, distributions from IRAs are one of the most misunderstood sections of the code. The situation is further complicated because the rules changed in recent years. There still are people – even financial professionals – who follow the old rules. Mistakes about […]


Key IRA Decisions for 2005

January 1, 2005

It’s another year, and many IRA owners have to focus on required minimum distributions (RMDs). The right strategy for these and other aspects of an IRA can make the account last longer. RMDs are mandatory after an owner is age 70 1/2. The rules apply to all qualified retirement plans, though we’ll focus on IRAs […]

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