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Leaving Your IRA to Your Family First, Then to Charity

There is a way to leave your IRA eventually to a charity, but first provide some funds to your family, and save taxes to boot – the CRT.

Roth IRA for Youngsters

It’s a great idea to contribute to a Roth IRA for your child. It’s not a good idea to invent income in order to make the contribution, though.

2 Good Reasons to Use Direct Rollover From a 401(k) Plan

When moving funds from a 401(k) plan to an IRA or to another qualified plan, a direct rollover solves some potential problems.

Spouse May Be Your Best Option for IRA Beneficiary

Naming your spouse beneficiary of your IRA provides the most flexibility and tax benefits of all other options, hands down.

One Way to Use IRA Funds to Invest in Your Business

Is there a way to use your IRA funds to invest in your new startup business? As a matter of fact, there is! Just read on…

Withholding Tax Without Income?

Did you know you can have tax withheld from a distribution from an IRA without having to recognize income from the IRA?

Required Minimum Distributions (RMDs) Don’t Have to Be in Cash, But…

Did you know that you may be allowed to take distributions from your IRA in-kind? That includes Required Minimum Distributions (RMDs).

How a Spouse Can Stretch an Inherited IRA

What are the options for an individual who inherits an IRA from their late spouse? This is the most flexible type of beneficiary of an IRA.

Did You Break Your SOSEPP?

If you have a SOSEPP and you break it, chances are it’s going to cost you. There can be cases where you might be forgiven, but not many.

Forget your RMD? Here’s What to Do

If you forgot your RMD, you need to take action as soon as you realize it. Not doing so can be very costly!

Which Retirement Account Should You Tap First?

Wondering which retirement account you should access first? This article walks through some of the requirements and consequences to know.

10% Penalty Applied to Roth Conversion? Maybe

There are cases where you might get charged the 10% penalty on a Roth conversion. Pay attention to what you’re doing to avoid it!

More Clarification on Rollovers and Transfers

I’m compelled to provide an additional update to the posts I’ve provided in the past in the article Running Afoul of One Rollover Per Year Rule and its follow-up More on the One-Rollover-Per-Year Rule. This is primarily to provide clarity to a portion of this rule that I personally was unclear on when the articles were originally written. The rule is that you are restricted to one IRA rollover in a 12-month period. So let’s define a few things for the purpose of this discussion: Rollover – this is when you move money from one IRA to another, first taking possession of the funds prior to depositing the funds into the new (or the same old) IRA account. You have 60 days to complete this process. At the end of the tax year you’ll receive a 1099R from the original custodian, with a distribution code of 1 or 7 (this […]

Required Minimum Distributions for IRAs and 401(k)s

There are differences in how Required Minimum Distributions are handled between an IRA and a 401(k). Here’s your primer.

NUA and the Roth Conversion

Can you use a Roth conversion for NUA-treated stock? Unfortunately no, and this article explains why it’s not an option.

Let It All Go – IRS gives you 11 years… (now 12½ years!)

There’s a time in your life when there are no restrictions on IRA withdrawals, how much or how little you can take.

Your Retirement Plan and Where You Live

Where you live can have a big impact on the taxation of your retirement income. Some states don’t tax retirement income at all!