Roth iras do not have a Required Beginning Date. This is because a roth ira is not subject to a minimum distribution requirement during the lifetime of that ira account holder. An inherited ira is referred to as a stretch ira because the beneficiary can “stretch” out the benefits. The ira withdrawals can be “stretched” … Read more
IRA accounts have rules. Traditional IRA’s , Roth IRA’s and Simple IRA’s have some similar rules and some different ones. Learn the rules. Knowledge of these rules could save you money in taxes and penalties. IRA accounts have eligibility rules, distribution rules, contribution limit rules, withdrawal rules and taxation rules. If you don’t follow the rules, you … Read more
Inherited IRA’s as an IRA investment can be tricky. Inherited IRA’s can sometimes be called Stretch IRA’s. If you are named as the beneficiary of an IRA investment and the owner of the IRA dies, stop, don’t do anything until you learn the rules. Managing an inherited IRA can be complicated. IRA withdrawals and distributions from an … Read more
When you leave your job, you do have a few options on how to handle your 401k account. Although the 401k rollover options available to plan participants are somewhat limited. One option available to you is a 401k rollover option: which includes a 401k transfer or a 401k rollover. Or your other option is a … Read more
Taxes: Your 401k and traditional ira contributions decrease your taxable income for that tax year, thereby reducing your overall taxes. So why would you not want to contribute as much as possible. Matching: Matching is free money. If your employer matches your contributions, by making your 401k maximum contribution you increase the employer match. … Read more
401k laws were established to protect you as an investor. The laws spell out the rules and regulations that must be followed on 401k investments, 401k contribution limits and 401k withdraw rules. It’s because of 401k laws that you can feel confident when investing in a 401k. The 401k laws help to make the 401k … Read more
IRA taxes, IRA penalties and IRA distributions are what IRA law covers. You do not have to be an attorney to understand the basics of IRA law. If you make an IRA distribution from a Traditional IRA too early, you will have to pay taxes and penalties, that’s the law. IRA’s were established to help individuals … Read more
What does an ira deduction and ira tax and the ira maximum have in common? Taxes. IRA MAXIMUM The ira maximum contribution is usually increased every year. For 2009 the maximum amount that you can contribute to your ira is $5,000 with an additional $1,000 catch-up contribution if you are over age 50. If you … Read more
401k to ira Beneficiary ira 401k fund taxable 401k cashing out 401k A 401k to ira rollover is very common in these tough economic times with all the job changes and downsizing. When you do a 401k to ira rollover be sure to check: 1) your beneficiary ira 2) the 401k fund and 3) if … Read more
Get ready! Get set! Go! Before you know it, it will be your time to retire. Will you be ready? Do you know what the IRA contribution limit is? Maximize your IRA: To prepare the best you can, take full advantage of IRA’s. Every year you should max out your ira contribution limits if possible. … Read more