Site search

I’ve verified that the Solo 401k allows for after tax contributions and in plan conversions. Our plan document allows for...

Hello- Mother-in-law dies in 2017 after beginning RMDs from a Traditional IRA. The son (age 61 at the time) is...

Hello, my mother passed away and left me a 401(k). I was told to transfer to an Inherited IRA/Beneficiary IRA...

Question: I was wondering if, after a person leaves employment and they are sent a required minimum distribution (RMD) from their plan (sent as a check, taxes withheld), would it be considered a rollover if the ex-employee wants to open up an IRA on her own to put the money in within the 60-day timeline to avoid the taxes? Thank you Steve

Thank you all for the help. This forum has been a great source of support during this time. My mother...

The May 17 deadline for filing 2020 taxes is swiftly approaching. If you haven’t filed your taxes yet, it’s time...

I filled out the paperwork / application at local branch to convert existing traditional IRA to Roth IRA.For the following...

I filled out application at bank to convert existing traditional IRA to ROTH IRA.I paid the additional taxes for the...

I was asked about this the other day, and I’m having trouble finding a definitive answer, so thought I might...

If you sponsor a solo 401(k) plan, beware! The IRS recently announced that it is targeting several employer plan areas for stepped-up auditing. One of those areas is solo 401(k) plans. The fact that solo plans made the list is a signal that the IRS believes there are widespread compliance issues with these plans. While solo 401(k) plans don’t have as many rules to follow as employer-based 401(k) plans, there are still several requirements. The IRS announcement should be a warning to business owners with solo plans to make sure they are obeying those rules.