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Sequence: – Converted $100,000 from traditionl ira to r-ira in 5/2017 (Amt. now $107,000) – Turned 70 1/2 in Summer...

If you have a 401(k) account or other employer sponsored retirement plan, you probably already know that a distribution before you reach age 59½ is going to be subject to a 10% penalty. One exception to the 10% early withdrawal penalty allows participants in a qualified plan to take a distribution from the plan after leaving the job as long as they are age 55 or older. This rule, sometimes called “The Rule of 55,” is an exception to the early withdrawal rules that generally levy a 10% penalty on amounts withdrawn before age 59 ½. This exception does not apply to IRA distributions.

My wife is 46 and I am 56. We both have Roth IRAs but mine is much larger as I’m...

It is a NQ VA with a market value of approx 120k. Are there gift tax implications? Or any other...

Wife is investing over her matching contribution in her 403-B acct. She is grossing 18000. Can she still contribute 6500...

We are in the year following date of death (died in 2016), and still trying to get IRA’s distributed. Decedent...

Client died on June 11th with an IRA that was left to her estate. Question 1 – RMD was paid...

Roth IRAs become 20 years old in January of 2018 and now hold more than $660 billion in retirement wealth, reports the Investment Company Institute. Yet while Roth IRAs have become very popular among individuals who make annual contributions to IRAs, they are near totally avoided by persons who roll over big-dollar distributions from company retirement plans into their IRAs, with these funds going overwhelmingly into Traditional IRAs.

I have a part-time job consulting that gives me a few hundred bucks each month so I am thinking of...

Facts: Husband is 74 and wife is 70.5 as of 9/1/18. They will be divorced effective 3/1/18 after 30 years...