Site search

Hello, Assume an individual has a 401(k) Plan with money types of both a pre-tax (Traditional) and after-tax (Roth) nature....

Facts: IRA Beneficiary is a “look thru” trust with 4 named individuals as beneficiaries of the trust. Original owner dies...

There are two important dates in October, the 15th and the 31st. Read on to learn more about these deadlines and dates to put on your calendar.

A husband died after his RBD with no beneficiary on his TIRA. The estate is the beneficiary. I understand that...

One of the most common questions asked by people approaching their mid 60’s is, “When do I have to sign up for Medicare?” For most people, the short answer is, “when you turn 65.” Here's why.

If someone retires after age 55 from a business through which they were funding a solo 401k/profit sharing plan, can...

I believe I know the answer to this but just want to verify. Employee turned 70.5 in July of this...

Individual has a 401(k) account balance of $200,000 which includes $50,000 of after-tax funds. Individual instructs custodian to directly rollover...

Advice for a 56 yr. old man, single and with no pension plan, who has accumulated $60,000.00 in bank and...

IRAs are designed to be used for retirement savings. Ideally, to maximize the benefits of these accounts, you should not touch these funds before reaching retirement age. However, in the real world, you may need money and consider tapping your IRA earlier. If you do, you should be aware of the 10% early distribution penalty. This penalty is assessed on early distributions from IRAs, in addition to any taxes you may owe. Here are ten things you should know about the 10% early distribution penalty and IRAs.