The year-end required minimum distribution (RMD) questions are starting to come in. This one came in from an advisor. Melissa and her spouse Gary both turned age 70 this year. Melissa’s birthday is in May and Gary’s is in September. Who has an RMD for this year?
Are you self-employed or a small business owner and your business expenses go on your individual tax return? If so, and you have an extension for filing your 2014 federal income taxes, you may want to consider making a SEP contribution for 2014. It is not too late! Here is how it works.
In most cases, an IRA owner who names a trust as the beneficiary of their IRA names either the spouse or a child as the trustee of the trust. This may not be the best option, especially if they cannot answer the following 15 questions.
For a variety of reasons, you might be considering naming a trust as your IRA beneficiary. If that’s the case, then chances are that you have questions about how, exactly, that would work. One of the most common questions people have when they name a trust as their IRA beneficiary is, “Who will pay the tax on the inherited IRA distributions? The trust, or the trust beneficiaries?” We answer that question in this article.
It’s been a roller coaster of a few weeks for many investors, and anytime that’s the case, the subject of owning gold always seems to come up. With that in mind, today we share answers to five of the most common questions asked regarding to owning gold within an IRA.
October will be here before you know it. I know this because I have already seen Halloween candy in the grocery store. October 15 is the deadline for doing a Roth recharacterization. Here is what you need to know.
Recent weeks have been volatile times for the markets. In times of economic uncertainty, tools that allow you a “do over” are more valuable than ever. As an IRA owner, you have such a tool in your IRA tool kit: the recharacterization. We will discuss the many reasons you may consider a recharacterization.
As you are probably aware by now, the stock market has been on a bit of a downturn as of late (to say the least). It’s no fun to lose money in the market, but if you’re investing for the long haul, losses are bound to happen from time to time. If you’re quick on your feet, however, you can turn the proverbial lemons into lemonade by taking actions now to make the most of a bad situation. Here's how.
Have you seen or read those ads for putting gold in your IRA? They make it sound so easy. And that's the problem. In this article, we discuss the potential pitfalls and how to properly invest in gold with your IRA.
If you are an IRA owner looking for the best investment option, there are new rules in 2015 that you will want to know before moving your IRA. If you make an error in your effort to maximize the return on your IRA, you may end up with your entire IRA being distributed and taxable to you.
