One of the most common questions retirement savers ask is, “Where should I be saving for retirement? Should I be saving in my employer’s plan? An IRA?” While there’s no one-size-fits-all answer to these questions, IRA Technical Expert Jeffrey Levine implores you to take advantage of "free" money.
By the time you read this blog, April 15, 2015 might have passed. If not, you’re in luck - you still have time to make a 2014 Traditional or Roth IRA contribution. How much time do you still have?
A taxpayer went to IRS with the plea that the 60-day IRA rollover period came and went without activity due to her financial instability during a time of employment insecurity and other stressful experiences. What was IRS' response to the request for more time?
We are frequently asked how to take an undistributed RMD (required minimum distribution) for an IRA account owner in pay status who died during the year. So, should the RMD come out of the deceased owner’s account before or after it is re-titled as an inherited IRA?
If you are handling the affairs of an IRA owner who died last year, you need to be on the lookout for certain IRS reports that show IRA activity last year. Joe Cicchinelli walks you through the year-of-death reporting process.
The April 15 tax-filing deadline is fast approaching. If you haven't yet filed your taxes, don't panic. You can request a six-month extension. Can you get the same extension to make a 2014 IRA contribution? This article provides that answer plus some helpful places to search online if you need a tax-filing extension.
IRAs are complicated, even more so if you believe one thing, but the correct rule is the complete opposite. These 5 common IRA myths spell trouble - taxes, penalties, hardships and missed opportunities - for those that believe them.
On Monday, we posted an article to The Slott Report detailing 3 reasons why you may want to use a Roth IRA instead of a 529 plan to help save for a child’s college education. Since then, we’ve received a fair amount of feedback from readers and follow-up questions, many of which asked if using a Roth IRA to pay for a child's education expenses now would impact their aid in the future. We have the answer.
If you turned age 70 ½ last year in 2014 and have a traditional, SEP or SIMPLE IRA, you must start taking required minimum distributions (RMDs) for that year and every year going forward. When is the required beginning date? IRA Technical Expert Joe Cicchinelli puts you on a deadline you must meet to avoid steep penalties.
For some time now, the cost of a college degree has been rising at perilously high rates, and as a result, the dream of one day going to college, for many, remains just that ... a dream. With college tuition and associated costs rising so dramatically, it’s no surprise that people are looking for new and creative ways to save for these expenses. One such alternative method involves the use of a Roth IRA over more traditional college savings vehicles, such as 529 plans and Coverdell education savings account. Here are three reasons why it may be a good move.
