The Protecting Americans from Tax Hikes (PATH) Act of 2015 was signed into law on December 18, 2015. This bill was commonly known as the “Extenders Bill” because it made several favorable tax provisions permanent that had been temporary, some for many years. Buried way down in the PATH Act was a provision that affected SIMPLE IRAs. We outline what has changed.
Have you made your 2015 IRA contribution? If not, why not? Here are five myths that are commonly cited as reasons for not contributing to an IRA. Don’t miss out on your 2015 IRA contribution because you wrongly believe one of them applies to you.
Here are four details you need to know about IRA-to-Roth IRA conversions and the pro-rata rule. The pro-rata rule also applies to employer plan retirement plan distributions, but it is applied differently.
A new year brings new retirement account rule changes. IRA Analyst Sarah Brenner dissects six retirement account rule changes that you need to know. Everything from qualified chartiable distributions (they are back!) to SIMPLE IRAs and expanded penalty-free distributions for higher education expenses are discussed.
It’s taken almost a full year – literally – but Congress is finally set to pass an appropriations act, which will include the much anticipated extenders bill. However, this isn’t your run-of-the-mill extenders bill. This year’s version of the extenders bill permanently extends several key tax provisions, including the QCD (Qualified Charitable Distribution) provision that allows certain IRA owners to give IRA funds directly to charity without having to include them in income. Stuffed into the bill under a section appropriately titled “Miscellaneous Provisions” are several other changes to the tax law – that have nothing to do with the extenders – but that may impact your planning for one or more reasons. The following is a brief summary of some of the most important provisions in the law.
If you have an IRA and you are approaching retirement age, or if you are already in retirement, you are most likely familiar with the term “required minimum distribution (RMD).” But do you know how the rules work and what they mean for you as an IRA owner? Here are 10 facts about RMDs that every IRA owner should know.
In a way, it is now a new year for IRA contributions. You can no longer make IRA or Roth IRA contributions for 2014 (we warned you about the deadline). Here are 12 things to know about 2015 IRA contributions.
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?
Did you set up a SEP or SIMPLE IRA thinking it was a savings account for your retirement? While it is a way to save for retirement, it is NOT a savings account. Our IRA Technical Expert Beverly DeVeny explains why.
If you participate in your employer’s SIMPLE (Savings Incentive Match Plan for Employees), you need to be aware of the “2-year rule” that applies when moving your SIMPLE IRA money to another IRA.
