Divorce or Remarriage? Time to Check Your Beneficiary Forms
After either a divorce or a remarriage, it is time to check your beneficiary forms.
Tax Planning
3 RMD Solutions for Illiquid Investments Within an IRA
If you hold illiquid assets inside an IRA, here are three potential solutions to consider that can be used to help you avoid any RMD problems once you turn 70 ½.
There’s More Than One Way to Move a Roth IRA
If you have a Roth IRA, you may want to move it to a different IRA custodian. Whatever the reason, you can move your Roth IRA funds to another Roth IRA at any time. There are two ways to do that; using a rollover or a transfer.
5 Key Differences Between IRAs and Employer-Sponsored Retirement Plans
A recent survey by TIAA-CREF revealed some startling data. Over one-third of those surveyed either did not know what an IRA is or the difference between an IRA and an employer-sponsored plan. That’s not good news and needs to be fixed. So, with that in mind, below are 5 key differences between IRAs and employer-sponsored retirement plans.
IRA Contribution Limit Won’t Change for 2015
The IRS issued a news release (IR-2014-99) that announced the 2015 cost-of-living adjustments (COLAs) for IRAs and other retirement plans. While many of these limits increased, some did not.
Your Roth IRA Calculator May Be Lying to You
If you've ever questioned whether a Roth IRA contribution or conversion was right for you or not, then chances are you've wondered if there was a simple calculator that could take all your pertinent data, analyze it, and then, like a “Magic 8 Ball" of Roth planning, spit out a definitive "yes" or "no," telling you what the correct course of action is. But is it possible that the calculator is lying to you?
When is Tax Free NOT Tax Free?
Tax free just has a nice ring to it, doesn’t it? There are many types of tax-free income. Life insurance proceeds, qualified Roth IRA distributions and municipal bond interest come to mind as three of the most common sources. If these various types of income are all “tax free” though, does that mean that they all have the same, seemingly non-existent, impact on your tax return? Maybe, maybe not. Consider the following.
IRS Gives Certain Michigan Residents More Time to Complete Some IRA Transactions
Victims of severe storms and flooding that started on August 11, 2014 in parts of Michigan may qualify for tax relief from the Internal Revenue Service. On September 26, the IRS issued News Release MI-2014-21, which extended certain deadlines for individuals and businesses affected by those storms. Read on to see if you are affected by these extensions.
IRS Help for Small Business Employer Plans
The IRS website includes several valuable free employer retirement plan resources. One example is their newsletter Retirement News for Employers. There is a section of this specific newsletter that examines starting an employer plan. Read on for more details on this newsletter and other free IRS resources.
3 Questions and Answers for IRA Owners and Beneficiaries Living Abroad
IRAs are U.S.-based retirement accounts. Today, however, more than ever we live in a globalized world. Many U.S. citizens work, sometimes for many years, overseas. The reverse is also true. And many of our country’s citizens still have many close friends and family overseas. Put all that together and today, it’s possible that you may have questions about how the IRA rules work when either you or your beneficiaries live abroad. With that in mind, below we tackle three of the most common questions.
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