Question:
Does a SIMPLE IRA owner who is over age 73 and still works for the same company that sponsors the SIMPLE IRA plan have to take an RMD (required minimum distribution)? He does not own any of the company.
You have been contributing to your IRA for years. The market is up, and you are watching those investments grow. Maybe you have rolled over funds to your IRA from your company plan. You may now have a significant balance. So far, you have taken smart steps toward a secure future. Don’t stop your careful planning there.
It is perfectly acceptable for a person to participate in multiple work plans in the same year (even at the same time). For example, a 401(k) and a SEP. Or maybe a 401(k) and another 401(k). However, care must be taken to follow IRS contribution limits and other guidelines. Unfortunately, people try to circumvent these rules all the time.
QUESTION: At age 80, after I take my required minimum distribution (RMD), can I then do a rollover from my...
After more than two years, we might actually soon be getting answers from the IRS on several important unanswered questions...
We are surrounded with information – and misinformation. Finding accurate up-to-date facts is increasingly difficult. Do an internet search and...
Question: When can we expect final SECURE Act regulations from the IRS? Mike Answer: Hi Mike, No one knows for...
As retirement account questions go, this is the shortest inquiry with the longest answer. When asked what factors to consider...
A recent government report highlights how confused 401(k) participants are when they have to decide what to do with their...
Question: Can an individual who is using the age 55 exception to the 10% early distribution penalty roll over a...
