Matt Smith

Can You Contribute to a Roth IRA?

Contributing to a Roth IRA is generally considered to be a good idea. But not everyone is eligible to make an annual contribution. We have seen several cases recently of individuals who contributed for many years until they discovered they were not eligible to make any Roth contributions. Here is what you need to know.

Can You Lose an IRA to Medicaid?

As Americans live longer, more are eventually coming to need long-term nursing home care. The cost of this can be devastating to a family. Nursing home care now costs an average of over $85,000 per year, and much more than that in some parts of the country.

IRS Official Says Back-Door Roth Transactions are OK

For years there has been concern by some planners that a back-door Roth conversion might be considered a step transaction by IRS. Most planners, however, did not feel that a back-door Roth fit all the criteria of a step-transaction.

Late 401(k) Deposits

Every retirement plan custodian has an interactive website that participants can visit, if their employer offers that feature. While all are a little different, the websites all contain access to vital information about your account under the plan.

Rolling Over IRAs & Excess Contributions: Today’s Q&A Mailbag

Question: My husband passed away this April at 83. I’m 68 and sole beneficiary of his traditional IRA. I was advised that it didn’t matter if I rolled his IRA into mine and then took his RMD for the year as long as I do so by 12/31/2018. I rolled his IRA into mine early May.