Tag Archives | IRA

Roth IRA Tax Strategies, Part Two

Last week I covered strategies for when to use Roth IRAs. An additional aspect of Roths is the benefit of being able to do a conversion from a traditional IRA to a Roth. It is best to consider doing a Roth conversion when your current tax bracket declines temporarily below the bracket you expect to […]

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Roth IRA Tax Strategies, Part One

When saving money for retirement, taxes are not your friend. Their impact, even for those in lower tax brackets, can significantly reduce one’s retirement income. One of the better vehicles Congress created to help people save money that can grow tax-free is the Roth IRA. Unlike a traditional IRA, there is no current tax deduction […]

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Strategic IRA Withdrawals

Last year I reached a significant milestone—age 59 ½, old enough to withdraw money from my IRA’s with no penalty. While I experienced this milestone as bittersweet, it did remind me of the importance of timing when it comes to taking money out of retirement accounts. Making withdrawals at the wrong time can have serious […]

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Senate Targets “Stretch” IRA’s for Elimination

The Senate is considering eliminating the “stretch IRA”,  a popular estate planning strategy that allows a beneficiary of a non-spouse IRA to  stretch out required minimum distributions (RMD) over their life expectancy. The provision requires inherited IRAs to be distributed within 5 years of the original owner’s death. The provision is included in the “Highway Investment, Job Creation and Economic […]

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New IRS Ruling Allows Relief on Unwanted 2009 RMDs

According to IRA guru Ed Slott, IRA Owners and Plan Participants can now put back unwanted RMDs for 2009. RMDs were waived for 2009, but the relief came late in 2008 causing some people to take withdrawals that were not required. This Notice provides retroactive relief for IRA owners and spouse beneficiaries by allowing them to […]

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