Archive for the ‘Retirement’ Category.
December 12, 2022, 10:00 am
The IRS announces with IR-2022-217 The IRS reminds taxpayers that are over 72 years of age that is born in 1950 must begin receiving payments from Individual Retirement Accounts (IRAs) and workplace retirement plans. The payments are called required minimum distributions (RMDs), even if th...
Click here for more October 24, 2022, 12:00 pm
The IRS provides a timely and excellent reminder in Tax Tip 2022-162 about important info for people to consider before they dip into their hard-earned retirement savings for hardship distributions, early withdrawals or loans. In addition to a reminder n Required Minimum Distributions.
No...
Click here for more October 23, 2022, 3:08 pm
Just a little reminder the Backdoor ROTH is not a certainty going forward, it lives to fight another tax year!
If your income exceeds the limits to contribute directly to a Roth IRA, you may have heard about the so-called 'Backdoor Roth IRA,' which allows traditional IRA conversions to ...
Click here for more September 24, 2021, 2:50 pm
The IRS provides an excellent breakdown on the different types of IRA’s, their uses and differences, the contributions and withdrawal features of each.
Individual Retirement Arrangements, or IRAs, provide tax incentives for people to make investments that can provide financial security ...
Click here for more September 20, 2017, 12:00 am
In a compassionate move realizing the extent devastation from Hurricane Irma and Harvey before it to taxpayers in FEMA designated areas, the IRS has included in the definition of Hardship under IRC Sections 401(k) and 403(B) distributions to victims of hurricane Irma as followed hurricane ...
Click here for more August 30, 2016, 12:00 am
IRA and Retirement Plan Rollovers
WASHINGTON — The Internal Revenue Service today provided a self-certification procedure designed to help  recipients of retirement plan distributions who inadvertently miss the 60-day time limit for properly rolling these amounts into another retir...
Click here for more January 11, 2016, 12:00 am
By Jillian K. Poyzer, CPA, and Timothy R. Yoder, CPA, Ph.D.
January 1, 2016
Money invested in retirement accounts reaps the benefits of tax-deferred earnings and is therefore good for tax planning purposes. But putting money into retirement accounts limits the availability of funds bec...
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