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Category Archives: IRA Cataegories
I have read a number of conflicting views on the Roth conversion issue that relates to people over 59½. So I turn to you. I am 62 years of age. I have had a regular Roth IRA for over five … Continue reading
Please mark Your IRA Calendar with the following deadlines
October 17: Deadline to recharacterize a 2010 Roth Conversion or IRA Contribution. October 31: Deadline to provide trust documentation to the IRA custodian, if the IRA owner died during 2010 and the beneficiary of the IRA is a qualified trust. … Continue reading
Substantially Equal Periodic Payments (A Doorway to Penalty Free Distributions)
by Denise Appleby, CISP, CRC, CRPS, CRSP, APA Generally, taxable distributions from IRAs, qualified plans or 403(b) accounts are subject to a 10% excise tax (early distribution penalty), if the distribution occurs before the owner reaches age 59 ½. However, … Continue reading
Posted in 401(k), Distributions, IRA Cataegories, Penalties
Tagged 401(k), 72(t), Distribution, Early Distribution Penalty, IRA, SEPP
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Naming Your IRA or 401k Beneficiary In Your Will May Not Work
By Denise Appleby, CISP, CRC, CRPS, CRSP, APA If you named your Will as the beneficiary of your IRA, 401(k), 403(b) or other retirement account, including stating “As per my Will” or “Will” on your beneficiary designation form, you need … Continue reading
Posted in 401(k), Beneficiary Forms, IRA Cataegories
Tagged 401(k), Beneficiary Form Errors, Beneficiary Forms, IRA
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Required Minimum Distributions for 2010
April 1, 2011 Deadline If you turned 70 ½ in 2010, you must take your 2010 Required Minimum Distribution (RMD) by April 1, 2011. Also remember that you will have to take your 2011 RMD by December 31, 2011. Click … Continue reading
Posted in Inherited IRAs, IRA, RMD, Uncategorized
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Self-Directed IRAs
A client called one of my CPA partners to ask about purchasing a Condo in Florida with a self-directed IRA. My partner asked me to call the client to go over the issues with a self-directed IRA owning real estate … Continue reading
Estate as a Beneficiary of Your IRA Is Usually a Mistake!
If you make your estate the beneficiary of your IRA, you will lose some of the opportunities to stretch the IRA over the life of your beneficiaries. Your objecive in regard to your beneficiary forms should be to allow your … Continue reading
“Wrap fees” won’t be treated as IRA or Roth IRA contributions
IRS has privately ruled that a financial institution’s “wrap fees” that are paid for separately by the institution’s clients won’t be treated as IRA or Roth-IRA contributions. The fees, which depend on the value of the clients’ assets, are overhead-type … Continue reading
Saver’s Credit- An Often Overlooked Retirement Savings Benefit
Click on this link to an article by Denise Appleby, CISP, CRC, CRSP, APA on the Saver’s Credit For instance, if your adjusted gross income for married filing jointly is less than $34,000.00, for 2011 ($33,500.00 for 2010) you may … Continue reading
Posted in IRA, Saver's Credit, Uncategorized
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Inherited IRAs
February 5, 2011 An inherited IRA is an IRA inherited by anyone other than the spouse. A non-spouse IRA beneficiary cannot do an IRA rollover. Only a spouse can do a rollover to their own account. The non-spouse can move … Continue reading
Posted in Inherited IRAs, IRA
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