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Category Archives: IRA
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
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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Check Your Beneficiary Forms!
January 29, 2011 A lot can change in a year, such as marriage, divorce, birth or death. When these types of “life events” occur, beneficiary forms need to be updated. Make sure your beneficiary form is up to date. Do … Continue reading
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Make your IRA or Roth IRA contributions early!
January 23, 2011 You have until April 15 of the following year to make an IRA or Roth contribution for the prior tax year. In other words, you can make a 2011 IRA or Roth contribution on April 15, 2012. … Continue reading
Posted in Due Date of IRA Contributions, IRA
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Multiple Beneficiaries of Your IRA Account
Last week I wrote about the issues that you may have if you have more than one beneficiary to your IRA account. I wrote last week’s article because of a case that I was working on. The financial institution (a … Continue reading
Do you have more than one beneficiary named on your retirement account(s)? If so, you need to read this.
Make sure you understand the retirement plan beneficiary form that you sign. One of our local banks is very inflexible in regards to beneficiaries of their retirement accounts. I had a client who died in 2009 and his spouse was … Continue reading
Source of Valuable Information On IRAs, Roth IRAs & Related Topics
October 9, 2010 I recommend visiting Ed Slott’s Web page for a discussion forum where you can ask questions and also see other questions and the answers to those questions. http://www.irahelp.com/forum/viewforum.php?f=1
Posted in Ed Slott, IRA, Rollover IRA, Roth IRA, Roth IRA Advantages
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IRA Beneficiary Form Common Error
September 21, 2010 “Per Stirpes” election on your beneficiary form. I was going over some of the common mistakes in IRA beneficiary forms at a workshop that I gave to a local Kiwanis Club. One of the mistakes that I … Continue reading
Posted in Beneficiary Forms, IRA
Tagged Beneficiary Form Errors, Beneficiary Forms, Per Stirpes
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