Tags » Traditional IRA

Differences between Roth and Traditional IRAs

It is important to start with the differences between the two types of IRAs to understand the consequences of both types for the investor. Below is a simple table to compare and contrast some of the differences between both types of IRAs. 545 more words

Taxes

IRS CLARIFIES ONE-PER-YEAR LIMIT ON IRA ROLLOVERS

The Internal Revenue Service recently issued guidance clarifying the impact a 2014 individual retirement arrangement (IRA) rollover has on the one-per-year limit imposed by the Internal Revenue Code on tax-free rollovers between IRAs. 515 more words

IRS Tax Tips

IRS Raises Retirement Plan Contribution Limits

Roth & traditional IRAs won’t get 2015 COLAs, but other plans will.

Provided by Jeffrey Davis

A little inflation means a little adjustment. As the Consumer Price Index is up 1.7% over the last 12 months, the federal government is giving Social Security benefits a 1.7% boost for 2015 and lifting annual contribution limits on key pension plans as well.1… 743 more words

IRS ANNOUNCES 2015 PENSION PLAN LIMITATIONS

The Internal Revenue Service today announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2015. Many of the pension plan limitations will change for 2015 because the increase in the cost-of-living index met the statutory thresholds that trigger their adjustment. 448 more words

IRS Tax Tips

Naming Your IRA Beneficiary – More Complicated Than You Might Expect

The decision concerning whom you wish to designate as the beneficiary of your traditional IRA is critically important. This decision affects:

  • The minimum amounts you must withdraw from the IRA when you reach age 70 ½;
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Tax Planning

After-Tax 401ks & Rollovers To Roth IRAs

The IRS recently clarified rules surrounding rollovers of qualified plans (401ks, 403bs, etc., all of which I’ll refer to as “401k”s for the rest of this post for simplicity) to IRAs which can have a dramatic impact on a plan participant’s ability to save for retirement in some situations. 1,253 more words

The Traditional IRA and Its Benefits

Last month, I wrote about how young adults should start saving for retirement as soon as possible – and how the Roth IRA is the perfect vehicle for many younger folks.  448 more words

Estate Planning