If you’re like many people, you’ve worked hard to accumulate a large nest egg in your traditional IRA (including a SEP-IRA). It’s even more critical to carefully plan Read more
You still have time to make 2017 IRA contributions
Tax-advantaged retirement plans like IRAs allow your money to grow tax-deferred — or, in the case of Roth accounts, tax-free. The deadline for 2017 IRA contributions is April 17, 2018. Deductible Read more
Two Five-Year Tests for Roth IRA owners
The pros and cons of Roth IRAs, which were introduced 20 years ago, are well understood. All money flowing into a Roth IRA is after-tax, so there is no upfront tax benefit. As a tradeoff, all Read more
You may need to add RMDs to your year-end to-do list
As the end of the year approaches, most of us have a lot of things on our to-do lists, from gift shopping to donating to our favorite charities to making New Year’s Eve plans. For taxpayers Read more
Yes, you can undo a Roth IRA conversion
Converting a traditional IRA to a Roth IRA can provide tax-free growth and the ability to withdraw funds tax-free in retirement. But what if you convert a traditional IRA — subject to income taxes on all Read more
Smart options for investing in tax-deferred accounts
In a previous article, we discussed whether you should pay off credit card debt or save for retirement. In that article, we discussed contributing enough to your employer’s retirement plan to earn a Read more
2016 IRA contributions — it’s not too late!
Yes, there’s still time to make 2016 contributions to your IRA. The deadline for such contributions is April 18, 2017. If the contribution is deductible, it will lower your 2016 tax bill. Read more
The ins and outs of reporting nondeductible IRA contributions
Workers under age 70½ can deduct contributions to a traditional IRA, as long as they are not covered by an employer’s retirement plan. The same is true for those workers’ spouses. Read more
Have a new job? Don’t neglect your old retirement plan
There’s a lot to think about when you change jobs, and it’s easy for a 401(k) or other employer-sponsored retirement plan to get lost in the shuffle. But to keep Read more
Should you make a qualified charitable distribution from your IRA?
In 2015, a tax break valued by many charitably inclined retirees was made permanent: the qualified charitable distribution. If you are age 70½ or older, you can make direct Read more