Category Archives: IRA

A New Rule for 401(k) After-Tax Money

The IRS recently issued a very tax-friendly ruling for anyone taking after-tax money out of their 401(k) retirement plan. If you have after-tax money in your 401(k) retirement account, you can now roll it into a Roth IRA where it … Continue Reading

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New 401(k) and IRA Contribution Limits

With tax season fast approaching, remember that an easy way to reduce your taxes is to reduce your income. Contributing more to your 401(k) or IRA reduces your taxable income and your contributions grow tax-deferred, until you make withdrawals at … Continue Reading

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Are Inherited IRAs Protected from Creditors?

Among their many benefits, qualified retirement plans are protected from claims by creditors. However, the Supreme Court unanimously ruled last month that inherited IRAs are not retirement accounts and, therefore, not protected from creditors. The high court’s ruling agrees with … Continue Reading

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Is Your Individual Retirement Account Extreme?

All things in moderation? Apparently, Americans ignore Ben Franklin’s sage advice when it comes to investing for retirement. According to the October 2014 report issued by Employee Benefit Research Institute (EBRI), almost 60 percent of individual retirement account (IRA) owners had … Continue Reading

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Timing of IRA Contributions Can Help or Hurt You

The early bird catches the worm – and, in the investment world, also potential for greater returns. Think about this: IRA investors can make IRA contributions any time from January 1 of the tax year to the following year’s April … Continue Reading

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401(k) Options When You Change Employers

When you change employers what becomes of your 401(k) account? There are four choices. You can leave the money in your former employer’s plan, if permitted; roll over the assets to your new employer’s plan, if permitted; roll over the assets … Continue Reading

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Good News for IRA Owners

On January 2, 2013, President Obama signed the American Taxpayer Relief Act of 2012 also known as the Fiscal Cliff Bill into law. While tax rates grabbed all the headlines, the bill also included some good news for charities – … Continue Reading

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