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He was over 71 years old and was taking annual required minimum distributions...My adviser opened a decedent IRA account for my Dad's IRA money to be transferred into. Once that happens I will write a check to my sister whose portion I took. My guess
I have a 401(k) retirement account with my employer, and want to use this account to supplement my Social Security and investment income during retirement...A: We've all seen the rollover ads from brokerage, insurance, and mutual fund firms. Recent
We are retired and living off of our retirement and investment income...A: Wouldn't it be nice if you could put some of that retirement and investment income into an IRA account and deduct it as an adjustment to your income to lower your tax bill?
Reading the tax rules that are posted on the IRS site it seems like you can but I'm still not sure. I have heard from several people who say you can, but I'm still a little hesitant. A: The IRS considers investment management fees as expenses for the
There are no free lunches and there are no freedespite the advertisements you see to the contraryIRAs...In fact, IRA account owners are likely to face at least three types of fees: those associated with the account itself; fees associated with the
The Sacramento Bee What's the best way to transfer an IRA account between spouses in a living trust? This week, CPA Gregory Burke, a former IRS auditor now with John Waddell & Co...Several years before retirement, we established a living trust, which
This week, CPA Gregory Burke, a former IRS auditor now with John Waddell & Co...Several years before retirement, we established a living trust, which includes most of our assets. My wife is required to take (regular withdrawals) from her retirement
04/24/2013 10:33:15 AM PDT Updated: 04/24/2013 10:33:15 AM PDT Q: I contributed $6,000 to my IRA account in 2012. My tax preparer told me that this was $1,000 more than the allowed maximum contribution.
My wife will be 70 1/2 this year; she is still working and has a 401(k) retirement plan at work...Required minimum distributions (RMDs) are the amounts that a retirement plan account owner is required, by law, to withdraw annually. Generally, account
That means that you are responsible for funding your own retirement and the sooner you start saving, the better. Fortunately, most of today's employers offer plans you can contribute to...These plans have various names like 401(k), 403(b), or Simple