In the COVID-19 era, one possible source of extra cash is your Roth IRA. But, beware, some Roth account withdrawals may not be tax-free.Read More
Archive for the ‘Retirement’ Category
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4 Layers of Nonqualified Roth IRA Withdrawals
Nonqualified Roth withdrawals can potentially come from four different layers and different federal income tax rules apply to each layer.Read More
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Beware: Retirement Plan Loan Defaults Can Be Costly
The COVID-19 pandemic has resulted in many people borrowing from their companies’ qualified retirement plans, but this should be used only as a last-resortRead More
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Avoid Penalties on Early Retirement Plan Account Withdrawals
The COVID-19 pandemic has resulted in many people borrowing from their companies’ retirement plans, but this could have averse affectsRead More
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Now May Be a Good Time for a Roth Conversion
Low market values may provide a tax-smart opportunity to convert your traditional IRA to a Roth IRA. Here are some factors to consider.Read More
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Stretch IRAs Lose Potency under the SECURE Act
The Setting Every Community Up for Retirement Enhancement (SECURE) Act contains a number of favorable provisions that will help Americans save more for retirement. However, the new…Read More
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What Employers Should Know About the SECURE Act
The Setting Every Community Up for Retirement Enhancement (SECURE) Act was mainly intended to help individuals save more for retirement. But the new law also contains provisions…Read More
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SECURE Act Affects Retirement and Tax Planning for Individuals
On December 20, President Trump signed into law the Setting Every Community Up for Retirement Enhancement (SECURE) Act. It was part of the Further Consolidated Appropriations Act…Read More
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New Rules Will Soon Require Employers to Annually Disclose Retirement Income to Employees
As you’ve probably heard, a new law was recently passed with a wide range of retirement plan changes for employers and individuals. One of the provisions of…Read More
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The Key to Retirement Security Is Picking the Right Plan for Your Business
There are many retirement plan options for small business owners and their employees. Here’s a quick rundown of three of them.Read More