Results for "individual retirement accounts (IRAs)"

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Lord Abbett offers discounts on new IRAs

January 5, 2010

Lord Abbett & Co. is offering discounts to clients who open an individual retirement account by April 15. The mutual fund company announced it will waive its $10 annual custodial fee for such accounts, and will pay FedEx shipping charges for...

Roth IRA can affect homebuyer credit

January 3, 2010

The latest version of the tax credit for first-time homebuyers has two new features that may make the credit more widely available, which means more clients with Roth conversion income may be affected. Under the Worker, Homeownership and Business...

Two items to add to Jan. 4 to-do list

November 29, 2009

There are few places in the tax law where one can “undo” an earlier taxable act. Exercising incentive stock options and converting a conventional individual retirement account to a Roth IRA are two of these. Since it's possible to optimize...

Skewed IRA, 401(k) data present window for advisers

November 24, 2009

Government estimates about how much investors withdraw from their 401(k)s and IRAs are probably way off — maybe by hundreds of millions of dollars, according to a report published yesterday by the Investment Company Institute. This is significant...

Roth IRA conversions 101: The basics of the 2010 rule

November 10, 2009

In retirement, your paycheck might go away, but taxes won't. Still your tax bill can be hard to predict. To have some control over how much you pay the government each year, you should have both taxable and non-taxable accounts from which to...

Rollover firm on a roll

November 8, 2009

The lousy economy hasn't been bad for everyone. More companies and workers have abandoned 401(k) plans amid the downturn, and that has helped Millennium Trust Co. LLC, which provides rollover services to companies that terminate 401(k) plans...

MoneyGuidePro Version 2.2 now available

November 8, 2009

A significant update to the popular financial planning program MoneyGuidePro was rolled out last week. Version 2.2 of the application has several new features, including an internal Roth IRA conversion feature as well as a stand-alone Roth IRA...

New ruling reopens window for taxpayers

October 25, 2009

The suspension of 2009 required-minimum distributions from retirement plans and IRAs was enacted as part of the Worker, Retiree and Employer Recovery Act of 2008, which was signed into law Dec. 23. Although the distribution requirements were...

Convert to a Roth? Decision depends on many unknowns

October 18, 2009

To deal with the “Roth revolution” that starts next year, advisers' best tool may be a crystal ball. Any decision to convert wealthy clients' traditional individual retirement accounts into Roth IRA in 2010 involves assessing current and...

Roth IRA conversion confusion creates opportunity for advisers, Schwab study finds

October 12, 2009

The pending rule changes around Roth IRA conversions present a huge business opportunity for financial advisers to have deeper conversations with clients, according to a new survey by Charles Schwab & Co. Inc. Starting Jan. 1, people making...

“Roth revolution” just around the corner, adviser predicts

October 2, 2009

The elimination of the income limit on Roth IRA conversions starting next year could lead to a “Roth revolution,” according to David Polstra, a partner at the advisory firm Brightworth Private Wealth Counsel. Speaking today at the Investment...

IRS closes NUA tax loophole

September 27, 2009

The Internal Revenue Service has closed another loophole in the Tax Code. This time, it involves the tax break known as net unrealized appreciation in employer securities. Depending on the appreciation of the company stock an employee has in...

Approach Roth IRA calculators with caution

July 26, 2009

Financial advisers beware: All Roth IRA conversion calculators are not created equal. A calculator — whether found on the web or nestled in a more sophisticated financial planning software package — isn't a bad jumping-off point when trying...

IRS kills 72(t) payment correction request

July 26, 2009

The Internal Revenue Service recently ruled that an improper transfer of funds from an individual retirement account from which the client was taking 72(t) payments triggered the 10% early-withdrawal penalty. In an IRS Private Letter Ruling...

IRS shoots down new Roth IRA ploy

June 21, 2009

When Roth individual retirement accounts were created, it was inevitable that some taxpayers would attempt to exploit their advantageous provisions. Since then, the Internal Revenue Service repeatedly has taken steps to minimize Roth IRA scams....

Retirement assets plummeted in '08, ICI says

June 9, 2009

U.S. retirement assets were down 22% at the end of 2008, compared with yearend 2007, according to a report released yesterday by the Washington-based Investment Company Institute. As of Dec. 31, the assets totaled $14 trillion, down from $17.9...

Education expenses and 72(t) plans

May 24, 2009

Individual retirement account owners under 59½ who take a distribution from their IRA are subject to a 10% penalty on the taxable amount of the distribution. But there are several exceptions to the penalty. For example, IRA owners with a continuing...

Obama seeks $1B to fund auto-IRA agency

May 17, 2009

President Obama wants as much as $1 billion to establish a federal organization to oversee his proposed automatic-IRA plan. The specific government re-sources devoted to this program — which could enroll an estimated 75 million people in direct-deposit...

Obama wants to fund agency that would support IRAs for all workers

May 8, 2009

President Obama has asked for $1 billion to create a new agency that will support the automatic individual retirement account proposal included in his 2010 budget. Details of this automatic pension program — which would require companies that...

Helping clients tap retirement savings

April 26, 2009

Chances are, you have clients in financial distress, with a need for ready cash. Just a few years ago, they might have taken out a home equity loan or sold their home. Today, selling a home is difficult, and home equity lines of credit are being...

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