Results for "individual retirement accounts (IRAs)"

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2010 Roth conversions are now penalty-free

February 1, 2015

This year marks an important milestone for 2010 Roth IRA conversions. Back in 2010, the Roth IRA conversion rules changed. Before then, there was an income limit for Roth conversions. If your income exceeded $100,000, you could not convert to...

2015 resolution: Avoid 60-day rollovers

January 4, 2015

As of Jan. 1, owners of individual retirement accounts can do only one 60-day rollover a year, for all their IRAs. The rule no longer applies separately to each IRA. In this case, IRAs include traditional and Roth IRAs, as well as SEP and Simple...

IRS targeting IRA rollovers after Tax Court ruling

April 11, 2014

Advisers who are salivating over big IRA rollovers from new clients: Watch out. The IRS has a bull's-eye on those dollars. Starting Jan. 1, the Internal Revenue Service will begin enforcing a rule permitting only one 60-day IRA-to-IRA rollover...

Self-directed IRAs hold risks for financial advisers

December 1, 2014

The year-end tax savings crunch is here. Better make sure your clients don't get snared in a self-directed IRA scam. The North American Securities Administrators Association on Monday warned investors about the fact and fiction behind the duties...

Caution: New IRS rules for IRA rollovers come with risks for advisers

November 11, 2014

The Internal Revenue Service has published further guidance on its new one-IRA-rollover-per-year rule, but financial advisers beware: You must ask clients key questions on where their money has been or risk a snafu that could sever that relationship....

Taxpayer lobbying group sues to kill California automatic retirement savings plan

June 4, 2018

A taxpayer lobbying organization sued to halt implementation of the California Secure Choice Retirement Savings program, a new state defined contribution plan for private-sector workers that do not have access to a tax-favored retirement plan....

Age matters in Social Security-claiming strategies

January 10, 2014

Academic discussions of optimal Social Security-claiming strategies for married couples may make these important decisions seem clean and easy when both spouses are the same age. But real life is often messy. J.J. Green, president and chief...

IRA conversions surge ahead of tax break end

January 4, 2014

Tax Break for IRA Conversion Lured 10% of Millionaires Congress dangled an incentive for high-income Americans to convert their tax-deferred individual retirement accounts into post-tax plans. Their response was overwhelming. Conversions from...

Parents lose out on 401(k) windfall

November 10, 2013

The 8th U.S. Circuit Court of Appeals recently ruled that a surviving spouse's promise to waive her rights to her husband's 401(k) funds by signing a postnuptial agreement was invalid because the agreement was written incorrectly. As a result,...

IRA moves that won't get you in trouble

August 8, 2014

Earlier this year, the retirement industry was surprised by a Tax Court ruling that changed the interpretation of the number and timing of rollovers an individual retirement account owner could direct. The tax court determined that IRA rollovers...

A global call to modernize retirement systems

May 29, 2018

Worrying about the future of retirement is not a uniquely American concern. It is a global phenomenon. Almost half of today's workers and retirees worldwide believe that future generations of retirees will be worse off than those currently in...

Understand clients' pension plans

August 18, 2013

A ruling against the plaintiff in a recent pension benefit case highlights the need for financial advisers to understand clients' pension plans, particularly plans' rules around marriage. The 6th U.S. Circuit Court of Appeals recently ruled...

Stop the presses: IRA balances surge

July 26, 2013

Here's welcome news on the retirement savings front, courtesy of Fidelity Investments. Average balances on IRA saving accounts Fidelity administers reached over $81,000 at the end of 2012, a 53 percent increase from the end of 2008. Fidelity...

Finra warns on misleading pitches for 'free' IRAs

July 18, 2013

The Financial Industry Regulatory Authority Inc. is warning its member firms against using misleading pitches for “free” individual retirement accounts. In a regulatory notice posted on Finra's website, the regulator said it had “observed...

To Roth (IRA) or not to Roth, that is the question

April 14, 2014

Although Roth IRAs have been available since 1997, changes in recent years to the U.S. Tax Code have made these retirement savings accounts more popular than ever. In 2010, higher income limits allowed larger numbers of investors, particularly...

IRS: Only one IRA rollover per year

April 13, 2014

Last month, I wrote about the case involving the so-called once-per-year IRA rollover rule (Alvan L. Bobrow, et ux., v. Commissioner, TC Memo 2014-21, Docket No. 7022-11). The Tax Court ruled that once per year means exactly that. The rollover...

A warning on multiple IRA rollovers

March 16, 2014

In a game-changing decision that has wide-ranging ramifications for financial advisers and tax professionals alike, the Tax Court ruled that the once-a-year IRA rollover rule applies to all of one's individual retirement accounts, not to each...

Eliminating 12(b)-1 fees won't help IRA holders: report

March 3, 2013

Making individual retirement accounts safer for investors will take more than getting rid of 12(b)-1 fees. That was the conclusion reached by Boston College's Center for Retirement Research in a recent report in which the authors questioned...

Take a fresh look at Roth conversions

February 17, 2013

Now that we finally know the tax laws for this year, it is time to sit down with clients and re-evaluate their financial and tax plans. Some may be relatively unaffected by the American Taxpayer Relief Act of 2012, while others may require adjustments....

Qualified charitable distributions return

January 20, 2013

As expected, Congress has renewed the special tax break for charitable individual retirement account rollovers, known as qualified charitable distributions. QCDs apply only to IRA owners and beneficiaries 701/2 or older who make a direct transfer...

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