The year 2010 may well be remembered as the year of the Roth IRA. That’s because legislative changes that have taken effect this year are making it more advantageous – and possible – than ever before to rollover money from traditional IRAs into Roth IRAs. Most notably, the previous limits on adjusted gross income that [...]
Who is required to pay the IRA Rollover Tax?
Posted by admin on April 3rd, 2010
Is there an actual IRA rollover tax? Strictly speaking, no. But does that mean you won’t be required to pay taxes when you rollover your IRA? Not necessarily.
2010 Changes to the IRA Rollover Tax Policies
Posted by admin on March 30th, 2010
Generally speaking, if you rollover your money from one IRA to another IRA, there are no IRA taxes involved. Money invested in an IRA is usually tax deferred, meaning that you don’t pay taxes on the money when you earn it, but rather when you withdraw it from the IRA. So long as the money [...]
Avoid the IRA Rollover Tax with a Direct Transfer
Posted by admin on March 23rd, 2010
Moving your money from an old employer-sponsored retirement plan – like a 401k or a 403b – to an IRA can be a smart move financially, as these accounts typically offer a wider range of investment opportunity and higher returns overall. However, if you aren’t careful, you could wind up on the hook for [...]
Understanding IRA Rollover Tax Implications
Posted by admin on March 16th, 2010
Tax planning should be a crucial part of your retirement savings strategy, as simple tax mistakes can easily cut the balance of your retirement accounts in half. Let’s look at some of the most common situations that can trigger IRA rollover tax implications within your retirement plans.
IRA Rollovers from Employer-Sponsored Plans
The most common [...]
IRA Rollover Tax
Posted by admin on November 17th, 2009
IRA Rollover tax is usually avoided unless you do something stupid, explained below