Know Your IRA

The road to retirement is long. Along the way you may need or want to move your retirement funds. Maybe you are leaving a job or maybe you are just looking for a new investment strategy. When the time comes to make a move, you will want to be sure that everything is done correctly. Rolling over retirement funds can be tricky and the consequences of a mistake can be serious. Here are 6 things about rollovers that every IRA owner needs to know.

Most people are aware of the tax concept, Required Minimum Distributions or “RMDs.” These are the tax rules that force you to take a distribution from your IRA or qualified plan, even when you don’t want to. Moreover, that distribution is usually taxable, and it cannot be rolled over!

When reviewing some of their key differences, the most important thing to ask yourself is “When is the most advantageous time to pay tax on my income?”

It’s that time of year again. Tax season is upon us. This is now the time when many individuals consider funding their IRAs. Contributing to an IRA may seem pretty straight forward and in many ways it is! But there can be twists. Here are five IRA contribution rules that may surprise you.

Learn how offering a SEP plan could help you and your employees save a lot of money while reducing your tax bill.

Do you know the date you’re required to begin taking your required minimum distributions (RMDs) from your retirement accounts? For IRA owners or employer plan participants, your required beginning date (RBD) is a day that should be marked in red on your calendar. Be aware that the rules differ depending on the type of retirement account you have and whether you are the account owner or the beneficiary.