Rollover Chart

Rollover Chart  

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What Is Your Required Beginning Date?

What Is Your Required Beginning Date? If you are an IRA owner, you must begin taking required minimum distributions (RMDs) from your IRA. For your very first RMD only, the ...

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Are You Responsible for a Gift Tax?

Are You Responsible for a Gift Tax? If you give a non-spouse a gift valued more than the annual exclusion amount, you could be subject to a gift tax. For ...

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72(t) Rules

72(t) Rules If you have an IRA and are under age 59½ but want to take distributions from your IRA, one exception to the 10% penalty for early IRA withdrawals ...

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Contribution Limits Increase

Contribution Limits Increase Retirement plan contribution limits have slightly increased for 2019. Here is a simple overview: Source: www.irs.gov  

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Prohibited Transactions and IRAs

Prohibited Transactions and IRAs A prohibited transaction is an impermissible transaction under the Internal Revenue Code that occurs between an IRA and a disqualified person. Disqualified persons include the IRA ...

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Year-End Planning Checklist

Year-End Planning Checklist Holidays can be stressful but take advantage of any travel delays or down time with a cup of cocoa and go over your year-end financial and retirement ...

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Reasonable Cause and IRAs

Reasonable Cause and IRAs When it comes to correcting certain IRA mistakes, what does the IRS consider “reasonable cause”? This is a common question with respect to requests for relief ...

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Changes to the Child Tax Credit

Changes to the Child Tax Credit According to the IRS, taxpayers should be aware of the following changes that were made to the Child Tax Credit after tax reform legislation ...

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Rollovers and Tax Withholding

A client had complained that his 401(k) plan sponsor made an error and withheld 20% for taxes when all he did was “rollover” the 401(k) funds to an IRA. He ...

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