Tag Archives: IRA
Oops – I Accidentally Contributed to a Roth IRA
If you earned more than the Adjusted Gross Income (AGI) limit for Roth IRAs for 2011 ($179,000 for Married filing Jointly, $122,000 for Single), but you still contributed to a Roth IRA, there are 2 ways that you could be … Continue reading
Understanding Required Minimum Distributions (RMDs)
As many of us move closer to retirement age, or are already there, and either already are taking or will soon have to take distributions from Retirement Plans and IRAs, there are a number of points you should know about … Continue reading
The Generation of Social InSecurity…Taking Control of Your Own Retirement
By now, this is not an original or even shocking topic. If you speak to most 20-, 30- and 40-somethings, the idea that our government’s Social Security program will adequately provide for younger generations in retirement is a recurring joke. … Continue reading
Consolidate your Retirement Plans without losing Diversification
I am ashamed to admit that after spending nearly 10 years in the financial planning industry, I finally got around to rolling over my old employer’s 401(k) plan to an IRA. For years, I reviewed my quarterly statements and kept … Continue reading
New Medicare Tax
Beginning in tax year 2013, a new Medicare tax of 3.8% will be applied to all unearned income of high income tax payers. “High Income” is defined as married couples with more than $250,000 of Adjusted Gross Income (AGI) and … Continue reading
Tax Rules Relating to Qualified Plans and IRA’s
Many clients are surprised by how complicated the tax rules are as they relate to Qualified Plans and IRA’s. These plans are the best way to save money for retirement, but may be heavily taxed if you are unaware of … Continue reading
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