I usually try to steer clients away from making contributions to a retirement account after the year ends, even if they might get a deduction in that prior year. Example: an individual has until April 15, 2022, to put money into an IRA and count it (and take a deduction for it) as a 2021 […]
If you take money out of a retirement account to buy a house (for example to make a down payment), you can avoid the 10% early withdrawal penalty … but only on IRA withdrawals. The rules on retirement withdrawals are tricky and vary between 401(k) accounts and IRAs. With home purchases, you can take money […]
Here’s a sample of questions my clients commonly have about retirement plan rollovers.
A non-deductible IRA contribution refers to money put into a traditional IRA, for which the taxpayer does NOT get a tax deduction.
This post discusses how to calculate an RMD.
This blog post defines what Roth IRA means
In the tax world, “IRA” stands for “individual retirement account.”
How will couples in same-sex marriage handle prior-year differences in after-tax basis between federal and state taxes?
Have a tax question burning in your mind? E-mail me at firstname.lastname@example.org. (Ask Jason has been discontinued) DISCLAIMER: The answers to questions in this segment are intended to be general in nature and do NOT constitute tax advice. Please contact a tax advisor to discuss your unique situation. Q: My mother had an IRA […]