Here’s a sample of questions my clients commonly have about retirement plan rollovers.
Does a Roth IRA Count as an Asset in Insolvency Calculation for Cancelled Debt? Short answer is: yes.
A non-deductible IRA contribution refers to money put into a traditional IRA, for which the taxpayer does NOT get a tax deduction.
This blog post defines what Roth IRA means
Last month on Technical Tax Tuesdays, I wrote about Roth recharacterizations in general, and gave an example of a simple recharacterization. This month, I’ll look at a more complex recharacterization. As mentioned in last month’s column, the tax consequences of a Roth recharacterization are simple if no other money has been put into the Roth […]
EDITOR’S NOTE: Technical Tax Tuesday is a monthly feature published on the second Tuesday of each month in which Jason will go in-depth and work through a tax situation. If you have a topic you think would be a good fit for Technical Tax Tuesday, please e-mail Jason at firstname.lastname@example.org. ——————————– Roth conversions have been […]
The IRS has released cost-of-living adjustments for 2012. More information on pension limits can be found here. More information on other COLA adjustments can be found here. Some highlights: The contribution limit to IRAs remains at $5,000. The income limits on the IRA deduction phaseout and Roth IRA contributions have been increased*. The contribution limit […]