Topic
IRA
195 published works
Wills, Trusts & Estates Prof Blog
Reducing Tax Liability On Initial IRA Distributions
When a person turns 70 ½ they are required to take out required minimum distributions (RMDs) from their retirement accounts. One thing to be concerned about are the tax implications…
Wills, Trusts & Estates Prof Blog
Some Tips On IRA Management When A Young Spouse Inherits
When a younger spouse inherits an IRA they are primarily left with two choices, to stay as a beneficiary under the plan or have it roll over into a new…
Wills, Trusts & Estates Prof Blog
After-Tax IRA Funds Can Be Taxable If Basis Cannot Be Proved Or Reconstructed
According to a recent U.S. Tax Court ruling, if the IRA basis cannot be proved or reconstructed then those after-tax IRA funds can be taxed when withdrawn. This can result…
Wills, Trusts & Estates Prof Blog
Costly IRA Mistakes To Avoid
It is very common for clients to be confused about their IRA options. This article provides examples of some of the common mistakes that people can make with IRA accounts. …
Wills, Trusts & Estates Prof Blog
New Book On Inherited IRA Management
The 2015 edition of Inherited IRAs: What Every Practitioner Must Know, 2015 Edition by Seymour Goldberg has recently been published and is available through Shop ABA. Provided below is a description…
Wills, Trusts & Estates Prof Blog
Important Information About IRA Distribution Rules
A report has been put out recently by the Treasury Inspector General for Tax Administration on the need for tax payers to be informed about required minimum distributions for IRAs. …
Wills, Trusts & Estates Prof Blog
Article On Bankruptcy Protection of Tax-Qualified Retirement Plan Beneficiaries
Karen K. Suhre recently published an article entitled, Bankruptcy Protection of Tax-Qualified Retirement Plan Beneficiaries After Clark v. Rameker, 29 Probate & Property 3 (May/June 2015). Provided below is an…
Wills, Trusts & Estates Prof Blog
Retirement Habits In Each Stage Of Life
It is never too early to start planning for retirement. People in their 20s and 30s should start investing funds into either a 401(k) or IRA as a sort of…
Wills, Trusts & Estates Prof Blog
There Are Three Retirement Loopholes That Are Probably Going Away
People use a number of tricks and tips to grow retirement benefits and bypass certain taxes. As these tricks or “loopholes” become more common the government may end up cracking…
The CPA Desk
Opening the “back door” to a Roth IRA
By Jim Streets
A potential downside of tax-deferred saving through a traditional retirement plan is that you’ll have to pay taxes when you make withdrawals at retirement. Roth plans, on the other hand,…