Topic
IRA
195 published works
Benefit Notes
Using Your IRA to Buy a Business: Still a Risky Strategy
By Stinson LLP
I blogged in the past (here and here)about decisions in which taxpayers have used assets in their IRA to finance a new business. This structure is sometimes known as a…
Wills, Trusts & Estates Prof Blog
Gross Income Includes IRA Distributions
In a recent Tax Court Memo, the IRS determined that petitioners Elroy and Darlene Morris failed to report taxable distributions in 2011 from an individual retirement account. Morris v. Commissioner,…
Wills, Trusts & Estates Prof Blog
When It’s The Right Call To Put IRA’s In A Trust
For certain high net worth individuals it may be beneficial to place an IRA into a trust fund for the protection of the IRA and beneficiaries from potential bankruptcy and…
Wills, Trusts & Estates Prof Blog
IRA Tax-Free Rollovers Annual Limit
As I have previously discussed, the new rule that only one tax-free IRA rollover may be made by any IRA held by the taxpayer in one year, is now in…
The CPA Desk
Yes, there’s still time to make a 2014 IRA contribution!
By Jim Streets
The deadline for 2014 IRA contributions is April 15, 2015. The limit for total contributions to all IRAs generally is $5,500 ($6,500 if you were age 50 or older on…
Wills, Trusts & Estates Prof Blog
Avoiding the IRA “Double Tax”
When an IRA account holder dies, their estate may be facing the "double tax" of both federal income and estate taxes on the IRA, as well as possible state income…
Wills, Trusts & Estates Prof Blog
Considerations for Rollovers to an IRA
For individuals deciding to rollover an employer retirement plan to an IRA, there are many considerations and tasks to check off along the way. Here are a few:Consider rolling over…
Wills, Trusts & Estates Prof Blog
IRA Match Program
In an attempt to entice new customers, Fidelity has begun offering contribution matching for customers that transfer an existing IRA to Fidelity. The incentive program works by matching a percentage…
Wills, Trusts & Estates Prof Blog
Article on IRA Administration for High Net Worth Clients and Their Beneficiaries
Svetlana V. Bekman (Chicago, Illinois) recently published an article entitled, IRA Administration for High Net Worth Clients and Their Beneficiaries—Unique Challenges and Best Practices for Financial Institutions, 39 ACTEC Law…
Wills, Trusts & Estates Prof Blog
Common IRA Mistakes
Many people are not maximizing the benefits of an IRA. Here are common mistakes that lead to an underutilized IRA:Not contributing the max amount allowed, which changes as the account…