7 Things You Might Not Know About an IRA
In the spirit of April being Financial Literacy Month, it’s a great time to point out some of the details about your self-directed IRA (SDIRA) that you might not be...
Calculating Tax on IRA Distributions
Did you take a distribution (or withdrawal) in 2023 from your IRA or other tax-qualified retirement plan? If so, you should have received an IRS Form 1099-R by the end...
2023 IRA Distribution Reporting: IRS Form 1099-R
If you took a distribution from your self-directed IRA (SDIRA) in 2023, you will receive an important tax form toward the start of 2024. IRS Form 1099-R, Distributions From Pensions,...
Mitigating Taxes With a Qualified Charitable Distribution
We don’t normally think of giving money away as the best way to save money. But those who have reached the age when required minimum distributions (RMDs) must be taken...
Minimize or Eliminate RMDs
It is important for IRA owners and beneficiaries to understand the required minimum distribution (RMD) prerequisites and learn how to reduce unnecessary taxes. If an accountholder or beneficiary misses an...
Roth IRAs: The Five-Year Rule for Qualified Distributions
Since 1998, Roth IRAs have proven their worth. The possibility of tax-free earnings has drawn millions of investors to this remarkable retirement savings tool. Annual contributions can help savers accumulate...
