You open an individual retirement account known as an inherited IRA on inheriting a tax-advantaged retirement plan like an IRA or 401(k). The heir needs to transfer such assets from...
Posted by Jim McClaflin, EA, NTPI Fellow on 07/24/2021
The loss of a loved one can lead to emotional burden and significant financial debt related to the settling of the estate. If you are the beneficiary of a retirement plan's assets,...
Posted by Karen Munoz, EA on 07/17/2021
Traditional and Roth IRAs may be the king and queen of the retirement prom, but there are other great options that savers shouldn't ignore.Although there are lesser-known SEP,...
Posted by Jim McClaflin, EA, NTPI Fellow on 06/06/2021
There are subtle variations between what is considered an IRA transfer and what is considered an IRA rollover. Important to know – with either one for the rollover to be tax-free,...
Posted by Income Taxes and Bookkeeping LLC on 01/07/2021
If you want to set money aside for your retirement, an Individual Retirement Account (IRA) provides the perfect opportunity. There are some tax advantages of IRA – it allows...
Posted by James Financial Services Inc on 10/16/2020
