Posts tagged as:

Roth-IRA

Taxes from A to Z: R is for Roth IRA

20 March 2011

Every now and again, I write a piece knowing that there will be a backlash of some sort. This is one of those pieces. You’d think something like a retirement plan would be easy, with little to no controversy. But since its inception under the Taxpayer Relief Act of 1997, the Roth IRA has drawn [...]

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Ask the taxgirl: Roth Conversions

23 April 2009

Taxpayer asks: Hi, I am currently retired, age of 60. I have pension income of $48K / yr and investment income of 20K/ yr. What are the tax consequences of converting a 401k of $120K to a Roth IRA? To limit taxes, should the conversion be structured over several years? Thanks, Taxgirl says: Retirement planning [...]

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Retirement Account Rules Tweaked for 2009

29 December 2008

Just before the holidays, President Bush signed a bill that eliminated the hefty penalty for not taking the required minimum distributions (RMDs) from certain tax-deferred retirement accounts such as traditional IRAs and 401(k) plans for the year 2009. Under the traditional rules, you must begin RMDs for traditional IRAs and 401(k) plans by April 1 [...]

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Ask the Taxgirl: Rollovers

12 April 2007

Taxpayer asks:  I had a IRA from a former employer that was rolled over to a brokerage account in 2006.  While preparing for my tax appointment, I contacted the brokerage house to find out if I was due a 1099 as I hadn’t received one.  They said no.  So I went to my appointment, got [...]

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Tax Changes for 2006 (Pt 2)

7 March 2007

One of the most important tax changes for 2006 is the increase in the contribution limit for Roth and traditional IRAs rises for those taxpayers who are aged 50 or more. The increase is more than 10% from $4,500 to $5,000. But if you’re under age 50, sorry, the contribution limits remain the same. Even [...]

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