The Internal Revenue Service (“IRS”) issued proposed regulations regarding the provisions of the SECURE 2.0 Act of 2022 (“SECURE 2.0”) that relate ...

When you leave a job, it’s generally a good idea to take your 401(k) plan with you. This doesn’t mean you should cash it out, ...

We'll begin with the basics. Mr. Howell notes that "almost all" of his money is in his IRA accounts. So let's assume he has ...

Savvy retirees tap retirement accounts with a tax plan. Each type of account may have different tax rules and rates, so know ...

David Kindness is a Certified Public Accountant (CPA) and an expert in the fields of financial accounting, corporate and individual tax planning and preparation, and investing and retirement planning.

Retirees who collect reduced Social Security benefits early often need to take some IRA money to meet spending goals. These retirees could be hit by what's known as the "tax torpedo." This occurs ...

Roth IRAs give you tax-free withdrawals in retirement, though not everyone can contribute to one. They make the most sense for those who expect to be in the same or a higher tax bracket in retirement.

When you convert funds from a traditional IRA or 401(k) to a Roth IRA, you’re essentially converting pre-tax dollars to after-tax dollars. This conversion triggers a taxable event, meaning you ...

The traditional IRA didn't exist until 1974, and 401(k) accounts weren't a thing until four years later. Roth retirement accounts only surfaced in 1997, and Roth 401(k) accounts weren't allowed ...

Don’t convert an inherited traditional IRA to a Roth IRA. It’s simply not allowed. You can take a distribution from an inherited traditional IRA, pay taxes on it, and contribute money to a ...

Contribution limits. There’s no limit on how much money you can put into a taxable brokerage account, but Roth IRAs have maximum annual contributions. For 2025, the maximum contribution you can ...