Archive for the ‘Roth IRA’ Category

Roth Conversion Stretch Option Could be Answer to Republican Tax Plan

November 16th, 2017

Republican tax writers on Capitol Hill are still considering changes to 401(k) retirement savings programs, downplaying President Donald Trump’s repeated pledges not to touch retirement account. A proposal to lower contribution caps to 401(k) plans, which are not taxed until money is withdrawn from them, could limit the amount Americans can save for retirement or […]

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2018 IRA Contribution Limits Announced

October 24th, 2017

Last week, the IRS announced the new limits for retirement plans for 2018.  Here’s what you need to know about your IRA Contributions – 2018 IRA (including Self-Directed IRAs) Contribution Limit – Limits remain the same as 2017.  For individuals under age 50, the limit is $5,500.  For those 50 and older, you can make […]

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Factors To Consider When Contemplating A ‘Backdoor’ Roth IRA

October 17th, 2017

The following originally appeared on Forbes.com and was written by our own Adam Bergman – There have been no income level restrictions for making Roth IRA conversions since 2010, hence a high income earner can do a conversion of after-tax (non-deductible) IRA funds to a Roth IRA, which is known as a ‘backdoor’ Roth IRA. […]

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Your Self-Directed IRA Fees May Be Tax Deductible

September 11th, 2017

Unbeknownst to many retirement account holders, payment of individual retirement account (“IRA”) custodian/trustee fees may be generally tax-deductible. Under Internal Revenue Service (“IRS”) rules, in place of the standard deduction, one can deduct certain expenses as miscellaneous itemized deductions on Schedule A (Form 1040 or Form 1040NR). One can only claim the amount of expenses […]

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When Are you Allowed to Make a Contribution to a Traditional IRA?

September 5th, 2017

Contributions can be made to your traditional IRA for a year at any time during the year or by the due date for filing your tax return for that year, not including extensions. For most people, this means that contributions for 2017 must be made by April 17, 2018, and contributions for 2018 must be […]

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Transferring a Roth IRA to a Self-Directed Roth IRA LLC

August 24th, 2017

Individuals may generally transfer Roth IRA or rollover eligible qualified retirement plan assets into a self-directed Roth IRA LLC structure. Individuals may not rollover Roth IRA funds into a qualified retirement plan, such as a Solo 401(k) Plan or a pre-tax IRA account, such as a Traditional IRA or SEP IRA. What is the most […]

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What Are the Main Advantages of Converting to a Self-Directed Roth IRA?

May 17th, 2017

The main advantage of a Roth IRA over a Traditional IRA is that if you qualify to make contributions, all distributions from the IRA are tax-free. Furthermore, unlike traditional IRAs, you may contribute to a Roth IRA for as long as you continue to have earned income (for a traditional IRA – you can’t make […]

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Retirement And Educational Savings Tax Planning Tips To Lower Taxes In 2017

April 24th, 2017

Now that the tax filing deadline has passed for the 2016 tax year, this is a perfect time to start thinking about some simple ways to boost retirement savings and at the same time lower overall tax liability for 2017. Start Thinking IRA: For 2017, the maximum IRA contribution is $5,500, or $6,500 if you […]

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