Social Security beneficiaries are receiving a cost of living adjustment in 2012...and while this may sound like a good thing, it’s actually a “mixed bag.” Medicare premiums will also rise, and these increases could equal the cost of living adjustment. Read more...

Found in: Financial Planning

While the requirements for receiving a federal income tax deduction for an IRA contribution are the same no matter what state you live in, the tax treatment of IRA contributions at the state level can vary significantly. Read more...

Found in: Financial Planning

Approaching as quickly as a Caribbean hurricane is October 17, 2011, the day of reckoning for undoing 2010 Roth conversions. Once this date passes, most who made 2010 conversions will be locked into them, as well as their accompanying tax bills. Read more...

Found in: Financial Planning

It’s that time of year again: the back to school season. For those more concerned with retirement than recess, that means it’s time to learn all you can about the latest rules for taxes and IRAs. Here are some of the best resources. Read more...

As the events of the recent “debt ceiling” issue have taught us, borrowing can be a dangerous game. But when it comes to IRAs, borrowing can be more than just dangerous: it can be a fatal error that can decimate a lifetime of savings. Read more...

Found in: Financial Planning

A real-life case that came to our attention dramatically reinforces what we have been professing for more than a decade: Having a financial advisor who is expertly trained in the rules applicable to IRAs can be one of your most important investments. Read more...

Found in: Financial Planning

Many individuals name their spouse as beneficiary of their IRA when in fact the spouse may not need that money to live on. In these cases IRA owners should consider naming their children or grandchildren as their IRA beneficiaries. Read more...

Found in: Financial Planning

In general, there aren’t too many things you can do after a year is over that affect your taxes for a previous year, but thankfully, one of those things is a traditional IRA contribution. We’ll tell you whether or not you qualify. Read more...

Found in: Financial Planning

It is estimated that Baby Boomers stand to inherit a total of $8.4 trillion from the previous generation. Undoubtedly, many traditional and Roth IRAs will be included. Here are some important points to keep in mind when inheriting an IRA. Read more...

Found in: Financial Planning

Many of us are often solicited for strategies involving alternate investments for IRAs. You should have your antenna up when being solicited and when the solicitor states that the investment is either “IRS Approved” or endorsed by the IRS. Read more...

Found in: Financial Planning