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Tag Archives: IRA
Highlights of the Protecting Americans from Tax Hikes Act of 2015
With just a couple of weeks before year end, Congress passed the Protecting Americans from Tax Hikes Act of 2015 (PATH Act). The legislation deals with more than 50 tax provisions that expired December 31, 2014. Some provisions were extended, … Continue reading
Inherited IRAs
Individual Retirement Accounts are considered to be exempt retirement funds within the meaning of the federal bankruptcy law. However, in a unanimous decision, the Supreme Court recently held that inherited IRAs do not qualify for protection from creditors in bankruptcy. … Continue reading
Posted in Retirement
Tagged bankruptcy, individual retirement account, inherited IRA, IRA, penalty, retired, Supreme Court
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IRA Rollover Distributions Within 60 Days
We had a question come up at work a few weeks ago and I think it’s a good strategy that few people take advantage of. One of our customers, let’s call him Bob, wanted to buy a car for his … Continue reading
IRA Contributions: Reducing Your 2013 Tax Bill
If you are looking for a way to reduce your 2013 tax bill, you may want to consider making an IRA contribution. It’s not too late, IRAs may be funded until April 15, 2014 for a deduction on your 2013 … Continue reading
IRAs
Looking for a way to reduce your 2012 tax bill? If you have earned income and meet certain other requirements, you might want to consider making a contribution to an individual retirement account (IRA). It’s not too late; IRA contributions … Continue reading