Category Archives: IRA

Like Harvey, Retirement Plans Can Make Loans, Hardship Distributions to Victims of Hurricane Irma

The following article was published by the IRS. The Internal Revenue Service today announced that 401(k)s and similar employer-sponsored retirement plans can make loans and hardship distributions to victims of Hurricane Irma and members of their families. This is similar … Continue reading

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Your Retirement Income: Why Diversification Matters

When investing for retirement, there are many things to think about in order to get it right. But there are five specific risks that must be addressed in order to preserve both your money and your standard of living as … Continue reading

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Money Moves to Make in Your 40s

With two decades of adulthood behind you, the 40s should be a time when your financial plans are in full swing. But that is not always the case. Either way, it is not uncommon to be fearful of your financial future … Continue reading

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Early Withdrawals from Retirement Plans

The following article was published by the IRS. Many people find it necessary to take out money early from their IRA or retirement plan. Doing so, however, can trigger an additional tax on top of income tax taxpayers may have … Continue reading

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Knowing What Tax Records to Keep

The following YouTube video is from the IRS. Having your financial life organized is important, especially when it comes to your taxes. It not only makes tax preparation much easier, it also positions you better to respond to any IRS … Continue reading

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New Procedure Helps People Making IRA and Retirement Plan Rollovers

The following article was published by the IRS. The Internal Revenue Service recently provided a self-certification procedure designed to help recipients of retirement plan distributions who inadvertently miss the 60-day time limit for properly rolling these amounts into another retirement plan … Continue reading

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IRS Announces 2016 Pension Plan Limitations; 401(k) Contribution Limit Remains Unchanged at $18,000 for 2016

The following article was published by the IRS. The Internal Revenue Service has announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2016. In general, the pension plan limitations will not change … Continue reading

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