traditional ira

IRS to Modify IRA Rollover Rules

by Michael on Mar 27, 2014

In the past, the IRS limited you to one IRA rollover per year per account. But, thanks to the Tax Court’s recent ruling in Bobrow vs. Commissioner, that will be changing. Indeed, as of next year, you will be allowed just one IRA rollover per year. Period. This change was […]

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If you’re in a lower tax bracket and have been looking for a good reason to get off your butt and start saving for retirement, here it is… In short, you may be eligible for a tax credit that offsets as much as 50% of your traditional or Roth IRA, […]

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Roth IRA Income Limits for 2013/2014

by Michael on Jan 29, 2014

As a followup to my earlier posts on IRA contribution limits and the income limits for traditional IRA deductions… I thought I’d highlight the income limits for making Roth IRA contributions. As you’re likely aware, not everyone can contribute to a Roth IRA. Rather, depending on your modified adjusted gross […]

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One of the big reasons that many people contribute to a traditional IRA is for the tax deduction. But not all contributions qualify. How do you know if you’ll be able to deduct your IRA contributions? Simple. Just compare them to the applicable income limits. For 2014, these limits (like […]

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Setting Financial Goals for 2014

by Michael on Jan 1, 2014

Welcome to 2014! I’m not sure about you, but we don’t have any major, life-changing resolutions for the year ahead. That said… We do have some financial goals for the next 12 months. What sort of goals? Since we don’t have any debt, we’re primarily focused on our investment accounts.

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As we chug through November, I want to continue looking ahead to 2014. So let’s talk a bit about IRA contribution limits. According to the IRS, the 2014 contribution limits for traditional and Roth IRAs will remain unchanged from 2013 levels. That means you can contribut a max of $5,500/year […]

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Putting a Cap on Retirement Accounts?

by Michael on Apr 12, 2013 · 3 comments

One of the big pieces of news out of President Obama’s budget proposal was a proposed cap on retirement accounts. You may have heard rumblings about this in the form of a possible $3M limit on balances across all of your retirement accounts. Today I want to shed a bit […]

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Roll Your IRA Into a 401(k)?

by Michael on Apr 3, 2013 · 4 comments

Much has been written about the virtues of rolling over your 401(k) into an IRA. But what about doing the opposite? Believe it or not, there are cases in which you might want to roll IRA funds into a 401(k) plan. Note that not all 401(k) plan administrators allow this […]

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