Effective January 1, 2023, the age for stating required minimum distributions (RMDs) increased from 72 to 73. You must make required minimum distributions from your traditional IRAs after you reach […]
Tag: IRA
Inflation Reduction Act Provisions Of Interest To Small Businesses
The Inflation Reduction Act (IRA), signed into law by President Biden on August 16, contains many provisions related to climate, energy and taxes. There has been a lot of media […]
Are You A Nonworking Spouse? You May Still Be Able To Contribute To An IRA
Married couples may not be able to save as much as they need for retirement when one spouse doesn’t work outside the home — perhaps so that spouse can take […]
What Happens If Your Spouse Fails To Designate You As Beneficiary Of His Or Her IRA?
One advantage of inheriting an IRA from your spouse is that you’re entitled to transfer the funds to a spousal rollover IRA. The rollover IRA is treated as your own […]
Retiring Soon? Recent Law Changes May Have An Impact On Your Retirement Savings
If you’re approaching retirement, you probably want to ensure the money you’ve saved in retirement plans lasts as long as possible. If so, be aware that a law was recently […]