IRA Archives - BeachFleischman CPAs

Retiring soon? Recent law changes may have an impact on your retirement savings

March 4, 2021 March 19, 2021 Tax Department Estates & Trusts, Tax Bites IRA, IRA contributions, retirement, RMDs, SECURE Act

Saving for retirement can help make your future brighter. Recent tax law changes might allow you to save more with your IRA or retirement plan.

Didn’t contribute to an IRA last year? There may still be time

March 1, 2021 March 30, 2021 Tax Department Tax Bites IRA, IRA contributions, retirement plan contributions, SEP

Saving now for retirement is one of the best moves you can make to help ensure financial security. If you’re eligible, you still have time to contribute to an IRA or SEP and save on your 2020 tax return.

A nonworking spouse can still have an IRA

June 3, 2020 November 6, 2020 Tax Department Tax Bites IRA, IRA contributions

If you’re married and you don’t work outside the home, you still may be able to contribute to an IRA. Here are the rules for spousal IRAs.

4 new law changes that may affect your retirement plan

January 8, 2020 February 3, 2021 Tax Department Tax Bites IRA, IRA contributions, retirement plans, SECURE Act

A new law might provide you with tax-saving opportunities related to your IRA or retirement plan.

IRA charitable donations are an alternative to taxable required distributions

October 30, 2019 Tax Department Tax Bites charitable donations, IRA, required distributions, tax

Are you charitably minded and have a significant amount of money in an IRA? If you’re age 70½ or older, and don’t need the money from required minimum distributions, you may benefit by giving these amounts to charity. IRA distribution basics A popular way to transfer IRA assets to charity is through a tax provision[ … ]

Tax-smart options for your old retirement plan when you change jobs

October 7, 2016 October 6, 2016 Tax Department Tax Bites 401k, direct rollover, early-withdrawal penalty, IRA, Retirement Plan, tax-deferred savings

There’s a lot to think about when you change jobs, and it’s easy for a 401(k) or other employer-sponsored retirement plan to get lost in the shuffle. But to keep building tax-deferred savings, it’s important to make an informed decision about your old plan. First and foremost, don’t take a lump-sum distribution from your old[ … ]