401(k) and taxes?

I am really confused. I’m doing my own taxes, because I’m cheap and want to save $100. I am having trouble with the following questions online: Did you withdraw or receive distributions or payments from:A retirement plan such as an IRA, Roth IRA, or 401(k) in 2005 or 2006? A retirement plan such as an…

Read More

Why did a McCain aide say today that we need to lower the capital gains tax rate on 401 (k) plans?

He said this on MSNBC today. If he doesn’t know, capital gains tax DOES NOT apply to 401 (k) distributions. Withdrawals from these retirement accounts are taxed as ORDINARY INCOME. So why would he say that we need to lower it for 401 (k) plans? They also do not apply to ANY retirement plan, contributions…

Read More

Retirement Planning – Spotlight February 2010

http://www.producersweb.com The February Spotlight on Retirement Planning discusses findings from Hewitt Associates indicate that 80 percent of companies that suspended or reduced their company match to employee 401(k)s are planning to restore it this year; the fact that economists estimate that, as baby boomers enter retirement in 2019, health care costs will reach $4.5 trillion,…

Read More

If I have a retirement plan at work , can I stil contribute to a roth ira -?

I file married filing jointly – what is the income cut off for donating to a roth? Husband is self- employed and no retirement plan – he puts his in a traditional ira – what is his cut off You can still contribute $4000 to a Roth IRA ($5000 if over age 50) if your…

Read More

401k

http://www.cakefinancial.com So you’re interested in an overview of 401(k) plans. A 401(k) plan is a special type of investment account, offered by employers and designed to help you save for retirement. You contribute money to your 401(k) plan through pre-tax payroll deductions. In other words, the money comes straight from your paycheck. Once the money…

Read More

401k Distributions

http://www.cakefinancial.com Most of us spend so much time putting money into a 401(k) plan we forget about the fun part—how you take money out of your 401(k) plan. Generally speaking, you can start taking distributions from your 401(k) plan when you reach age 59½. You can take a little at a time, or all the…

Read More

Top Ten Retirement Distribution Planning Mistakes

View this Lecture for FREE by signing up at http://www.prolibraries.com/fsp/?select=session&sessionID=56 View any number of our other 28,000 sessions from over 280 conferences by going to http://www.prolibraries.com Speaker(s): April Caudill, JD, CLU, ChFC, AEP Top Ten Retirement Distribution Planning Mistakes – Society of Financial Service Professionals Financial Service Forum 2008 The FSP Forum is the premier…

Read More

Am I able to qualify for a deductible IRA if the only retirement plan my company offers is a 401K?

My question concerns only a fully deductible IRA, and the confusion over the IRS wording “to quality….you must not be eligible to participate in a company retirement plan”. My company does not offer a pension plan , but does offer a 401k plan, so does that disqualify me from a deductible IRA ? Basically the…

Read More

No RMD in 2009? Time for a Roth IRA Conversion

There are now no required minimum distributions from your IRA or retirement plan for 2009. This is huge for seniors. Though many news sources have reported this change, here, noted retirement planning expert Jim Lange explains in detail how to proactively take advantage of this new tax law. Seniors can now make a Roth IRA…

Read More

Roth IRA Rollover from Inheritance. ?

– I am inheriting around $30k from my Mom’s IRA. I intend to roll it into a Roth IRA. – I am a professional trader (yeah call it day trading, but that’s not the point of the question, please). I intend to shelter the gains on those trades in the IRA, so I don’t have…

Read More