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      • Patricia Harik
      • Kevin Thompson
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Retirement and Taxes: Understanding IRAs

11/9/2022

 
Individual retirement arrangements, or IRAs, provide tax incentives for investments that most employees can use to provide for their financial security in retirement. Accounts can be set up with banks or other financial institutions, such as life insurance companies, mutual fund firms or stock brokerages.

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What to Do With an Inherited IRA

5/25/2022

 
Have you inherited an IRA following the death of the owner? Are you the spouse of the original owner? Is the account a traditional IRA, Roth IRA, SEP, or SIMPLE IRA? These questions and more will be important to answer.

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The SEP-IRA: Just Right for Small Businesses

1/13/2021

 
An employer-sponsored retirement plan can be a great way for employers to show workers they care about employees' long-term financial prospects while giving workers a way to save on their taxes.

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Inheriting an IRA: How to Handle It

8/12/2020

 
What are the tax implications of an inherited traditional IRA? Tax rules differ depending on whether or not the beneficiary is a spouse. Be sure you know the rules, because your decisions may have serious tax consequences.

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IRAs: Know the Basics

5/8/2019

 
​Individual retirement accounts help workers, especially those without access to employer-based plans, save for retirement. Anyone with earned income from a job claimed for tax purposes or who has a spouse with earned income can open and contribute to an IRA. Lawmakers designed these accounts to promote retirement savings and receive big tax savings, but added restrictions to discourage early withdrawals, making it harder to raid your life savings.

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Real Estate in Your IRA: A Good Idea?

4/10/2019

 
​Real estate can be a great investment, and many people don't know they can also put property into their IRAs. However, they have to be careful: one small mistake and an IRA's tax advantages disappear.

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What to Know About the SEP-IRA

1/30/2019

 
​An employer-sponsored retirement plan can be a great way for employers to show workers they care about employees' long-term financial prospects while giving workers a way to save on their taxes.

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401(k) and IRA Contribution Limits Increase

11/21/2018

 
​The IRS has announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2019.

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Inherited IRAs: Not Safe From Creditors

6/6/2018

 
​Funds in an IRA aren't subject to creditors' claims — it's said they are exempt from inclusion in the bankruptcy estate. This rule is meant to help debtors who go through bankruptcy to get a fresh start. But when an IRA owner dies and the account is inherited and that person files for bankruptcy, does the rule still hold?

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The Adaptable SEP IRA: How It Can Work for You

4/11/2018

 
​A Simplified Employee Pension IRA was designed to encourage retirement benefits in businesses that would otherwise not set up employer-sponsored plans. Sole proprietors, partnerships and corporations — even S corporations — can establish SEPs. SEP IRAs can receive employer contributions but with a higher annual contribution limit than standard IRAs. Think of a SEP IRA as a traditional IRA that lets employer contributions be vested immediately.

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