IRS Publication 590-B: And Utilizing Its Benefits

What is IRS Publication 590-B? The Purpose of IRS Publication 590-B The publication also includes examples and worksheets to help taxpayers calculate their contributions, deductions, and distributions. It is a valuable resource for anyone who has an IRA or is considering opening one. Who Should Use IRS Publication 590-B? IRS …

IRA Rollover – Overview, Types, Special Considerations

What is an IRA Rollover? An Individual Retirement Account (IRA) rollover is a financial transaction that allows you to transfer funds from one retirement account to another without incurring any tax penalties. This can be a useful strategy for individuals who want to consolidate their retirement savings or change their …

Inherited IRA: Definition and Tax Rules for Spouses and Non-Spouses

Inherited IRA: Definition and Tax Rules for Spouses and Non-Spouses An inherited IRA is an individual retirement account that is passed down to a beneficiary after the death of the original account holder. This type of IRA allows the beneficiary to continue to grow the funds in a tax-advantaged manner. …

Education IRA: Definition, Rules and Limits, Vs 529 Plan

Education IRA: Definition, Rules and Limits, Vs 529 Plan The funds in an Education IRA can be used to pay for qualified education expenses, including tuition, fees, books, supplies, and certain room and board expenses. These expenses can be incurred at any eligible educational institution, from elementary school through college …