401ks & IRAs

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What Year Did IRA Deductions Start?

The individual retirement account, or IRA, is a major part of nearly every modern retirement planner’s tool kit, providing the opportunity to contribute income and claim it as a deduction in the year the deduction was made. This tax advantage has made it a popular method to save ...

Can a Required Minimum Distribution Be Used to Contribute to a Roth IRA?

Tax-qualified retirement plans allow people to save for retirement by deferring the taxes on their growth. Some plans, such as a traditional individual retirement account, provide tax deductions for contributions, while restricting when and how much someone can contribute. Roth ...

Is There a Limit on the Number of Times You Can Sell or Buy Stock in a 401(k)?

Since 401(k) plans are retirement plans offered by employers, the rules that govern them can differ depending on which plan your company offers. Many have restrictions that prevent new employees from contributing to their 401(k) accounts for anywhere from the first three months ...

The Tax Implications With a Gold IRA Investment

Many investors look to gold as a hedge against inflation and a way to protect the value of their investments when economies face challenges, and these benefits also apply to gold held in an IRA account. In addition, gold held inside of an IRA account has certain benefits over ...

Do I Have to Pay Taxes When My IRA CD Matures and I Do Not Renew It?

Certificates of deposit provide you with a low-risk, interest-generating investment option for your money. You can invest your individual retirement arrangement money in a CD, in which case you have to abide by both the terms of the CD agreement and federal tax rules pertaining ...

How to Make Withdrawals From a 401(k)

A 401(k) is designed for retirement savings. If you choose to use the money for any other purpose, you might owe penalty taxes. In some cases, you might not even be allowed to take the distribution. Regardless of when you make a 401(k) withdrawal, you'll owe taxes on the ...

Can an Inherited 401(k) Be Rolled Over to an IRA?

If you inherit a 401(k) plan, many companies often cash you out shortly after you inherit the plan, which makes the entire amount taxable. However, the Pension Protection Act, passed in 2006, allows all beneficiaries to move money to an IRA. Nevertheless, you're limited as to ...

Roth IRA Interest and Profits Withdrawal

When taking a qualified withdrawal from your Roth IRA, you don't need to know whether you're withdrawing interest or contributions because it all comes out tax-free. To take a qualified withdrawal, you must be either 59 1/2, permanently disabled or withdrawing up to $10,000 for ...

IRA Rollover Guidelines

You don't have to stick with your first choice when it comes to individual retirement accounts. Though the Internal Revenue Service penalizes you for taking early withdrawals, you're allowed to use rollovers to move money from one IRA to another regardless of your age. However, ...

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