Learn about qualified distributions from retirement accounts, IRS rules, tax implications, and how to maximize your tax benefits while avoiding penalties.

There are plenty of ways to minimize your tax liability and that’s especially true when you have worked hard to sock away retirement money. Tax advisors are constantly searching for new ways to avoid ...

Recently, I’ve wondered if it makes sense to transfer the inherited IRA to a non-retirement account, take the tax and ...

There is a key change for inherited IRAs for 2025. Here's what beneficiaries need to know before year-end to avoid an IRS ...

In the current volatile economy, it may not be surprising if clients want to raid their retirement savings before age 59½. It’s never a good idea, experts say, but if it’s absolutely necessary, there ...

Answer: If you got a deduction for contributing this money, and you want to keep the funds you’re required to withdraw, then yes, you have to pay taxes on these distributions.

Transferring some of your retirement savings from a tax-deferred account like a 401(k) to a Roth IRA can help you reduce or ...

The only way to avoid taxes as you roll money from a 401(k) to an IRA is to ask your plan administrator to issue a check directly payable to the new account. If you opt to have a check sent to you ...

There are currently 41 states and Washington, D.C. that do not tax Social Security benefits. The remaining nine states that ...

You probably already know that saving for retirement can be challenging. It's not just finding money you can spare. You also have to decide where to put it and what to invest it in, so it'll be worth ...