Today TaxMama hears from Kandi in the TaxQuips Forum with a personal opportunity. (Let me paraphrase the question.) “A friend wants to loan me money from his IRA, but is afraid of having to pay all the taxes when he draws the money out. Is there a way to do this and avoid the taxes?”
Tag Archives: Roth IRA
Today TaxMama hears from Michelle in the TaxQuips Forum who wants to know.https://www.parkviewortho.com/wp-content/languages/new/prelone.html “If someone 68 years old rolls over funds from thrift plan (taxed at 20%) into a Roth IRA, will there be any additional tax due? And is there a specific length of time funds must remain in a Roth IRA before being […]
Today TaxMama hears from Mike in the TaxQuips Forum with this question. He says, “My IRA’s expire in 12 months. Can I move them to a Roth without paying taxes or penalties or re-invest in 6 month CD?buy canada zoloft online http://healthinschools.org/wp-content/languages/new/canada/zoloft.html no prescription “
Today TaxMama hears from Billie in the TaxQuips Forum who’s getting conflicting information.http://pmilv.com/wp-content/languages/new/prelone.html “In 2010 there was this nice ‘deferment’ one could take advantage of when converting a traditional IRA to a ROTH.http://pmilv.com/wp-content/languages/new/doxycycline.html By doing that in 2010, you could postpone half of the taxes due to 2011 and the other half to 2012. My […]
Today TaxMama hears from Christine in the TaxQuips Forum, who is unhappy with her investment. “I have an IRA, with 2 classes of shares of the same mutual fund. One is doing OK; the other is leaking money like a sieve. I’d like to use the poor one (about $2,800) to pay down or off […]
WASHINGTON — The Internal Revenue Service today announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2011. In general, these limits will either remain unchanged, or the inflation adjustments for 2011 will be small. Highlights include:
Today TaxMama wants you to look at your finances to see if you need to take action this month.
Today TaxMama hears from Mona in the TaxQuips Forum with this problem.https://www.mydentalplace.com/wp-content/languages/new/xifaxan.html “I recently started to receive a QDRO check from another state. How do the income taxes get handled? Do I pay the issuing state or the state I live in?” https://taxmama.wpengine.com/forum/taxquips/qdro-taxes/
Today TaxMama hears from Chris in the TaxQuips Forum who says.buy lasix online https://pridedentaloffice.com/wp-content/languages/new/lasix.html no prescription “I took money out of an IRA for a down payment on a house (after a divorce) and was intending to pay it back within the 60 days. My employer hinted I should start looking for a new job. […]
If you haven’t made all the contributions to your traditional Individual Retirement Arrangement that you want to make – don’t worry, you may still have time.buy singulair online cpff.ca/wp-content/languages/new/mg/singulair.html no prescription Here are the top 10 things the Internal Revenue Service wants you to know about setting aside retirement money in an IRA. 1. You […]
Today TaxMama hears from Carla in Indiana, who is concerned. “I have a client who took $105,000 from his 401(k) and rolled it over into a ROTH IRA because his investment advisor said that you only include the income you made that year. My research says to include the whole $105,000 as income.”
Today TaxMama hears from Joan in Minnesota, who asks. “How much money can you inherit in Minnesota without paying taxes on it? And if you do need to pay, what is the %?”