by Renu Vardhan | Aug 6, 2010 | Retirement Plans, Tax, Tax Penalties
Considering the current economic conditions, most of us are turning to our retirement funds for financial needs. However, we need to be aware of the tax consequences that may follow with such distributions.Since the contributions to these plans are made from our...
by Renu Vardhan | Jul 30, 2010 | 2010 Credits/Deductions, Required Minimum Distribution(RMD), Retirement Plans, Tax Changes
Beginning in 2010, the rules for conversions of traditional IRA money to a Roth IRA are changing by eliminating the MAGI limitations and hence, making more investors eligible to convert their traditional IRAs to Roth IRAs. However, look before you leap….just...
by Renu Vardhan | Nov 12, 2008 | Pension Plan Limits, Retirement Plans, Tax Changes
IRS has announced the 2009 Pension plan limits.Accordingly,401(k) or 403(b) Deferral Limit – $16,500 and Catch-Up Contribution Limit(Age 50 or older) – $5,500Simple IRA Account Deferral – $11,500 and Catch-Up Contribution Limit(Age 50 or older)...
