When you opened your Roth IRA account, you may have assumed all distributions would always be tax-free. This, however, is a common misunderstanding that can leave you in a world of pain come tax season

Knowing your loved ones have financial support upon your passing helps provide peace of mind. With this in mind, many people use life insurance policies and Roth IRAs to provide income to loved ones and to leave an inheritance.

The opportunity cost argument surrounding Roth conversions suggests that an opportunity is lost by paying the conversion tax upfront instead of investing it.

While tapping into your retirement account should usually be a last resort, some situations may cause you to consider accessing your money early.

If you intend to leave assets to multiple people, having them listed properly as beneficiaries is essential.

Estate beneficiaries are often subject to a heavy tax burden when inheriting a loved one’s retirement assets. If the estate is subject to both federal estate and income taxes, consider the income in respect of a decedent (IRD) deduction to avoid double taxation.

IRA rollovers have common pitfalls that can result in costly errors if not executed properly.

Oversight while splitting financial assets can result in one or both spouses paying unnecessary taxes and penalties. Ensure your retirement assets are properly handled to avoid additional stress.

Retirement plan contribution limits regularly increase. In response to inflation, the IRS announced substantial increases to many of these limits for 2023.

Managing taxes during retirement might be the single most critical factor influencing your retirement lifestyle. As you transition from working for an income to withdrawing income from your savings and investments, you might have questions: How can I maximize my income while minimizing income taxes in retirement?

Louis Orgera, Partner at Lizzul, Orgera & Weihs, CPA, P.C. completed his semiannual training with America’s IRA Experts at Ed Slott and Company, LLC in Dallas, Texas. May 2-3, 2019.

The increasing costs of healthcare is one of the top concerns among Americans today.

Looking for a way to secure a financially stable future for your child? An IRA may be the solution!

When the time comes for your beneficiaries to receive your IRA assets, are you confident they will use their inheritance in a way that you’d want them to?

Turning 70 is a big milestone that’s hard to miss, but once you turn 70 ½, there is an annual to-do that can easily be forgotten.