Retirement

Everything you need to know about Retirement
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Individual Retirement Accounts - Backdoor Roth IRA: This handout reviews the rules which allow an individual to bypass income limitations and effectively make a Roth IRA contribution.
 

Individual Retirement Accounts - Kinds of IRAs and Prohibited Transactions: This handout discusses the various types of IRAs and the tax benefits and implications of each. It also discusses the effect of the taxpayer's participation in prohibited transactions within these types of accounts.

 

Individual Retirement Accounts - Qualified Charitable Distribution (QCD): This handout reviews the rules on how to take a taxable traditional IRA distribution and convert it into nontaxable by making qualified charitable distribution.

 

Individual Retirement Accounts - Required Minimum Distributions (RMDs): This handout reviews the rules for required minimum distributions from IRAs and defined contribution plans.

 

Individual Retirement Accounts - Roth IRAs: This handout discusses the tax advantages of a Roth IRA. It includes information on contribution and conversion rules.

 

Individual Retirement Accounts - Traditional IRAs: This handout discusses the tax advantages and rules of traditional IRAs. It also includes the phaseouts for deducting contributions for taxpayers who are also covered by an employer-sponsored plan.

 

Individual Retirement Accounts: Beneficiaries of IRAs and Qualified Plans: This handout discusses the choices a beneficiary has when inheriting a traditional or Roth IRA. It includes information on required minimum distributions.

 

Retirement Income: This handout discusses a taxpayer's various sources of retirement income including Social Security, pension, and IRA distributions. Age-specific requirements and tax implications are highlighted.

 

Reverse Mortgages: This handout contains information for homeowners over age 62 who may be interested in converting the equity in his or her home into cash. Included is guidance on who qualifies for a reverse mortgage and examples of reverse mortgage situations.

 

Saving for Retirement: This handout highlights the various types of retirement accounts along with the contribution limits and rules. The handout also includes information on qualifying for the Retirement Savings Contribution Credit.

 

Social Security and Medicare: This handout highlights the components of Social Security retirement and disability benefits. It also provides an Overview of Medicare eligibility and benefits.