IRA

Three Ways to Pull Money from Your IRA at Any Age - Without Getting Dinged

Three Ways to Pull Money from Your IRA at Any Age - Without Getting Dinged

Individual Retirement Accounts (IRAs) are used by many people to save for retirement because of the benefits of contributing to IRAs while you are working. However, if you want to access the money in your IRA before age 59 ½, you may owe taxes on the withdrawal, in addition to the hefty 10 percent penalty for early withdrawals.

Do You Know About the TCJA Reform Attack on IRA Recharacterizations?

Do You Know About the TCJA Reform Attack on IRA Recharacterizations?

A tax and retirement planning tool used by some individuals has been eliminated with the passage of the Tax Cuts and Jobs Act (TCJA). However, even though we may be losing an effective tax planning opportunity, all is not lost. There are still some ways to use IRA recharacterizations that comply with the TCJA.