Save your nest egg from the IRS About to retire? Over 70 and facing mandatory withdrawal rules? Just inherited money from a retirement plan? Whether you have an IRA, Roth IRA, 401(k), Keogh or other retirement plan, this book will help you make sense of the rules for taking your money out. Even more important,
Save your nest egg from the IRS
About to retire? Over 70 and facing mandatory withdrawal rules? Just inherited money from a retirement plan?
Whether you have an IRA, Roth IRA, 401(k), Keogh or other retirement plan, this book will help you make sense of the rules for taking your money out. Even more important, it will show you how to avoid the stiff taxes and penalties that lurk in the fine print. It covers:
tax strategies before and after retirement required distributions and how much you need to take penalties for taking money out early and how to avoid them how to divide a plan at divorce what happens to your retirement plan after your death, and different rules for taking money out of an inherited plan
The 14th edition is completely updated with the latest tables and methods for calculating required minimum distributions. It also covers the special tax benefits for conversions to Roth IRAs and explains how to recharacterize IRA or Roth contributions.
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Strategies focused on taxation, not about asset managemnt I learned one very important thing from the book: you cannot contribute to a Roth IRA after you stop being gainfully employed. The book clarifies the difference between the various types of retirement plans and how your assets in those plans are taxed as you contribute to and withdraw from them. Within are stiff warnings on how severe tax penalties can be when you don’t follow the IRS guidelines Each chapter begins with a bit of an abstract that lets you know if you really need to read the…
Excellent resource This is a must-have book for every tax practitioner’s library. It is well organized, well written, very readable. Excellent reference book and even enjoyable to read if you read it cover to cover, as I did the first time I bought it (version from about 2004). Written clearly enough for the lay person to understand.
Very Handy Very well written and consice. I woud not call it an exhaustive reference by an means but it is very helpful to have around for a quick refresher on the more obscure aspects of IRA/qualified plan distributions.