Retirement & IRA Tax Guide

Learn about contribution limits ($7,000 or $8,000 if age 50+), deductibility rules, income phaseouts, and spousal IRAs. Understand when you're covered by an employer retirement plan and how it affects your deduction.

Explore Roth IRA basics including contribution limits, income phaseouts, qualified distributions, and the 5-year rule. Discover the benefits of tax-free growth and no required minimum distributions during your lifetime.

Understand the differences between Traditional, Roth, SEP, and SIMPLE IRAs. Learn what transactions are prohibited and could result in severe tax penalties.

Calculate your RMDs starting at age 73, understand the uniform lifetime table, and avoid costly penalties for missed distributions. Includes examples and planning strategies.

Discover how Substantially Equal Periodic Payments (SEPP) can help you access retirement funds before age 59½ without the 10% early withdrawal penalty. Learn the three calculation methods and compliance requirements.

Explore when and how to convert Traditional IRA funds to a Roth IRA. Understand tax implications, backdoor Roth strategies, and recharacterization rules.

Learn how taxpayers age 70½ and older can donate up to $108,000 annually from their IRA directly to charity, satisfy RMD requirements, and exclude the distribution from taxable income.

Understand the rules for inherited IRAs including the 10-year rule for most beneficiaries, eligible designated beneficiary exceptions, and required minimum distribution requirements for beneficiaries.

Comprehensive overview of how different retirement income sources are taxed, including pensions, Social Security, annuities, and retirement account distributions.

Planning considerations for pension distributions, lump sum vs. annuity decisions, and tax-efficient withdrawal strategies.

Build a comprehensive retirement savings plan incorporating IRAs, employer plans, HSAs, and other tax-advantaged vehicles.