Comprehensive guides on Traditional IRAs, Roth IRAs, required minimum distributions, conversions, beneficiary rules, and retirement planning strategies
Navigate the complex world of retirement accounts with confidence. Our comprehensive guides cover Traditional IRAs, Roth IRAs, required minimum distributions, conversion strategies, beneficiary rules, and more.
Contribution limits, deductibility rules, income phaseouts, and spousal IRAs. Understand when you're covered by an employer retirement plan and how it affects your deduction.
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.
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.
Substantially Equal Periodic Payments (SEPP) to access retirement funds before age 59½ without the 10% early withdrawal penalty. The three calculation methods and compliance requirements.
When and how to convert Traditional IRA funds to a Roth IRA. Tax implications, backdoor Roth strategies, and recharacterization rules.
Taxpayers age 70½ and older can donate directly from their IRA to charity, satisfy RMD requirements, and exclude the distribution from taxable income.
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.
These guides reflect 2025 rules and limits. Refer to the 2026 versions above for current information.
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.
State-Specific Considerations: Some states treat IRA distributions differently than federal tax law. Consult with a tax professional about your state’s specific rules.
Retirement planning is complex and varies based on your unique situation. Schedule a consultation with John C Thompson, EA for personalized strategies.