4 Layers of Nonqualified Roth IRA Withdrawals

Nonqualified Roth IRA withdrawals can occur for two reasons: The account owner isn't yet 59½ and isn't dead or disabled, or The account owner fails the five-year test. If you made several conversion contributions, you must use the first-in-first-out (FIFO) […]

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Taxes on Roth IRA Withdrawals Today

If you're experiencing financial distress during the COVID-19 crisis, you might be thinking about tapping into your Roth IRA to improve your cash situation. But before withdrawing money from a Roth account, it's important to understand the federal income tax […]

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Estate Planning Pitfalls to Avoid

Despite having good intentions, many people fail to make an estate plan. But if you don't develop a plan featuring a will, your assets could end up being distributed according to state law. And the lack of an estate plan […]

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Federal Tax News

How did the federal government do in sending out Economic Impact Payments (EIPs)? Two reports detail the results. EIPs were sent to eligible individuals to help mitigate the financial effects of the pandemic. Sending the payments to some people has […]

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