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Must have for financial and tax professionals:IRA...

Must have for financial and tax professionals:...

Calculators, forums, articles and more on 72(t) and 72(q) /SEPP Plans. Includes RMD Calculators...

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  • I worked for only one month last year and then retired. I made a contribution to my traditional IRA for last year. However, I understand that I might not be eligible to claim a deduction for the contribution that I made to my IRA because I received contributions under my employer’s retirement plan. Is that correct? 

  • I am 75 years old and still working. I make enough to cover my living and other expenses, and do not need (or want) to make withdrawals from my 401(k) accounts and pension savings, all of which are held with former employers.  I was told that I could put off starting my required minimum distributions for all of these accounts until I retire. Is that true?