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Beginning in 2015, individuals are only allowed to do one 60-day rollover in a year. A 60-day rollover is when a distribution is issued payable to the account owner. They can cash the check or they can spend funds that were deposited into a bank or other type of account. In this article, we asses 5 exceptions to the one-per-year 60-day IRA rollover rule and provide three examples.
Rollover exceptions you might not be aware of
Taking your correct required minimum distribution (RMD) ... it sounds so easy; you just divide the balance of your IRA at the end of last year by your IRS-provided life expectancy factor. What could possibly go wrong? The answer: a lot, an awful lot. Read on for seven RMD mistakes you should avoid at all costs.
Sometimes easy isn’t as easy as you think....get help if there’s any confusion at all or it can cost you!
Did you ever wonder if there is actually tax savings when you contribute to an IRA, 401k or another pretax investment?
