Offering clear guidance on IRAs, 401(k)s and inherited plans, this practical resource explains tax strategies, withdrawal rules, required distributions and penalties, helping anyone retiring, changing jobs or inheriting funds make smart choices and avoid costly mistakes. Original.
Save your nest egg from the IRS
About to retire? Over 73 and facing mandatory withdrawal rules? Just inherited money from a retirement plan?
Whether you have an IRA, Roth IRA, 401(k), Keogh or other retirement plan, this book will help you make sense of the rules for taking your money out. Even more important, it will show you how to avoid the stiff taxes and penalties that lurk in the fine print. It covers:
- tax strategies before and after retirement
- required distributions and how much you need to take
- penalties for taking money out early and how to avoid them
- what happens to your retirement plan after your death
- different rules for taking money out of an inherited plan, and
- how to divide a plan at divorce.
In easy-to-understand plain English, the book is filled with examples and sample forms, as well as lists of relevant tax code sections. The 17th edition covers all of the latest changes, including:
- the new start age for required distributions, and
- big changes to the distribution rules for inherited retirement plans and IRAs.
Learn how to take cash out of your retirement plan while avoiding taxes and penalties!
When you want or need to take money out of a retirement planwhether youve inherited the plan or youre retiring, buying a house, or just in need of moneythis book will help you make the best financial choices. Anyone who is approaching retirement, retiring early, changing jobs, or wondering what to do with an inherited plan will benefit from the advice in this book. Includes new rules from SECURE Act.
