Prepared by Broadridge Investor Communication Solutions, Inc. Copyright 2019 Roth IRA Conversions With the lure of tax-free distributions, Roth IRAs are popular retirement savings vehicles. One way to fund a Roth IRA is to convert some or all of your IRA or retirement plan money to a Roth … [Read more...]
Windward Tax Bulletin: Converting IRAs to Roth IRAs
Windward Tax Bulletin: Required Minimum Distributions
What are required minimum distributions (RMDs)? Required minimum distributions, often referred to as RMDs or minimum required distributions, are amounts that the federal government requires you to withdraw annually from traditional IRAs and employer-sponsored retirement plans after you reach age … [Read more...]
Windward Tax Bulletin: Navigating IRA Early Distribution Rules
Distributions from Traditional IRAs: Prior to Age 59½ In general A withdrawal from an IRA is generally referred to as a distribution. If you receive a distribution from your traditional IRA before you reach the age of 59½, the federal government considers this a premature distribution. Like … [Read more...]
Windward Passages: Charitable Contributions from IRAs
The Pension Protection Act of 2006 first allowed taxpayers age 70½ and older to make tax-free charitable donations directly from their IRAs. By making a qualified charitable distribution (QCD) from an IRA directly to a qualified charitable organization, older IRA owners were allowed to exclude up to … [Read more...]
Windward Tax Bulletin: The Roth 401(k)
Employers can offer 401(k) plan participants the opportunity to make Roth 401(k) contributions. If you're lucky enough to work for an employer who offers this option, Roth contributions could play an important role in maximizing your retirement income. What is a Roth 401(k)? A Roth 401(k) is … [Read more...]