Entries filed under 'Rollover IRA'

    IRAs and 401(k)s: Rollover Help from the IRS

    September 1, 2016 12:45 PM by Brian Dobbis

    The IRS has announced a new and expedited process that offers relief to taxpayers who have missed the 60-day deadline for rolling over distributions from employer-sponsored plans and IRAs. 

    THE ROAD TO RETIREMENT with BRIAN DOBBIS

    Withdrawals from an employer sponsored plan, such as a 401(k) or an IRA, have typically been subject to income taxes and or penalties if the proceeds are paid directly to the investor. However, the investor traditionally has had 60-days to plow the distributed amount back into an IRA and or workplace retirement plan without being subject to taxes or penalties—until now.  

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    Tips on IRA Rollovers

    June 17, 2016 4:30 PM by Brian Dobbis

    Confused about treatment of both pretax and aftertax dollars in a qualified plan? Here’s some updated guidance from the IRS.

    THE ROAD TO RETIREMENT with BRIAN DOBBIS

    In case you missed it (many investors have), the IRS offers much-needed guidance on the allocation of aftertax dollars to IRA rollovers. While the administrative language might seem unclear at first, it at least provides a roadmap for splitting a 401(k) distribution that consists of both pretax and aftertax dollars.  

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    How to Avoid IRA Rollover Headaches

    June 9, 2016 2:45 PM by Brian Dobbis

    Keeping abreast of the “60-day” rule and various nuances can protect your nest egg. 

    THE ROAD TO RETIREMENT with BRIAN DOBBIS 

    After a day of presentations, I recently received a spate of questions regarding the tricky “60-day rule” on IRA rollovers and its many nuances. So let’s revisit the latest regulations, effective January 1, 2015, which are a game-changer.

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    Back by Popular Demand: Our Top Rollover Tips

    September 17, 2015 12:30 PM by Brian Dobbis

    A recent webinar indicated that advisors are eager for information on how to grab a piece of the $7 trillion IRA market.

    THE ROAD TO RETIREMENT with BRIAN DOBBIS 

    A record number of advisors tuned in to my webinar on IRA rollovers, on September 15, to learn how to find IRA prospects and convert them to clients.

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    How to Account for Aftertax 401(k) Contributions in a Rollover IRA

    June 25, 2015 2:35 PM by Brian Dobbis

    IRS Notice 2014-54 answered a question investors and advisors had been asking for years.

    THE ROAD TO RETIREMENT with BRIAN DOBBIS

    In September 2014, the IRS issued guidance, IRS Notice 2014-54, on a matter that had baffled advisors and clients alike: how to allocate aftertax qualified-plan assets to rollovers. The main question was: Can aftertax (nondeductible) money in a 401(k) be rolled over (converted) to a Roth IRA tax-free?

    Yes, says the IRS.

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    A Single Form That Can Make a Big Difference

    June 18, 2015 4:40 PM by Brian Dobbis

    IRS Form 8606 may be the single most important document for owners of IRAs that contain aftertax dollars, and it could save them from being taxed twice on their retirement savings.

    THE ROAD TO RETIREMENT with BRIAN DOBBIS 

    In my estimation, IRS Form 8606, Nondeductible IRAs should be required reading for all financial advisors and their clients. Why? Because it is the most important—and frequently overlooked—document governing the taxation of traditional IRAs. Ignorance of this form and its purpose could result in individuals overpaying taxes on their retirement savings. 

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    IRAs: When Consolidating Makes Sense

    May 15, 2015 11:00 AM by Brian Dobbis

    By combining multiple savings accounts, investors may get a clearer picture of where they are on the road to retirement. 

    THE ROAD TO RETIREMENT with BRIAN DOBBIS 

    Given that the average American may hold more than eight jobs over the course of his or her career, it’s more than likely that some of your clients have accumulated multiple retirement accounts, including IRAs, and employer-sponsored accounts, such as 401(k) or 403(b) plans. 

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    What Happens to Employees' Retirement Funds When They Leave?

    April 23, 2015 4:45 PM by Brian Dobbis

    Workers with employer-sponsored retirement plans have decisions to make about their assets when they leave their jobs. One option—rolling them over into an IRA—offers potentially attractive benefits.

    THE ROAD TO RETIREMENT with BRIAN DOBBIS

    Typically, when workers leave their job, whether by choice or otherwise, they pack up their desks in the ubiquitous cardboard box, making sure not to leave any personal effects behind. But in the flurry of departure, they may forget their most valuable personal asset—one that cannot fit in a box—their retirement fund

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    New IRA Rollover Rule is a Game Changer

    February 5, 2015 5:15 PM by Brian Dobbis

    Be careful not to step out of bounds.

    THE ROAD TO RETIREMENT with BRIAN DOBBIS 

    The new year ushered in a new rule for IRA rollovers that effectively restricts account owners’ access to their IRA funds. It behooves advisors and their clients to know enough about the rule to avoid committing an unintentional foul, which could result in painful penalties.

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    IRS Finally Issues Much-Anticipated IRA Rollover Guidance

    November 6, 2014 12:31 PM by Brian Dobbis

    Confused about treatment of both pretax and after-tax dollars in a qualified plan? Taxpayers just received an early holiday gift from none other than the IRS.

    THE ROAD TO RETIREMENT with BRIAN DOBBIS 

    The IRS has issued much-needed guidance on the allocation of after-tax dollars to IRA rollovers in the form of Notice 2014-54, “Guidance on Allocation of After-Tax Amounts to Rollovers.” The ruling provides at least a roadmap for splitting a 401(k) distribution that consists of both pretax and after-tax dollars.  

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