IRA Archives - Page 3 of 4 - FREE Yourself from IRS Problems

Shamsey Oloko June 10, 2016 IRA, Roth IRA, Roth Thrift Savings Plan, Taxable Income 0

Losing IRA Status Under IRC § 408(e)(2)

Owners of Self-Directed IRAs which engage in certain types of “prohibited transactions” or invest in life insurance, foreign investments or collectibles may risk losing the tax-deferred status of their IRA accounts. If the owner (or beneficiary) of an individual retirement…

Shamsey Oloko May 23, 2016 IRA, Roth IRA, Taxable Income 0

Converting Your IRA To A Roth IRA

In 1997, the Roth IRA was introduced. Since then, many people have converted all or a portion of their existing traditional IRAs to a Roth IRAs, where interest earned may be completely tax-free. This benefit applies as, once a taxpayer…

Shamsey Oloko May 19, 2016 Income, IRA, Roth IRA, Taxable Income 0

Taking A Short-Term Loan From Your IRA

When strapped for cash, IRA owners have traditionally been able to take a short-term loan from their IRA, although this has been limited in recent years. Taxpayers may withdraw money from an IRA, without penalty or any tax liability, for…