How much tax you owe on an individual retirement account (IRA) withdrawal depends on your age, the type of IRA, and other ...

Withdrawing money from your IRA prior to age 75 won’t count toward your RMDs because you’re not required to make withdrawals until age 73 or 75 (depending on your birth year). Are you ahead, or behind ...

There are plenty of ways to minimize your tax liability and that’s especially true when you have worked hard to sock away retirement money. Tax advisors are constantly searching for new ways to avoid ...

Here’s a way for saving, potentially, thousands in taxes on IRAs, including on those that you inherit: To get started, learn all about the IRS Form 8606. This article lays out the purpose of the Form ...

IRAs are tax-advantaged accounts that the government has strict rules for. Withdrawals made before age 59 1/2 typically have a 10% early withdrawal penalty. Explore all the possible strategies you can ...

An individual retirement account is an excellent way to save for retirement. Many employers allow you to invest pre-tax money in your IRA right from your paycheck, so it’s easy and convenient. However ...

IRA withdrawals taken before age 59 1/2 typically incur a 10% penalty. There are some exceptions to that rule, like buying a first-time home. Though it might seem like an easy way to scrounge up a ...

If you withdraw funds from your SIMPLE IRA before reaching the age of 59 1/2, you will incur an extra tax of 10 percent on the taxable amount unless you meet the criteria for an exemption. In certain ...