Anyone can convert their traditional IRA to a Roth IRA. However, Roth IRA contributions come with limitations. For 2015, IRA contributions are limited to $5,500 ($6,500 if age 50 or older). For Roth IRA contributions, there is an additional phase out limitation for those who are high income earners. The following chart illustrates the Roth […]
Posts by Category: Retirement
Need to Know Deadlines for IRA Beneficiaries
September 30th Deadline for identifying designated IRA beneficiaries October 31st Deadline for providing all required documentation for a trust to the IRA custodian December 31st RMDs (Required Minimum Distributions) – this deadline applies beginning with the year after the IRA owner dies Separate Account Rule – in the year after the IRA owner dies, beneficiaries […]