Synopses & Reviews
Don't give your nest egg away to the IRS Perhaps your retirement is on the horizon, or you're changing jobs, or are about to turn 70.5 years old... Whatever is going on with your retirement account, IRAs, 401(K)s & Other Retirement Plans is for you Make sense of the rules that govern distributions from retirement plans -- and avoid the stiff taxes and penalties that lurk in the fine print. In plain English, this book discusses all common types of retirement plans, including 401(k)s and other profit-sharing plans, Keoghs, IRAs and tax-deferred annuities. It covers tax strategies before and at retirement, penalties for taking money out early, minimizing taxes, distributions you must take and distributions to your heirs. The 8th edition is completely updated with the latest tax rates, tables and methods for calculating required distributions. It also reflects the Pension Protection Act of 2006; a huge update to various retirement programs. With IRAs, 401(K)s & Other Retirement Plans as your guide, you'll know the rules, avoid the penalties and save for your future like a pro.
Synopsis
Distributions from Retirement Plans are like the pot of gold at the end of the career rainbow. Distribution rules, on the other hand, are the potholes along the way.
Unfortunately, anyone who wants to take money out of an IRA or retirement plan has to maneuver through these rules, taking care to avoid potential penalties: penalties for early distributions, penalties for late distributions, or penalties for improper distributions to a beneficiary or former spouse.
IRAs, 401(k)s and Other Retirement Plans offers an abundance of clear, smart ways to navigate these tricky rules and avoid penalties. Written by two experts in tax and investment planning, the book presents the different types of retirement plans that are affected by distribution rules. It covers the tax options available to individuals when they either change employers or retire and have to take all of their money out of the employer's qualified plan. The book also examines IRAs and the new Roth IRAs: how to take distributions from them, designate beneficiaries and avoid even more potential penalties.
IRAs, 401(k)s and Other Retirement Plans is perfect for anyone who has been covered by an employer retirement plan, anyone who has maintained an IRA, stockbrokers, investment advisors, bankers, lawyers and accountants. The only book of its kind for lay readers and professionals, IRAs puts everyone squarely on the path to their pot of gold.