Every year, the IRS makes cost-of-living adjustments that affect contribution limits for retirement plans and set thresholds for tax deductions, exclusions, and exemptions. Here are the key adjustments for 2019: Employer retirement plans Employees in 401(k), 403(b), and most 457 plans can defer up to $19,000 of their compensation in 2019 (up from $18,500 in 2018). Those age 50 and older can … [Read more...]
Inherited IRAs: 5 Things to Know
September 2, 2017 by
If you find yourself the beneficiary of a traditional or Roth IRA, it’s important to understand the rules that apply to these inherited IRAs. When the owner of an IRA dies, the account becomes the property of the beneficiary – or to the owner’s estate if no beneficiary was named. The inherited IRA is not really yours While you keep many of the IRA benefits, you are generally not considered the … [Read more...]
