by Admin | Mar 17, 2022 | Individual Taxes, Retirement
Your 401(k), IRA or other retirement accounts may be a tempting source for cash if you find yourself short of funds or have a major purchase you are considering. But withdrawing money from a traditional IRA or qualified retirement account before you reach age 59½ may...
by Admin | Oct 8, 2021 | Individual Taxes, Retirement
Individuals are required to begin taking distributions from their IRA when they reach a certain age. That age was 70½ until Congress passed the SECURE Act in late 2019 which made significant changes to the retirement plan provisions of the tax code, one of which was...
by Admin | Sep 28, 2021 | Individual Taxes, Retirement
Whether your Social Security benefits are taxable (and, if so, the amount that is taxed) depends on a number of issues. The following facts will help you understand the taxability of your Social Security benefits. For this discussion, the term “Social Security...
by Admin | Dec 23, 2020 | Retirement
Some folks have been tapping or suspending their retirement savings to make ends meet during this COVID-19 pandemic, and although understandable, it is important that they continue saving for retirement as quickly as financially possible. Still other people have...
by Admin | May 17, 2019 | Retirement
You can begin receiving your Social Security retirement benefit as early as age 62. But by putting off your benefit start date, you can receive a check that is 8% higher for each year you delay receiving your benefit. The Basics – Full retirement age. ...
