What is a required minimum distribution*, or “RMD,” you ask? An RMD is the minimum amount that must be withdrawn from an IRA or other retirement account each year. Failure to withdraw the required minimum amount by the annual deadline will cause you to incur a hefty penalty equal to 50% of the amount that […]
https://www.thomasdelpup.com/wp-content/uploads/2014/11/photodune-7029553-ira-word-cloud-concept-angled-s.jpg775775Tom DelPuphttps://www.thomasdelpup.com/wp-content/uploads/2014/08/thomasjdelpup-lg-v3.pngTom DelPup2015-03-30 20:24:362018-11-01 20:57:18How to Take an IRA Required Minimum Distribution in 5 Steps
A client called me the other day and asked about canceling the purchase of an automobile. They thought they had 3 days to cancel the purchase. Unless the salesman came to their home and wrote the sale there, I told them, they had no right to cancel. In general, when you buy something at a […]
https://www.thomasdelpup.com/wp-content/uploads/2015/03/photodune-4013616-car-sales-man-s.jpg632948Tom DelPuphttps://www.thomasdelpup.com/wp-content/uploads/2014/08/thomasjdelpup-lg-v3.pngTom DelPup2015-03-24 16:32:532017-07-05 22:09:12I Bought a Car Yesterday, Can I Cancel the Sale Today?
So, you’re thinking about putting an estate plan together (good for you!), but not sure if the timing is right, what to do, or what you need. To help you get going, here is my quick and easy estate planning guide. Don’t worry, nothing complicated here, just basic information. Is the time right? Well, estate […]
5 (of many) things you cannot do with your IRA – ever: 1. Transfer an IRA to a spouse. Unless incident to a divorce judgment, you may not transfer an IRA to your spouse. Doing so creates a taxable distribution. (Oh, and you can’t transfer it to anyone else either.) 2. Retitle your IRA to […]
What you don’t know can hurt you. And this truism is never more apt than when it comes to the rules governing retirement accounts. Several rule changes took effect recently that will have a significant impact on traditional and Roth IRAs, and employer sponsored retirement plan accounts. Individuals who own these types of accounts must […]
https://www.thomasdelpup.com/wp-content/uploads/2015/01/photodune-5349477-retirement-planning-s.jpg632948Tom DelPuphttps://www.thomasdelpup.com/wp-content/uploads/2014/08/thomasjdelpup-lg-v3.pngTom DelPup2015-01-19 17:10:272018-11-01 20:57:184 Key Rule Changes Affecting Retirement Accounts You Need to Know.
How to Take an IRA Required Minimum Distribution in 5 Steps
/in IRAs, Retirement Planning, Tax PlanningWhat is a required minimum distribution*, or “RMD,” you ask? An RMD is the minimum amount that must be withdrawn from an IRA or other retirement account each year. Failure to withdraw the required minimum amount by the annual deadline will cause you to incur a hefty penalty equal to 50% of the amount that […]
I Bought a Car Yesterday, Can I Cancel the Sale Today?
/in Asset Protection, Consumer Protection, UncategorizedA client called me the other day and asked about canceling the purchase of an automobile. They thought they had 3 days to cancel the purchase. Unless the salesman came to their home and wrote the sale there, I told them, they had no right to cancel. In general, when you buy something at a […]
A Quick & Easy Guide to Basic Estate Planning
/in Asset Protection, Estate Planning, Power of Attorney, Wills & TrustsSo, you’re thinking about putting an estate plan together (good for you!), but not sure if the timing is right, what to do, or what you need. To help you get going, here is my quick and easy estate planning guide. Don’t worry, nothing complicated here, just basic information. Is the time right? Well, estate […]
You Can’t Do That! 5 Prohibited IRA Transactions.
/in Estate Planning, IRAs, Retirement Planning, Tax Planning, Uncategorized5 (of many) things you cannot do with your IRA – ever: 1. Transfer an IRA to a spouse. Unless incident to a divorce judgment, you may not transfer an IRA to your spouse. Doing so creates a taxable distribution. (Oh, and you can’t transfer it to anyone else either.) 2. Retitle your IRA to […]
4 Key Rule Changes Affecting Retirement Accounts You Need to Know.
/in Asset Protection, Bankruptcy, IRAs, Retirement Planning, Tax PlanningWhat you don’t know can hurt you. And this truism is never more apt than when it comes to the rules governing retirement accounts. Several rule changes took effect recently that will have a significant impact on traditional and Roth IRAs, and employer sponsored retirement plan accounts. Individuals who own these types of accounts must […]