Overview

Save your nest egg from the IRS About to retire? Over 73 and facing mandatory withdrawal rules? Just inherited money from a retirement plan? Whether you have an IRA, Roth IRA, 401(k), Keogh or other retirement plan, this book will help you make sense of the rules for taking your money out. Even more important, it will show you how to avoid the stiff taxes and penalties that lurk in the fine print. It covers: tax strategies before and after retirement required distributions and how much you need to take penalties for taking money out early and how to avoid them what happens to your retirement plan after your death different rules for taking money out of an inherited plan, and how to divide a plan at divorce. In easy-to-understand plain English, the book is filled with examples and sample forms, as well as lists of relevant tax code sections. The 17th edition covers all of the latest changes, including: the new start age for required distributions, and big changes to the distribution rules for inherited retirement plans and IRAs. Learn how to take cash out of your retirement plan while avoiding taxes and penalties!

Full Product Details

9781413333275

Table of Contents

Reviews

""Depending on the size of the IRA and the age of the beneficiary, it might be smarter to pay the penalty than to liquidate the account simply to avoid the penalty,"" says Twila Slesnick, author of IRAs, 401(k)s & Other Retirement Plans. Kiplinger's Retirement Report ""A more impressively clear and comprehensive layman's guide is IRAs, 401(k)s & Other Retirement Plans..."" U.S. News & World Report ""Few resources are as valuable when it comes to financial planning in later life."" The Wall Street Journal ""This book belongs on the bookshelf of anyone with a retirement plan. Here's where you'll find the answers."" Kiplinger's Personal Finance ""Uses everyday language to describe Internal Revenue Service rules for making withdrawals from retirement plans."" The Wall Street Journal

Author Information

Twila Slesnick is an Enrolled Agent who specializes in tax and investment planning for retirees and prospective retirees, and does pension plan consulting for individuals and small businesses. She has conducted numerous seminars throughout the U.S. in the areas of retirement and tax planning. Slesnick has been featured on television and radio programs across the country and in publications including Money Magazine, U.S. News & World Report, Newsweek and Consumer Reports. She is the author (with John Suttle) of IRAs, 401(k)s and Other Retirement Plans: Taking Your Money Out. Slesnick has a bachelor's, master's and Ph.D., all from the University of California, Berkeley. Tracy A. Shea Tracy's goal as a certified financial planner is to help clients to and through retirement. Tracy helps clients identify their pre- and post-retirement needs, helps families with estate reviews, assists business owners with business succession strategies, and provides financial guidance for divorce and estate settlement. Tracy assists clients across the United States. In addition to being licensed as a Certified Financial Planner(R) Certificant, Tracy is also a Chartered Life Underwriter(R), a Chartered Financial Consultant(R), and a Certified Financial Divorce Analyst(R). She also has her FINRA Series 7 & 66 licenses and her Life, Health, and Variable Annuity License.

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