A Roth Conversion is when funds are taken out of an IRA and converted into a Roth IRA. This conversion results in taxable income. Here are 4 Reasons to do a Roth Conversion:

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When was the last time you checked your beneficiary designations for your retirement accounts that were established years ago?  Beneficiaries are the individuals or entities (such as a charity) that you name to receive these assets upon your death.  You may find that your designated beneficiary is not who or what you think it should be, especially if you have divorced, remarried or had children since your retirement plan account was established. more…

Times are hard for so many people right now, whether you have lost your job, had to borrow from your retirement account or have forgiveness of debt. There are many reasons that could trigger a higher than expected tax bill this year.  If you are one of those individuals who owe a substantial amount of taxes to the Internal Revenue Service ("IRS") there are some options available to you.  more…

Deciding whether to open an IRA or  a Roth IRA is a major decision with potentially large financial consequences. Both forms of the IRA are great ways to save for retirement, although each offers different advantages and rules.  more…

Employers that maintain a qualified retirement plan must file IRS Form 5500–Annual Return/ Report of Employee Benefit Plan.  Qualified retirement plans include defined benefit, profit-sharing, money purchase, and 401(k) plans.  SIMPLE and SEP plans do not have to file this form.  Form 5500 is due on the last day of the seventh month following the end of the year.  For example, a December year-end would be due on July 31.

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