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8 Ways to Withdraw From Your IRA Before Age 59½ Without Penalty

Posted in Tax News on June 9, 2011

Traditional IRAs were designed to provide an opportunity for people to save for retirement on a pre-tax, tax-deferred basis.  In other words, the money grows without having to pay any taxes currently on the gains.

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The Importance of Beneficiary Designations

Posted in Tax News on April 28, 2011

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…

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Haven't Filed Your 2010 Tax Return Yet? File an Extension!

Posted in Tax News on April 6, 2011

It’s that time of year again….time to file your income tax return. What if you can’t get it done or don’t have all of your material to prepare it? File for an extension. To file an extension, complete Form 4868,…

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5 Reasons Everyone Should Contribute to an IRA

Posted in Tax News on February 11, 2011

  Here are the five reasons everyone should contribute to an IRA. 1) Income Tax Deduction.  Many taxpayers who contribute to an IRA will get a tax deduction.  Some taxpayers with higher incomes that participate in a retirement plan at…

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The Difference Between an IRA and a Roth IRA

Posted in Tax News on February 4, 2011

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. 

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