About this trail:
News, Views and Advise for IRA
Trail link: http://www.trailfire.com/Just4fun/trails/30988
Summary: http://www.trailfire.com/Just4fun/trailview/30988
Summary: http://www.trailfire.com/Just4fun/trailview/30988
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This site gives Financial Advice for people in their 50s and 60s by which time the children have left the home and would be supporting themselves. At this juncture retirees would probably at the highest income level of their careers, and can really focus now on building their retirement assets.
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This site gives views on whether a person should take a lump sum paymen on retirement or settle for an annuity. Retiring was easy when most workers were covered by traditional pensions but as more companies have shifted to 401(k) plans and portable pensions called cash-balance plans, retiring workers face some difficult choices.
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On August 17, the President signed the Pension Protection Act of 2006. The new law contains numerous changes to the tax law provisions affecting tax-exempt organizations. Certain provisions of the Pension Protection Act of 2006 result in new reporting requirements for Forms 990, 990-EZ, 990-PF, 990-T and 4720. The 2005 forms and instructions will not be changed to reflect these reporting requirements.
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New Law Expands IRA Options for Military. Members of the military serving in Iraq, Afghanistan and other combat zone localities can now put money into an individual retirement account, even if they received tax-free combat pay, according to the Internal Revenue Service. Under the Heroes Earned Retirement Opportunities (HERO) Act, taxpayers can now count tax-free combat pay when determining whether they qualify to contribute to either a Roth or traditional IRA.
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Find latest news and deadlines on filing income tax returns and contributions to IRA and Roth Ira. This site will tell you about Roth IRA's.
