Rollover 401k IRA Rules – Protect Yourself from Tax Penalties

If you’re performing a 401k rollover, you’ll want to protect yourself from any and all possible 401k rollover taxes. The big things to keep in mind about maintaining the tax deferred status of your investment are what kind of IRA your money is rolling into and how you should perform the rollover. Keep these two things in mind and you’ll protect yourself from a whole host of potential problems. Continue reading

How Should You Take Your Rollover 401k IRA Distribution?

The question, “How should you take your rollover 401k IRA distribution?” has the potential to cause confusion, not to mention tax problems. That’s because, in the eyes of the IRS, a 401k rollover and a distribution are two different types of transactions. And when you’re dealing with the IRS, it’s important to be precise with your terminology. Continue reading

Should You Consider a Rollover 401k IRA?

A rollover 401k IRA is a specific type of IRA, or Individual Retirement Account.  These accounts are created specifically for employees who want to rollover a 401k into an IRA and come in two different types – traditional and Roth IRAs.  In general, these accounts are easy to set up – most financial institutions offer them and they typically require very limited paperwork to establish. Continue reading