How to Establish a Rollover 401k IRA

If you have a 401k, you probably started participating in the plan when you started a new job.  The 401k is an employer sponsored plan and, therefore, has a special place in your overall retirement plans, as many employers offer matching funds and other perks to encourage employee participation. However, a 401k isn’t always the best long-term home for your money.  Knowing how to begin 401k rollovers to and from this kind of plan will save you money and help keep your investments in that all important tax deferred status. Continue reading

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