Category - IRAs

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Tax Refunds Going to IRAs May Cause Snafus
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What to Watch Out For With IRA’s

Tax Refunds Going to IRAs May Cause Snafus

Taxpayers who previously set up their tax refunds to be deposited directly to their IRAs this year will need to be vigilant: Economic Stimulus rebate checks will also be automatically deposited into any IRAs whose owners have set them up to receive tax refunds.

Normally, arranging for your tax refund to go into your IRA directly is a great idea – it protects you from the temptation to spend the refund.  Since most of us practice “mental accounting,” a tax refund that goes directly into our IRA won’t give us the feeling that we’re giving something up to save for …

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What to Watch Out For With IRA’s

IRA TricksIt’s not difficult to make a mistake with an IRA.  Although there are a few circumstances in which the IRS will make allowances for errors that were beyond your control, generally the rules around IRAs are pretty strict.  It’s best to be sure that you know what you’re doing; certain IRA-related errors can be a headache to fix (if they can be fixed at all).

Blunder Number One – Not Keeping Your Beneficiaries Current

Have you had a change of marital status?  Has your family grown in the last few years?  Have your financial circumstances changed significantly since the last …

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