IRAS, 401(k)s, & other retirement plans : Strategies for taking your money out

Don't give your nest egg away to the IRS! Perhaps your retirement is on the horizon, or you're changing jobs, or are about to turn 70.5 years old... Whatever is going on with your retirement account, IRAs, 401(K)s & Other Retirement Plans is for you! Make sense of the rules that govern distributions from retirement plans -- and avoid the stiff taxes and penalties that lurk in the fine print. In plain English, this book discusses all common types of retirement plans, including 401(k)s and other profit-sharing plans, Keoghs, IRAs and tax-deferred annuities. It covers tax strategies before and at retirement, penalties for taking money out early, minimizing taxes, distributions you must take and distributions to your heirs. The 8th edition is completely updated with the latest tax rates, tables and methods for calculating required distributions. It also reflects the Pension Protection Act of 2006; a huge update to various retirement programs. With IRAs, 401(K)s & Other Retirement Plans as your guide, you'll know the rules, avoid the penalties and save for your future like a pro. Table of Contents......Page 9 Introduction: How to Use This Book......Page 13 1. Types of Retirement Plans......Page 15 Qualified Plans......Page 18 Individual Retirement Accounts......Page 24 Almost-Qualified Plans......Page 27 Nonqualified Plans......Page 28 2. An Overview of Tax Rules......Page 31 Taxation Fundamentals......Page 33 General Income Tax Rules for Retirement Plans......Page 38 Income Tax on Qualified Plans and Qualified Annuities......Page 42 Special Income Tax Rules for Tax-Deferred Annuities......Page 61 Special Income Tax Rules for IRAs......Page 62 3. Early Distributions: Taking Your Money Out Before the Law Allows......Page 69 Exceptions to the Early Distribution Tax......Page 70 Calculating the Tax......Page 76 Reporting the Tax......Page 77 Special Rules for IRAs......Page 83 4. Substantially Equal Periodic Payments......Page 89 Computing Periodic Payments......Page 92 Implementing and Reporting Your Decision......Page 100 Modifying the Payments......Page 102 5. Required Distributions: Taking Money Out When You Have To......Page 107 Required Distributions During Your Lifetime......Page 109 Death Before Required Beginning Date......Page 110 Special Rules for Tax-Deferred Annuities......Page 111 Penalty......Page 113 Reporting the Penalty......Page 117 Waiver......Page 119 6. Required Distributions During Your Lifetime......Page 121 Required Beginning Date......Page 123 Computing the Required Amount......Page 126 Designating a Beneficiary......Page 130 Special Rules for Annuities......Page 133 Divorce or Separation......Page 137 7. Distributions to Your Beneficiary If You Die Before Age 701⁄2......Page 141 Determining the Designated Beneficiary......Page 143 Distribution Methods......Page 145 Spouse Beneficiary......Page 148 Nonspouse Beneficiary......Page 154 No Designated Beneficiary......Page 156 Multiple Beneficiaries, Separate Accounts......Page 157 Multiple Beneficiaries, One Account......Page 158 Trust Beneficiary......Page 163 Estate as Beneficiary......Page 166 Annuities......Page 167 Divorce or Separation......Page 168 Reporting Distributions From IRAs......Page 169 8. Distributions to Your Beneficiary If You Die After Age 701⁄2......Page 171 Administrative Details......Page 173 Spouse Beneficiary......Page 175 Nonspouse Beneficiary......Page 181 Multiple Beneficiaries, Separate Accounts......Page 183 Multiple Beneficiaries, One Account......Page 184 Trust Beneficiary......Page 187 Divorce or Separation......Page 190 9. Roth IRAs......Page 193 Taxation of Distributions......Page 196 Early Distribution Tax......Page 205 Ordering of Distributions......Page 208 Required Distributions......Page 209 10. Roth 401(k) Plans......Page 211 Taxation of Distributions......Page 212 Early Distribution Tax......Page 216 Required Distributions......Page 217 Appendixes......Page 0 Appendix A. IRS Forms, Notices, and Schedules......Page 219 Form 4972, Tax on Lump-Sum Distributions......Page 220 Tax Rate Schedule for 1986......Page 224 Form 5329, Additional Taxes on Qualified Plans (Including IRAs) and Other Tax-Favored Accounts......Page 225 Form 5330, Return of Excise Taxes Related to Employee Benefit Plans......Page 233 Form 5498, IRA Contribution Information......Page 250 Form 8606, Nondeductible IRAs......Page 251 Revenue Ruling 2002-62......Page 261 Appendix B. Life Expectancy Tables......Page 267 Table I: Single Life Expectancy......Page 268 Table II: Joint Life and Last Survivor Expectancy......Page 269 Table III: Uniform Lifetime Table......Page 287 Table IV: Survivor Benefit Limits......Page 288 Index......Page 289 Don't give your nest egg away to the IRS!

Perhaps your retirement is on the horizon. Or you're changing jobs. Or are about to turn 70.5 years old....

Whatever is going on with your retirement account, IRAs, 401(K)s & Other Retirement Plans is for you! Make sense of the rules that govern distributions from retirement plans – and avoid the stiff taxes and penalties that lurk in the fine print.

In plain English, this book discusses all common types of retirement plans, including 401(k)s and other profit-sharing plans, Keoghs, IRAs and tax-deferred annuities. It covers:

• tax strategies before and at retirement
  
• penalties for taking money out early
  
• minimizing taxes
  
• distributions you must take
  
• distributions to your heirs
  
  The 8th edition is completely updated with the latest tax rates, tables and methods for calculating required distributions. It also reflects the Pension Protection Act of 2006, a huge update to various retirement programs.
  
  With IRAs, 401(K)s & Other Retirement Plans as your guide, you'll know the rules, avoid the penalties and save for your future like a pro.